Market Trend: Nashville’s Office Vacancy Decreases to 10.6%

The Nashville Office market ended the fourth quarter 2010 with a vacancy rate of 10.6%.

The vacancy rate was down over the previous quarter, with net absorption totaling positive 341,825 square feet in the fourth quarter. This represents three consecutive quarters of positive absorption. Vacant sublease space decreased in the quarter, ending the quarter at 484,566 square feet.

Rental rates ended the fourth quarter at $18.92, an increase over the previous quarter.

A total of five buildings delivered to the market in the quarter totaling 133,054 square feet, with 107,400 square feet still under construction at the end of the quarter.


The information in this news report is based on CoStar’s Fourth Quarter 2010 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.