Nashville, TN - Office Market Overview
The Nashville Metropolitan Area includes the Century City, Elm Hills Acres, and Metrocenter - North Rhodes Park office space submarkets. With a metropolitan population of over 1.8 million people, the economy in Nashville is driven by a diverse mix of business, including the tourism, healthcare, and education sectors, all doing their part to create a dynamic demand for Class A office space in Nashville, Tenn.
As of mid-2017, the Greater Nashville office 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
Nashville has earned its nickname thanks to being the center of the Country music industry. Along with the music & entertainment industry, the demand for commercial real estate 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, predictable demand for white-collar office space in the Nashville metropolitan area. About 47% of the office inventory in the city is Class A or A+, while Class B office product in Nashville adds another 50% of space to the market.
Demand for Class A office space is strong in Downtown Nashville, located just east of 8th Avenue South and west of the Cumberland River. Prime office buildings such as the L & C Tower on Church Street, The Baker Donelson Center, and the SunTrust Plaza at 401 Commerce Street are all in this office submarket.
Nashville, TN Commercial Inventory Breakdown
Office Spaces
Total: 34,154,930 SF
By square footage range:
- 50k to 100k SF: 5,508,260 SF / 16.13% of total office
- 100k to 500k SF: 22,738,111 SF / 66.57% of total office
- 500k to 1M SF: 5,908,559 SF / 17.3% of total office
By class:
- Class A+: 2,416,669 SF / 7.08% of total office
- Class A: 13,124,222 SF / 38.43% of total office
- Class B: 13,089,347 SF / 38.32% of total office
- Class C: 898,114 SF / 2.63% of total office
Top 10 Largest Office Buildings
in Nashville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| One Hundred Oaks | 719 Thompson Lane, 37204 | 891,470 | 2010 |
| 333 Commerce Street | 333 Commerce Street, 37201 | 648,047 | 1994 |
| Broadwest | 1600 West End Avenue, 37203 | 635,000 | n/a |
| UBS Tower | 315 Deaderick Street, 37201 | 602,312 | 1974 |
| 120 11th Avenue North | 120 11th Avenue North, 37203 | 551,000 | n/a |
| One Century Place | 26 Century Blvd, 37214 | 538,788 | 1991 |
| Bridgestone Tower | 200 4th Avenue South, 37201 | 522,000 | 2017 |
| The Pinnacle at Symphony Place | 150 3rd Avenue South, 37201 | 519,622 | 2010 |
| Cummins Station - Expansion | 209 10th Avenue South, 37203 | 500,320 | n/a |
| One KVB Circle | NEC 8th Avenue Street & Lafayette Street, 37203 | 500,000 | n/a |
Most Recently-Built Office Buildings
in Nashville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Bridgestone Tower | 200 4th Avenue South, 37201 | 522,000 | 2017 |
| 222 | 222 2nd Avenue South, 37201 | 391,000 | 2017 |
| Capitol View - LifeWay Christian Resources Headquarters | 1 Lifeway Plaza, 37203 | 277,429 | 2017 |
| 615 3rd Avenue | 615 3rd Avenue South, 37210 | 137,241 | 2017 |
| HCA Capitol View | 1100 Charlotte Avenue, 37203 | 498,000 | 2016 |
| 1201 Demonbreun | 1201 Demonbreun Street, 37203 | 285,000 | 2016 |
| OneC1TY - 8 C1TY Blvd | 8 City Blvd, 37209 | 116,354 | 2016 |
| Gulch Crossing | 1033 Demonbreun Street, 37203 | 239,711 | 2015 |
| The Music Row Building | 35 Music Square East, 37203 | 110,000 | 2015 |
| Burton Hills VI | 1A Burton Hills Blvd, 37215 | 109,751 | 2014 |
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 took a look 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
The demand for Nashville commercial real estate and Class A office space is created by a variety of business and industry in the city. Top office-using sectors in Nashville include the healthcare, music & entertainment, government, and Fortune 500 office segments.
- Healthcare – This sector is one of the top creators of white-collar office employment in Nashville, with companies such as Hospital Corporation of America employing over 200,000 people in the metro area.
- 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 Nashville.
- Government – The Nashville City government and Public School District, the State of Tennessee, and the U.S. Government are all top employers in Nashville.
