Spirit acquired a 150-unit apartment community known as Arlington Village Flats in 2013. The Property is located directly across the street from Arlington Village Townhomes, another Spirit owned property located in the city of Fairborn Ohio, a submarket of Dayton.
The property is 1/2 mile from the entrance to Wright-Patterson Air Force Base, which has a current workforce of over 27,000 employees, making it the fifth largest employer in the state of Ohio and the largest employer at a single location. Additionally, the property is 2.3 miles from Wright State University, which has a 2010 enrollment of approximately 20,000 students and employs nearly 3,100 people.
The property is located 3 miles from Fairfield Commons Shopping Center, a 500,000 square foot mall with over 140 shops and restaurants, 10.5 miles from The Greene Town Center, a recently completed, $185 million, 72 acre mixed-use development with over 128,000 square feet of class A office space and 790,000 square feet of upscale retail, 11 miles from downtown Dayton and 23 miles from Dayton International Airport.
Dayton is 60 miles equidistant between Columbus, the state capital and largest city with approximately 770,000 people, and Cincinnati, the state’s largest MSA with over 2.1mm residents. Dayton is also 120 miles east of Indianapolis and 155 miles south of Toledo. Dayton is located within 500 miles of 60% of the US population and 60% of the manufacturing capacity of the US who, along with Riverside, California, are defined as the only two major logistics centroids in the US.