The Dayton-area industrial real estate market may be firming up, according to a new report from commercial real estate firm Cassidy Turley.
According to the firm’s “industrial market snapshot” for the third quarter of 2013, a combination of leasing/sale activity combined with finished construction projects led to more than 450,000 square feet of positive absorption.
So far this year, the Dayton market has seen more than 1.1 million square feet of positive absorption.
Positive absorption happens when previously vacant space became occupied by a tenant business.
Nearly 500,000 square feet of newly built industrial space was completed in the third quarter, the report said. So far this year, there have been 1.15 million square feet of new industrial space completed.
More than 625,000 square feet of industrial space is currently under construction across the Dayton market, with more being planned, Cassidy Turley said.
Vacancies are down in bulk warehouse and flex office/warehouse categories while vacancies are up in the freestanding building category, the firm said.
The Dayton market’s overall industrial vacancy rate in the third quarter is 15.9 percent, a 0.5 percent increase over the second quarter vacancy rate, the report said. THOMAS GNAU
SURVEY
“Made in Dayton” blog taking survey
The website www.madeindaytonblog.com is surveying Dayton-area manufacturers to find out how many job openings they have and what employee skills they need.
This year’s survey is being conducted with Dayton Area Chamber of Commerce, the Dayton Region Manufacturers Association, BusinessFirst!, and Sinclair Community College’s Workforce Development Division, Steve Staub, of Vandalia’s Staub Manufacturing Solutions, said in a post.
The survey asks how many jobs are open, what types of openings are out there and what the jobs pay.
For more information or to take the survey, go to madeindaytonblog.com. THOMAS GNAU
EARNINGS
Chipotle net income climbs
Chipotle says its profit rose 15 percent in the third quarter as more customers flocked to its restaurants for burritos, tacos and bowls.
The Denver-based company said sales at restaurants open at least a year, a key metric, rose 6.2 percent in the period, driven by higher customer traffic. The sales jump follows a 4.8 percent increase a year ago.
For the quarter, Chipotle Mexican Grill Inc. earned $83.4 million, or $2.66 per share. That’s up from $72.3 million, or $2.27 per share, a year ago. Analysts expected $2.78 per share. ASSOCIATED PRESS
Revenue rose 18 percent to $826.9 million, topping the $820.3 million analysts expected.
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