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Nashville Office Market Eyes 1M-SF Absorption

NASHVILLE-The office market scores its seventh straight quarter of six-digit absorption with 485,377 sf for the quarter and one million projected for the year.

By Natalie Keith | Updated on October 04, 2007

NASHVILLE-With 485,377 sf of net absorption for the third quarter, the office market is on target to reach one million sf of absorption for 2007, according to a CB Richard Ellis Q3 office market report for Nashville.

With the positive absorption, the seventh straight quarter of six-digit absorption, the vacancy rate at the end of the quarter was 9.74%. Average asking lease rates were $17.35 for the quarter. The majority of the space demand occurred in the class A sector, which posted 332,632 sf of positive growth.

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