MARKET TRENDS
- Availability of 22.8%, up 340 basis points year over year, along with ample sublease options and potential landlord loan distress, should sustain tenant-friendly market conditions into 2025
- Tenants remain committed to the Nashville market with 0.6 million square feet (msf) of leasing activity in Q4, bringing the 2024 total to 3.0 msf, a 0.3 msf increase year over year
- Rental rates climb to a high of $36.34 per square foot and are expected to increase further as new premium office space is slated to deliver in 2025