MARKET TRENDS
- Nashville’s vacancy rate held steady at 6.2% in Q3 unchanged quarter over quarter, as 0.5 million square feet (msf) of net absorption outpaced 0.3 msf of new deliveries, reflecting continued market balance and steady demand.
- Average asking rents moderated in Q3 following an all-time high in the prior quarter yet remain 27.2% above the five year quarterly average, supported by the continued presence of new speculative product and resilient demand for quality space.
- Net absorption 0.5 msf in Q3 , bringing year-to-date absorption to 2.4 msf, with Wilson County leading activity driven by Modular Power Solutions’ 527,100-sf move in at 40 Athletes Way.