Nashville office market report
Nashville’s office market saw positive momentum in 2022 as unemployment continued to decline and both job and population growth saw impressive gains. While a significant amount of availability remains on the market, leasing activity has picked back up to pre-COVID levels. Moving into 2023, despite looming threats of an upcoming recession, the Nashville market is expected to see positive absorption and continued tenant demand pour into the city.
Nashville office vacancy increased 80 basis points since year-end 2021.
Class A properties in the urban core continue to record the lion’s share of positive net absorption.
At year-end, office properties under way totaled over 2.7 msf, with nearly 40% preleasing in place.
Average rental rate
New construction rents lead the market and continue to be met with persistent tenant demand.
Sublease space available continues to hover at record levels.
Nashville’s office investment sales hit a new record high, up 45% year-over-year.
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Get in-depth office market reports and insights from commercial real estate experts in the Greater Nashville area. Avison Young advisors look at Nashville commercial real estate activities and the latest Nashville statistics to provide you expert market research on Nashville's office properties.
Explore different topics like the latest office market pricing trends and analysis of Nashville's current office real estate market conditions. Gain a better understanding of Nashville’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Nashville's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Nashville.
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