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Dayton office market sees first occupancy loss in two years

There were bright spots in the Dayton-area office market in the first quarter of the year, even as occupancy overall fell.

A defense contractor signed a lease for office space in Fairborn in the first quarter of 2018.

Aptima signed a lease for just over 11,000 square feet at 2555 University Drive in Fairborn, according to a recent real estate report.

Aptima also has locations in Arlington, Va., Woburn, Mass., and Orlando, Fla.

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Rob Anderson, Fairborn city manager, called Aptima’s presence in the city “good news.”

“The city did not provide any incentive to Aptima, but we’re glad to have them,” Anderson said.

A message seeking comment was sent to Aptima.

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The quarterly office market report from Colliers International recorded other noteworthy Dayton-area leases, including defense contractor Matrix Research leasing 53,000 square feet in new construction at Miami Valley Research Park, and health care products company Midmark Corp. leasing 12,000 square feet, also in new construction, at Austin Landing in Miami Twp.

Currently, Midmark is headquartered at the University of Dayton’s River Campus.

However, the first quarter overall was a tough one for the Dayton office market.

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After eight straight quarters of positive net absorption, the Dayton office market recorded a loss in occupancy of 81,843 square feet during the first quarter of 2018, the Colliers International report said. (Net absorption, a key real estate metric, measures total new square footage leased minus the square footage no longer occupied by tenants in a given time range.)

“Vacancy remains elevated across the primary Dayton submarkets, ranging from a low of 17.9 percent in the East submarket to a high downtown of 25.7 percent,” Colliers said.

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