- Fortune 500 Offices –for Class A office space in Nashville is also driven by the numerous corporate office locations within the city, including Bridgestone, Community Health Systems, Dell, Nissan North America, and Tractor Supply Company.
Nashville Demographics
Population
- Total Population438,954
- Male Population(48.4 %) 212,520
- Female Population(51.6 %) 226,434
- Median Age33.00
Income/Financial
- Average Household Income$75,751
- Median Household Income$45,348
- Median Income Under 25$26,082
- Median Income 25-44$53,013
- Median Income 45-64$50,228
- Median Income Over 65$36,423
- Belmont - Hillsboro Demographics
- Caldwell Hall Demographics
- Cedarmont Estates Demographics
- Century City Demographics
- Craigmeade Demographics
- Donelson Demographics
- Downtown Nashville Demographics
- Elliston Place Demographics
- Germantown Demographics
- Glengarry Park Demographics
- Green Hills Demographics
- Hillsboro Village - Hillsboro West End Demographics
- Larkwood Demographics
- Luna Heights Demographics
- Metrocenter - North Rhodes Park Demographics
- Midtown - Vanderbilt University Demographics
- Music Row Demographics
- Nashville International Airport Demographics
- North Capitol - Sulphur Dell - Market District Demographics
- Plus Park Demographics
- Providence Park Demographics
- Radnor Demographics
- Rolling Mill Hill Demographics
- SoBro Demographics
- The Gulch Demographics
- West End - West End Circle Demographics
- West End Park Demographics
- White Bridge Demographics
News
2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year
September 20, 2018
We’re almost halfway through H2 2018, and it’s high time to check up on construction activity, as well as the state of the U.S. office pipeline when compared to previous analyses. Last year around the same time, we looked at top U.S. cities for office delivery during the fall-winter season, and ...
Winners and Losers in the Labor Market – US States and Metros with the Highest Income Inequality
August 21, 2018
Ever since Gordon Gekko uttered his now infamous credo, “greed is good,” many economists have been concerned with the long-term effects of the growing income inequality in the U.S. While free-market enthusiasts see things differently, inequality has become a recurring topic within our new...
The “14th Annual Curbed Awards” kicked off this year with a list of the most expensive homes sold in New York in 2017. Manhattan’s new slender skyline icon, 432 Park Ave, took up seven spots on the list, including the entire top three. The most expensive New York home of the year was a &...
Cities near Nashville, TN
- Antioch Office Space
- Brentwood Office Space
- Franklin Office Space
- Goodlettsville Office Space
- Hendersonville Office Space
- Hendersonville City Office Space
- Hermitage Office Space
- La Vergne Office Space
- Madison Office Space
- Mount Juliet Office Space
- Mount Juliet City Office Space
- Nolensville Office Space
- Smyrna Office Space
- + More - Less
Nashville, TN zip codes
Neighborhoods
- Belmont - Hillsboro Office Space
- Caldwell Hall Office Space
- Cedarmont Estates Office Space
- Century City Office Space
- Craigmeade Office Space
- Donelson Office Space
- Downtown Nashville Office Space
- Elliston Place Office Space
- Germantown Office Space
- Glengarry Park Office Space
- Green Hills Office Space
- Haywood Acres Office Space
- Hillsboro Village - Hillsboro West End Office Space
- Larkwood Office Space
- Luna Heights Office Space
- Marathon Village Office Space
- Metrocenter - North Rhodes Park Office Space
- Midtown - Vanderbilt University Office Space
- Music Row Office Space
- Nashville International Airport Office Space
- North Capitol - Sulphur Dell - Market District Office Space
- Plus Park Office Space
- Providence Park Office Space
- Radnor Office Space
- Rolling Mill Hill Office Space
- SoBro Office Space
- The Gulch Office Space
- West End - West End Circle Office Space
- West End Park Office Space
- White Bridge Office Space
- + More - Less
Cities near Nashville, TN
- Antioch Commercial Real Estate
- Brentwood Commercial Real Estate
- Franklin Commercial Real Estate
- Goodlettsville Commercial Real Estate
- Hendersonville Commercial Real Estate
- Hendersonville City Commercial Real Estate
- Hermitage Commercial Real Estate
- La Vergne Commercial Real Estate
- Madison Commercial Real Estate
- Mount Juliet Commercial Real Estate
- Mount Juliet City Commercial Real Estate
- Nolensville Commercial Real Estate
- Smyrna Commercial Real Estate
- + More - Less