Nashville, TN Office Overview
The Nashville Metropolitan Area includes the Metro Center, Green Hills and Germantown submarkets. With a metropolitan population of over 1.8 million people, the city’s economy is driven by a diverse mix of business, including the tourism, healthcare, and education sectors.
As of mid-2017, the Greater Nashville market encompasses nearly 28 million square feet of existing office space in properties larger than 50,000 square feet. Nicknamed “Music City U.S.A.,” Nashville is the capital of Tennessee and also the state's largest city.
Nashville, TN Office Inventory Description
The city has earned its nickname thanks to being the center of the Country music industry. Along with the music & entertainment industry, the demand for office space in Nashville is also driven by healthcare and corporate head office users.
With a gross metropolitan product of nearly $103 billion annually, there is consistent demand for white collar labor in the city. About 47% of the inventory in the city is Class A or A+, while Class B product adds another 50% of space to the market.
Demand for Class A space is strong in Downtown Nashville, located just east of 8th Avenue South and west of the Cumberland River. Prime buildings such as the L & C Tower on Church Street, The Baker Donelson Center, and the SunTrust Plaza at 401 Commerce Street are all part of this submarket. Music Row, a neighborhood traditionally associated with the music industry, is also seeing growing demand for its blooming commercial real estate market.
Nashville, TN Commercial Inventory Breakdown
Total: 47,011,618 SF
By square footage range:
- 50k to 100k SF: 7,407,703 SF / 15.76% of total office
- 100k to 500k SF: 29,561,414 SF / 62.88% of total office
- 500k to 1M SF: 9,042,501 SF / 19.23% of total office
- > 1M SF: 1,000,000 SF / 2.13% of total office
- Class A+: 2,975,759 SF / 6.33% of total office
- Class A: 16,403,870 SF / 34.89% of total office
- Class B: 17,095,146 SF / 36.36% of total office
- Class C: 1,329,270 SF / 2.83% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Nashville Yards - 1001 Church Street||1001 Church Street, 37203||1,000,000||2021|
|One Hundred Oaks||719 Thompson Lane, 37204||891,470||2010|
|AT&T Building||333 Commerce Street, 37201||648,047||1994|
|Broadwest||1600 West End Avenue, 37203||635,000||2021|
|The Reservoir||SWC Edgehill Avenue & US Route 31, 37203||600,000||n/a|
|Nashville Yards - Amazon Tower 1||1000 Church Street, 37203||566,000||2021|
|Nashville Yards - Amazon Tower 2||NWC 10th Avenue North & Church Street, 37203||566,000||n/a|
|Asurion Headquarters||120 11th Avenue North, 37203||561,800||2021|
|One Century Place||26 Century Blvd, 37214||538,788||1991|
|909 Division Street||909 Division Street, 37203||535,045||n/a|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|Capitol View - Block E||500 11th Avenue North, 37203||324,000||2019|
|18th & Chet||818 18th Avenue South, 37203||135,584||2019|
|May Hosiery Complex||427 Chestnut Street, 37203||120,000||2019|
|1 Music Circle South||1 Music Circle South, 37203||107,840||2019|
|Vertis Green Hills||4000 Hillsboro Pike, 37215||82,000||2019|
|225 Polk Avenue||225 Polk Avenue, 37203||66,005||2019|
|CitiView I & II||2305 Kline Avenue, 37211||46,121||2018|
|Bridgestone Tower||200 4th Avenue South, 37201||522,000||2017|
|222||222 2nd Avenue South, 37201||390,000||2017|
|Capitol View - LifeWay Christian Resources Headquarters||1 Lifeway Plaza, 37203||277,429||2017|
Nashville, TN Green Office Space
One of the best examples of green office space in Nashville is the LEED-certified Gulch Crossing office building on Demonbreun Street. Built in 2015, this nearly 240,000-square-foot Class A property is located in The Gulch neighborhood and is the proud recipient of the coveted LEED Gold certification.
The most recent National Green Building Adoption Index looked at energy-efficient office buildings in the top 30 U.S. markets in 2017. The survey discovered that the percentage of LEED-certified and Energy Star-rated construction for office buildings has increased from less than 5% in 2005 to 38% by mid-2017.
While Nashville didn’t make the top 30, the city is definitely moving in the right direction, with Gulch Crossing as a fine example.
Nashville, TN's Top Office-Using Sectors
Demand for commercial real estate here is created by a variety of business and industry in the city. Top sectors in Nashville include healthcare, music & entertainment, and government sectors, as well Fortune 500 companies.
- Healthcare – This sector is one of the top creators of white-collar employment in the metro, with companies such as Hospital Corporation of America employing over 200,000 people.
- Music & Entertainment – Nashville is headquarters to world-famous guitar maker Gibson, and is home to numerous independent record label companies, with Universal Music Group, Sony Music Entertainment, EMI, and Warner Music Group all having offices in the city.
- Government – The Nashville City government and Public School District, the State of Tennessee, and the U.S. Government are all top employers.
- Fortune 500 Offices– Class A space in Nashville is also coveted by the numerous corporate headquarters within the city, which include Bridgestone, Community Health Systems, Dell, Nissan North America, and Tractor Supply Company.
- Total Population454,078
- Male Population(48.0 %) 218,177
- Female Population(52.0 %) 235,901
- Median Age33.00
- Average Household Income$88,071
- Median Household Income$54,492
- Median Income Under 25$33,098
- Median Income 25-44$67,077
- Median Income 45-64$59,336
- Median Income Over 65$38,891
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