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Dayton Office 21Q4 Report

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A Base For Growth

The Wright-Patterson Air Force Base has helped the Dayton office market weather the pandemic storm and will determine future growth.

  • Vacancy remained unchanged at 20%.
  • Suburban Class A rental rates currently average $24.33 per square foot, an increase of 7.3% over the past year, driven primarily by robust demand for space in the key East submarket surrounding the Wright-Patterson Air Force Base.
  • The Dayton office market posted an occupancy loss of 24,011 square feet in the fourth quarter, but finished the year balanced, with just 1,237 square feet of negative absorption.
  • Office projects under construction total 269,000 SF and recent announcements from developers could add up to 375,000 SF ofspeculative product to the inventory.

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Dayton Office 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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Richard Meder

Sr. VP

Cincinnati

Area of Expertise

Richard Meder has been a Commercial Realtor® in Cincinnati since 1986. In that time, he has worked within the same company.

As Principal | Brokerage Senior Vice President of Colliers International Greater Cincinnati, Richard offers extensive corporate services and specializes in the sale and leasing of multi- and single-tenant commercial buildings throughout Greater Cincinnati, Dayton and Northern Kentucky. Richard also assists clients in fulfilling build-to-suit requirements and tenant representative assignments.​​ Richard specializes in site selections for corporate headquarters and has considerable expertise in successfully negotiating real estate transactions that require state tax incentives.

Community Involvement

“Giving back” is important to Richard. His interests reflect his lifetime involvement in the community and his commitment to youth and the organizations that support them. He is currently or has been involved with these organizations:

·  St. Rita School for the Deaf. Chairman of Board of Trustees.

·  The Fire Museum of Greater Cincinnati. Past President.

·  Seton Family Center (a Sisters of Charity-sponsored ministry). Board of Trustees, 9 years. Past President.

·  Springer School & Center. Board of Trustees, 9 years.

·  Dan Beard Council Boy Scouts of America, Maketewa District. Steering Committee.

·  Hoxworth Blood Center. Premier Donor.

·  Sisters of Charity of Cincinnati.

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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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