DAYTON, OH—The revival of the auto industry and growth of consumer spending, among other factors, has revived the market for industrial properties in much of Ohio. And Dayton companies also appeared busy, as that area also saw about 1.3-million-square-feet of positive net absorption.
The market for bulk warehouses was particularly healthy. In Dayton, these properties accounted for 484,420-square-feet of absorption, and the vacancy rate for them sank to only 6.8%.
The relatively tight markets have certainly brought a lot of interest from developers. In the Dayton area, Prologis broke ground last fall on a 1.8-million-square-foot distribution center for Procter & Gamble in Union at the Global Logistics Airpark
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