breaking news

Clark County continue massive clean up of new park, gorge

Survey: Retail vacancy dropped in 2012

Data reflect stronger regional market, report’s author says


The amount of vacant retail estate space in the Dayton area dropped for the second consecutive year in 2012, according to a survey released Wednesday.

The 2012 Greater Dayton Retail Market Study prepared by Miller Valentine GEM Real Estate Group showed that 14.6 percent of retail space in the Dayton region was vacant in 2012, down from 15.6 percent in 2011 and 16.6 percent in 2010. The regional numbers include Springfield, Lebanon, Middletown, Troy, Piqua and Sidney.

Figures for the immediate Dayton area were even more encouraging, with the retail vacancy rate dropping to 13 percent in 2012 from 15 percent in 2011 and 16.3 percent in 2010.

The survey results “demonstrate a strengthening of both the area and regional retail market,” Miller Valentine GEM officials said in the report. GEM President Dave Dickerson said in an interview that the study mirrors the recovery of the national economy, and he expects a slow, cautious continuation of that trend in early 2013.

The real estate resources company sampled 267 retail facilities totaling more than 25 million square feet across the region during the third quarter of 2012 and concluded that more than 272,000 square feet of retail space were absorbed and therefore removed from the “vacant” category during 2012.

Of the nine sub-markets sampled by Miller Valentine GEM, only two — the Upper Valley segment that includes Troy, Piqua, Tipp City and Sidney — and the Lebanon-Middletown markets showed an increase in vacancy rates. The Dayton East market had the lowest vacancy rate at 9 percent, while the Lebanon-Middletown market recorded the highest vacancy rate at 32.2 percent.

The survey was compiled from property owners, property managers, leasing agents, inspections and public records, the real estate services company said.


Reader Comments ...


Next Up in Business

Clark State to shows businesses how they can use 3D printing
Clark State to shows businesses how they can use 3D printing

Clark State Community College and several partners will host a conference next week to show area firms how additive manufacturing can improve their business and profitability. The conference, scheduled for Thursday, Aug. 24, will focus on trends and best practices in the technology. It will include a panel discussion and a keynote address from Greg...
Custom-built home for sale in Liberty Twp. for $1.8M
Custom-built home for sale in Liberty Twp. for $1.8M

A custom-built home is for sale for nearly $1.9 million in Liberty Twp. The seven-bedroom home, located at 6385 Coach House Way in Liberty Twp., has more than 10,000 square feet of living space and seven bedrooms. It is listed by Berkshire Hathaway HomeServices Professional Realty. » INSIDE LOOK: $1.7M home with indoor pool for sale in Washington...
Navistar, local leaders push others to buy trucks made in Springfield
Navistar, local leaders push others to buy trucks made in Springfield

Members of the UAW Local 402 and Chamber of Greater Springfield are increasingly working with area businesses as part of a two-year effort to encourage them to buy Navistar products made in Springfield. The chamber and UAW started out more than a year ago with a mailing campaign to more than 600 townships, villages cities and other government entities...
Tips for buying items at local festivals
Tips for buying items at local festivals

Late summer and fall is the prime time for festivals in the Miami Valley. Many of these offer bourbon chicken, lemon shake-ups, Ferris wheels and an overwhelming number of vendors. If you’d like to purchase beautiful handcrafted goods and other items at these events, Better Business Bureau wants you to consider these tips: ...
Quality available at thrift stores and community colleges
Quality available at thrift stores and community colleges

Don’t let your love of fashionable footwear break the bank! Here’s how to get gently used Michael Kors, Casadei and Burberry for outrageously low prices. Next time you need a pair of shoes for a night out on the town, you’d be wise to visit your local thrift store. At a recent check to a metro Atlanta area thrift store, we found some...
More Stories