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Dayton Office Report | Q3/2022

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As Dayton Office Market Struggles, Wright-Patterson Airforce Base Submarket Continues to be Driving Force in Office

Dayton’s Office Market has hit hard times with high vacancy rates and low absorption. This trend is in line with most metropolitan areas in the United States following the challenges of the past two years with retaining tenants in office spaces. As many employers adapt to “the new normal” of work from home, hybrid schedules, and attracting employees back into the office, the Eastern Submarket of Dayton has stayed strong and carried on business as usual throughout the pandemic. 

This bright spot in Dayton is due to the type of work done around Wright-Patterson Air Force Base (WPAFB) and the convenient location offered in the Eastern submarket outside of the main downtown Dayton area. During these uncertain times, many office tenants vacated their space, but the Defense Contractors needing proximity to the base who were not afforded this uncertainty have continued to keep this market upright. In the second quarter of 2022 the WPAFB submarket alone brought nearly 87% of Dayton’s overall new construction, a clear majority. With skyrocketing inflation and risk averse decision makers one thing remains clear: Without the base driving steady occupation of offices in the WPAFB submarket, the entirety of the Dayton Office Market would have even higher vacancy and lower absorption rates than currently reported. 


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Dayton Office Report | Q3/2022

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Kyle Corbett

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Kyle joined Colliers in the spring of 2022. Kyle's duties  include market analysis, database maintenance, CRM operations, and brokerage support. Additionally, Kyle is responsible for working with third-party data sources and conducting training programs on various tools. Lastly, Kyle publishes market reports to provide an in-depth analysis of Cincinnati and Dayton's CRE environment. 

 

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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.

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“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:

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