Office Rental Market
- $30.06 2019 Avg. Asking Rent
- 12.03 % 2019 Avg. Vacancy Rate
- 598,147 2019 Office Completions (Sqft)
- 180,000 2020 Estimated Pipeline (Sqft)
Average Office Asking Rents by Class
2019 Average Office Rent per Square Foot
- Franklin Class A Office Buildings$30.51
- Franklin Class B Office Buildings$28.04
- TN Class A Office Buildings$31.64
- TN Class B Office Buildings$21.27
- TN Class C Office Buildings$18.63
Franklin, TN Office Asking Rents by Class
OFFICE CONSTRUCTION IN Franklin, TN
- Franklin, TN Total Sqft completed in 2019 598,147
- Franklin, TN Total Sqft under construction in 2020 180,000
Building name | Address | Total Sqft | Year built |
---|---|---|---|
The Carothers Building | 9009 Carothers Pkwy, 37067 | 523,319 | 1996 |
The Carothers Building | 9009 Carothers Blvd., 37067 | 500,000 | 1996 |
Nissan Headquarters | 1 Nissan Way, 37067 | 460,000 | 2008 |
Two Franklin Park | 6700 Tower Circle, 37067 | 278,161 | 2017 |
One Franklin Park | 6100 Tower Circle, 37067 | 272,720 | 2014 |
One Franklin Park | 6100 Tower Cir., 37067 | 272,720 | 2014 |
Highwoods Office Park - Cool Springs V - Healthways | 701 Cool Springs Blvd, 37067 | 263,598 | 2008 |
Dover Centre | 113-117 Seaboard Ln, 37067 | 226,428 | 2000 |
Mars Petcare Headquarters | 2013 Ovation Pkwy, 37067 | 224,000 | 2019 |
Ramsey Solutions Headquarters - Phase 1 | 1011 Reams Fleming Blvd, 37064 | 223,000 | 2019 |
Office building | Address | Sqft | Completed |
---|---|---|---|
McEwen Northside - Block B | 4015 Aspen Grove Drive, 37067 | 198,318 | 2020 |
Mars Petcare Headquarters | 2013 Ovation Pkwy, 37067 | 224,000 | 2019 |
Ramsey Solutions Headquarters - Phase 1 | 1011 Reams Fleming Blvd, 37064 | 223,000 | 2019 |
Berry Farms - 1021 Reams Fleming Blvd | 1021 Reams Fleming Blvd, 37064 | 82,662 | 2019 |
4488 Carothers Pkwy | 4488 Carothers Pkwy, 37064 | 68,485 | 2019 |
Mallory Green | 3401 Mallory Lane, 37064 | 178,638 | 2018 |
Scott Hamilton Proton Therapy Center | 4588 Carothers Pkwy, 37067 | 45,000 | 2018 |
231 Public Square | 231 Public Square, 37064 | 32,312 | 2018 |
Two Franklin Park | 6700 Tower Circle, 37067 | 278,161 | 2017 |
Two Greenway Centre | 302 Innovation Way, 37067 | 155,120 | 2017 |
Office Spaces for Rent in Tennessee
FRANKLIN OFFICE SALES TRENDS
- $333.642019 Avg. Price per Sqft
- 44.26 %Y-o-Y Avg. PpSF Change
- $88.9M2019 Office Sales Volume
- 32019 Number of Transactions
In 2019, office sales in Franklin averaged $333.64 per square foot. This marked a 44.26 % increase in office price per square foot, compared to the previous year. A total of 3 office sales closed on the Franklin office market in 2019, amounting to a total sales volume of $88.9M.
Average Office Sale Price per Sqft
Franklin, TN Sales Trends
- Franklin Price per Sqft$333.64
- Tennessee Price per Sqft$195.66
Office Sales - Trend and Volume
- Franklin, TN Total Office Sales Volume in 2019 $88.9M
- Franklin, TN Total Number of Office Sales Closed in 2019 3
Largest Franklin Office Sales in 2019
Property name | Address | Date | Price |
---|---|---|---|
Two Greenway Centre | 302 Innovation Way | 12/23/2019 | $43,500,000 |
722 Columbia Avenue & 120 9th Avenue South | 722 Columbia Avenue | 1/18/2019 | $31,775,000 |
205 Miller Springs Court | 205 Miller Springs Court | 7/19/2019 | $13,600,000 |
See trends for nearby markets
The Franklin office market contains an inventory of 8,808,421 square feet of office space, in 133 buildings that are equal to or larger than 25,000 square feet.
This market trends report is based on analysis of city-level data. Averages were calculated based on values dated January 1st 2019 through December 31st 2019. Construction pipeline data shown is valid as of April 2020. The information on this page was compiled using data provided by our sister company, CommercialEdge – a market intelligence solution which offers comprehensive knowledge on all Franklin commercial properties sized 25,000 square feet or larger.
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 CommercialEdge can guarantee that the information provided is complete.