Throughout 2013 the Retail market has continued to be Dayton’s strongest sector, averaging around 12.5% vacancy. The most active areas in the region are in Dayton’s South market near the Dayton Mall and around the Austin Landing interchange. The North and West Dayton markets continue to be in recession as absorption and vacancy rates lag behind the other markets. The Dayton East market, which has historically led the market in activity, continues to show strength with a sub 10% market vacancy. Infill developments, driven by consumers desiring options closer to employment and residential hubs, continue to play a prominent role in both the South and East markets.
Our forecast is for continued market uncertainty moving into the 4th quarter of 2013, with retailers remaining cautiously optimistic. We anticipate the market to continue to gain momentum as 2013 draws to an end and 2014 begins. Retailers are capitalizing on the uptick in consumer spending within the Dayton region. The region is seeing new developments as well with Costco, Whole Foods, and other national retailers placing their first store in Dayton.