Q1 2022 Nashville Office Market Report
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 Downtown submarket, lowering the submarkets vacancy rate to 12.9% which is 200 basis points lower than the market as a whole. The market’s continuing to improve as landlords have been able to keep rents steady over the past year.