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Dayton Industrial 21Q4 Report

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Cincinnati Industrial Report

Stage is Set for Dayton Industrial Growth

A strong year of occupancy gains and booming construction activity set Dayton’s industrial market up for further growth in 2022.

  • The Dayton industrial market finished 2021 with 1.7 million square feet of positive net absorption, the most since 2016.
  • Vacancy continued to test new historic lows, ending the year at 4.8%.
  • Construction activity has skyrocketed to 4.5 million square feet, as bulk warehouse projects begin to take shape and become a focal point for the market.
  • Rental rate increases for bulk warehouse and warehouse/distribution properties were the major driver behind overall average market rate growth.

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Dayton Industrial 21Q4 Report

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Related Experts

Shenan Murphy

Vice Chairman

Cincinnati

Growing up, I always knew I wanted a job where I would be in control of my career path, and commercial real estate has allowed me to do that both personally and professionally. I began my career as a retail and investment broker in 1989. Today, I leverage my previous brokerage experience and knowledge to oversee the strategic and daily operations of Colliers International | Greater Cincinnati and Dayton. As the CEO, I make it a priority to provide the best strategic leadership and oversight to a truly remarkable team. In addition to commercial real estate, I have created a diversified and innovative family of companies providing brokerage sales, investment services, construction services, information technology services and property management services.

The experience I gained from holding a variety of positions throughout my career has allowed me to reach a broad base of clients and establish valuable relationships throughout Greater Cincinnati and Dayton. These relationships have provided the opportunity to aid some of the region’s most successful companies in making sound real estate decisions.

In addition to my daily responsibilities with Colliers, I find great joy being involved in my community. One of my personal goals is to help the Cincinnati community and those around me to move forward and grow with energy and purpose. I am a member of various organizations serving the community such as the University of Cincinnati Foundation (Board Member), the University of Cincinnati UCATS (Board Member), the University of Cincinnati Diamond Club for Baseball (Chairman), the University of Cincinnati College of Business (Real Estate Board Member), the Greater Cincinnati Regional Business Committee, and Cincinnati Young Presidents Organization.

I hold the CCIM commercial real estate designation and have affiliations with ICSC (International Council of Shopping Center), ULI (Urban Land Institute), and NAIOP (National Association of Industrial and Office Properties).

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Todd Cochran

Brokerage First Vice President

Dayton

I am proud to represent Industrial landlords and tenants in the Greater Dayton market on behalf of Colliers.  I started my career in commercial real estate a few years out of college at a regional firm in Dayton.  There I began to learn what it takes to achieve the most success for my clients.  A few of the necessities are attention to detail, approaching each project with enthusiastic energy, truthfulness at all times and an exceptional work ethic.

As a lifelong Dayton resident, I know the market and people very well.  Strong relationships and market knowledge are two areas that require constant attention.  Colliers Research provides me up to date information on the overall market, but it is through my relationships and every day practice that I discern the micro-trends in the Dayton region.  Whether I am advising a landlord or tenant, I am confident I can provide the best information as they go through the decision making process, resulting in the most favorable transaction terms.

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Norm Khoury

Sr. VP

Cincinnati

I specialize in creating innovative solutions and competitive advantages for my clients.  I am a seasoned real estate professional and have a long history of successful transactions over 100,000 SF.  I focus on cities and properties along the I-75 corridor in KY and OH.  This area has become extremely vibrant and I’m proud to have contributed to its growth.  Over the past 30 years, I’ve completed more than 325 transactions totaling more than 40 million SF and valued at over $400 million to date.  Long-term clients include Delphi, Gap, W. P. Carey, and General Motors.

I am a natural born connector and love negotiating on behalf of my clients.  There’s nothing I like better than solving problems.  I have a large network of real estate professionals that I am continually developing and expanding.  I serve in leadership roles with SIOR (Society of Office & Industrial Realtors, an educational international association of 3,000 brokers, developers, and investors), and am members of the elite Colliers Logistics and Transportation Solutions Group, and CSCMP (Counsel of Supply Chain Management Professionals).  As I tell my family and friends, everything comes down to logistics!

I am known for my deep real estate knowledge of the Greater Cincinnati area, my persistence, representing my clients the way they want to be represented, and operating at all times with honesty and integrity. 

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John Gartner

Sr.VP

Cincinnati

John joined Colliers International in 1992 and became one of the general partners in May 2002.  As a Senior Sales Vice President, he is responsible for industrial sales, leasing and appraisals.  John is very active as a leader in numerous professional and community activities.

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