News

 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,…

 The effects of the pandemic on Nashville’s office market are fading away this quarter, as net absorptions for the preceding 12 months finally have turned positive. Demand for office space has picked up due to major corporate relocations and expansions, from the likes of Amazon, Oracle, and Capgemini. Developers who broke ground on speculative investments have largely benefited from the flight to quality, as new tenants moving to Nashville have tended to move to the…

  March 9, 2022 (Nashville, Tennessee) – Lee & Associates Nashville is pleased to announce that John Zeffery and Bryan Cahill have joined the growing Nashville brokerage team. Previously with JLL, and based in Chicago, John joins Lee as a Director with experience in tenant and landlord representation. Zeffery has also represented clients on a national basis assisting with site selection and asset disposition. Cahill, who joins as an Associate, comes from a background in…

The Nashville Office market is steadily fighting its way to more positive figures as the effects of the pandemic start to wane. Due to slower leasing activity and speculative deliveries coming online, vacancy rates have been pushed up. Rent growth has also flattened out, going down 1% over the last quarter. The saturation of sublease availability and additional speculative supply will keep rental rates down for the near term. There are still large blocks of…

The Nashville Industrial market saw multiple records set in Q4, including record-high rental rates and all-time low vacancy of 2.2%. Net absorption nearly tripled from Q4-20 to Q4-21, and the vacancy rate has dropped 130 basis points in the same time frame. Additionally, 71% of new product was pre-leased in 2021, demonstrating the robust and continuing demand. Overall, total inventory SF dropped in Q4 due to redevelopment of infill properties; however, expectations should be tempered…

November 9, 2021 (Nashville, Tennessee) – Lee & Associates Nashville is pleased to announce that Grace May has joined the office as Marketing & Operations Coordinator. Previously with Cushman & Wakefield – Nashville, Grace brings a unique skill set to the office. With more than four (4) years of commercial real estate marketing experience, Ms. May is an excellent addition to the team. Jim Rodrigues, SIOR President of the Lee & Associates Nashville office, says “We…

The third quarter Nashville Industrial market continues to remain red hot. Overall absorption was below the second quarter, with over 1.5 MSF. Vacancy rate dropped to 3.4 down 10 basis points, still extremely tight for the market. Rental rates continue to increase with high demand and limited supply coming to market. Demand for E-Commerce warehouse space and the need to keep extra supplies on hand due to supply chain disruptions are causing users to reevaluate…

The Nashville Office market continues to gain traction as the impact of COVID-19 lingers. The last two quarters have had positive net absorption and maintained a vacancy rate of 13.6% with asking rental rates hovering at approximately $29 per square foot. Under construction activity has been modest with strong preleasing in most cases. Pricing for office sales has remained strong, with low cap rates. Nashville continues to benefit from major corporate relocations such as Kaiser…

September 28, 2021 (Nashville, Tennessee) – Lee & Associates is proud to present the Basin Alley Building at 105 Broadway for purchase in Nashville, TN. This sale presents a rare opportunity to own a Class-A, +52,000 SF, 6-story with rooftop retail building in the heart and soul of Music City.   The Basin Alley Building is one of the most recognizable buildings in the corridor and receives attention by being in the center of multiple of…