Franklin Office Rent Price & Sales Report

Highlights

  • The average rent for office space in Franklin is $30.82 per square foot, 8.40% lower compared to the previous year.
  • The market’s vacancy rate stands at 27.09%, higher than the state average of Tennessee, which is 16.31%.
  • 96,000 square feet is currently under construction.

2025 Office Space Rent & Sales

  • $30.82 2025 Avg. Asking Rent
  • -8.40% Y-o-Y Avg. Asking Rent Change
  • 27.09% 2025 Office Vacancy Rate
  • $92.8M2025 Total Office Sales
  • $183.42Avg. Sale Price/SF

What is the average asking rent price for office space in Franklin?

Average asking rents for office space here stand at $30.82 per square foot. The local office market recorded an average vacancy rate of 27.09% in 2025, unchanged from 27.09% in 2024.

Office transactions in the local market in 2025 totaled a sales volume of $92.8M across 5 sales. These transactions commanded an average sale price per square foot of $183.42.

Franklin, TN Office Asking Rents by Class

What is the average office rent per square foot by property class in TN?

  • Avg. Asking Rent Class A & A+$30.58
  • Avg. Asking Rent Class B$25.17
  • Avg. Asking Rent Class C$16.00

For comparison, the average rent for Class A and A+ office space in Tennessee was $30.58 per square foot. The state-wide average for Class B space was $25.17 per square foot, and Class C office spaces averaged $16.00 per square foot.

Explore Top Office Markets in Tennessee

2025 Office Sales Volume

  • $183.422025 Avg. Price per SF
  • -34.04%Y-o-Y Avg. PpSF Change
  • $92.8M2025 Office Sales Volume
  • 52025 Number of Transactions

What is the average sale price per square foot for office space in Franklin?

Average sale prices for office space in this market recorded a -34.04% change in 2025 compared to the previous year.
Office transactions recorded in the market in 2025 averaged $183.42 per square foot. For comparison, the statewide Tennessee average during the same time period stood at $157.29 per square foot, while the national average was $182.48 per square foot.

Franklin, TN Sale Price per SF Trend

  • Franklin Avg. Sale Price per SF in 2025$183.42
  • Tennessee Avg. Sale Price per SF in 2025$157.29

What was the total office sales volume in Franklin in 2025?

The local office market recorded 5 deals in 2025, adding up to a yearly sales volume of $92.8M.

  • Franklin, TN Total Office Sales Volume in 2025 $92.8M
  • Franklin, TN Total Number of Office Sales Closed in 2025 5
Data provided by Yardi Research

2025 Office Construction in Franklin, TN

  • Franklin, TN Total SF completed in 2025 294,600
  • Franklin, TN Total SF under construction in 2026 96,000

How much office space was built in Franklin in 2025?

294,600 square feet of new office space was delivered across the market in the previous year. New construction included 1 properties, with an average new property size of 294,600 square feet.

Looking forward, development activity in 2026 is estimated to add 96,000 square feet of office space to the market in total.

What are the largest recent office completions in Franklin?

The largest recent office completion here is McEwen Northside - 4020 Aspen Grove Drive at 327,500 square feet, completed in 2025. The next largest completions are Meridian Cool Springs - 5000 & 5005 Meridian Blvd and Mallory Green.

Office building Address SF Completed
McEwen Northside - 4020 Aspen Grove Drive 4020 Aspen Grove Drive, 37067 327,500 2025
Liberty Station 1201 Liberty Pkwy, 37067 39,928 2020
4488 Carothers Pkwy 4488 Carothers Pkwy, 37064 68,485 2019
Mallory Green 3401 Mallory Lane, 37064 178,638 2018
Two Greenway Centre 302 Innovation Drive, 37067 155,120 2017
Berry Farms - One Town Center 4037 Rural Plains Circle, 37064 105,000 2017
Two Greenway 302 Innovation Dr., 37067 156,033 2016
Meridian Cool Springs - 5000 & 5005 Meridian Blvd 5000 Meridian Blvd, 37067 192,577 2012
127 International Drive 127 International Drive, 37067 135,373 2012
127 International Drive 127 International Drive, 37067 135,373 2012
Data provided by Yardi Research

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Disclaimer

All information on this page is based on city-level data that includes properties equal to or larger than 25,000 square feet.
Averages were calculated based on values dated between January 1st and December 31st 2025. Construction pipeline data represented herein is valid as of January 2026.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.