Nashville's office sector is continuing to see growth in rents and that's not anticipated to stop anytime soon, according to a fourth-quarter market report from Savills. Rent rates hit what the real estate firm called a "high" of $36.34 per square foot full service at the end of 2024, from $32.97 a year ago. Class A rates went from $35.77 per square foot in the fourth quarter of 2023 to $39.68.
Overall, rents are "expected to increase further as new premium office space is slated to deliver in 2025," said Savills.
Inventory ticked up to 51.8 million square feet in the last three months of the year compared with 47.8 million, 12 months prior. Also, the availability rate went up by 3.4 percent over the same period.
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