Nashville’s office market is still experiencing an upward shift in vacancy due to last year’s record-setting amount of added inventory. Nashville’s office market experienced extraordinary growth throughout 2017 with over 2 million sq. ft. of deliveries. This growth is being driven by Nashville’s rapid job creation both from tenants expanding within the market and new companies relocating to the area. After a record low vacancy in 2016, this new product has helped push Class A rental rates, increase options for tenant expansion, and spur leasing activity throughout the market.
Nashville 2019 Office Outlook
Speculative construction shifts vacancy, allowing tenant expansion