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.