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Retail Market Recap and Forecast

December 18, 2013 / By Aaron Savino, Vice President

Over the past year, the Dayton retail market has seen a slight uptick in activity. It is clear that the South and East Dayton retail markets have remained strong and will continue to retain and attract retailers. However, the recent government shutdown will not help the East market in conjunction with Wright-Patterson Air Force Base. In the Central Business District, there has been a lot of recent interest from restaurants and “pop-up” retailers. Interest from retailers throughout the South and East markets and the Central Business District, as well as a few pockets in the North market,  has picked up but there is a need for stability in these areas before any large commitments will be made.Recently, online and internet sales are an increasing trend in the retail market. This trend is changing the way people shop and buy. Customers have been looking to shop and purchase from larger selections with the added ease of shopping from home. This new “standard” has led to the prediction that in the coming year, real estate decisions will be made with this concept in mind.  Retailers will continue to capitalize on smaller concepts, less square footage, and less stock due to the increasing online shopping demand.

Notable deals in 2013 were dominated by Austin Landing. The South market has planned a Whole Foods development on the corner of McEwen Road and St. Rt. 725.  Locally,  Kroger  has continued to push its Fresh Fare and Marketplace Grocery stores throughout the Dayton area. Additionally, Fresh Tyme has shown interest in the Dayton market with 2-3 stores planned for the coming year.

All in all, activity in the Dayton area is picking up. Over the course of 2013, there were some new trends in the retail market as a result of the changing ways people are shopping and buying. It is expected that the market will remain stable in 2014 and there will likely be some new notable deals taking place early to mid year.

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About the author:

Aaron Savino is Vice President for Miller-Valentine Group.

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