Nashville industrial market report
Q3 2024
Recognized by the Urban Land Institute as the top city for real estate and investment activity for a third year in a row, Nashville has been a major growth market in the Southeast for years. Strong tenant demand for newly delivered, quality properties are driving market activity, with Nashville’s development pipeline remaining one of the most active in the Southeast region.
40k sf
Average lease size
Industrial demand remains strong; smaller lease sizes, averaging 40,000 sf, have attributed to muted absorption year-to-date.
5.2%
Vacancy
A slowdown in construction starts has helped market vacancy drop to 5.2% at the end of the quarter, a decrease of 60 basis points year-over-year.
$986M
Industrial investment sales
Despite a challenging economic environment, industrial investment sales continue to outperform all other sectors.
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