Q1 2022 Nashville Industrial Market Report
Although the overall vacancy rate increased 105 basis points from 2.2% to 3.25% in the last quarter, the Nashville Industrial market continues to expand and show positive growth. The increase in vacancy is understandable due to the nearly 2 MSF of net deliveries for Q1-22. The market is still growing as the under-construction product inches toward 10 MSF and the market inventory surpassed 241 MSF. As more Downtown/infill industrial product gets rezoned for Commercial/Multi-Use projects, developers are realizing they need to look at tertiary markets in Maury, Montgomery, Robertson, and Putnam counties to sustain the growth and meet the market demand.