Gordon represented the owner of the building, Kettering Office Park LLC, in the three-year lease. Norm Khoury with Colliers Turley Martin Tucker represented the tenant. "Delphi required a large amount of space in near move-in condition," Gordon says.
He says the building is 85% occupied, with other tenants including the GSA, which has 62,000 sf, and ATK Defense Research Co., which has 45,000 sf. Asking rates at the building differ, he says, because some of the space is for research and development. "There are certain covenants and criteria that occupants have to have in order to be a tenant, including having some sort of research or educational element to their operation," Gordon tells GlobeSt.com. The lease rates are $17 per sf for pure office, and $9.50 per sf for flex/R&D.
The rest of the 11 buildings in the park are fully occupied by single tenants, Gordon says. "Generally, leasing is difficult in Dayton, but this area isn't too bad. We've certainly been affected by the automotive industry," he says. The saving grace, he says, has been the BRAC expansion of Wright-Patterson Air Force Base, "bringing more people and buildings to the base. That's clearly been positive for the area."
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