Nashville Office Market Report

Strong demand will help offset some supply-side pressure. Several 100,000-plus-square-foot, triple-net move-ins will occur this year. These include Bass Berry & Sims and Pinnacle both moving into the Nashville Yards Pinnacle Tower downtown and TikTok occupying space in Music Row. The latter submarket, which also includes Greenhill, has gained in popularity with companies since 2023, with vacancy dropping 380 basis points in 2024 to 9.4 percent. Here, local tenants benefit from their proximity to both Midtown and Vanderbilt University, which aids in recruiting efforts. This favorable location and falling vacancy support the highest average asking rents in the metro. Meanwhile, the CBD may report another year of vacancy increase. The leases set to begin this year may not be sufficient to counterbalance the 1.6 million square feet slated to come online downtown in 2025. Locations with less new supply pressure, like Southeast Nashville, are poised to see vacancy contraction amid demand for Class B/C floorplans.