An undisclosed consumer products company has finalized a lease at 2700 Concorde Drive, near Dayton International Airport, according to a new real estate report.
The unnamed company signed a lease for more than 348,000 square feet of bulk warehouse space at that address in the second quarter of the year, near the Spectrum Brands distribution center at 2800 Corcorde Drive, just north of U.S. 40 and just west of the airport, according to a quarterly real estate report from Colliers International.
Both buildings, developed by Northpoint Development, are northwest of U.S. 40 and the airport access road off Interstate 70.
Also in the second quarter of the year, retail giant Walmart signed a lease for more than 44,000 square feet in warehouse distribution space at 4688-4730 Wadsworth Road, according to the report.
The airport area has been the center of much activity, the Colliers report noted.
New supply of industrial space totaling 256,000 square feet have been delivered to the Dayton area’s inventory since the start of 2018, according to Colliers.
Construction activity has increased, though, now equaling 1.8 million square feet, the firm said.
“Half of that total is speculative and is concentrated in the North submarket adjacent to the Dayton International Airport,” Colliers said. “These two buildings developed by Kansas City-based Northpoint Development are 50 percent pre-leased.”
For the second quarter of 2018, Dayton’s industrial market rose to a 7.2 percent vacancy rate — which is one percent higher than a year ago — with another 1.8 million square feet still under construction, Colliers said.
Colliers put asking rents for the overall industrial market at $3.50 per square foot.