MARKET TRENDS
- Nashville's vacancy rate held steady at 6.2% quarter over quarter, as 1.7 million square feet (msf) of net absorption in Q2 nearly offset 1.9 msf of new deliveries, reflecting a balanced market where supply and demand remain in healthy alignment.
- Average asking rents reached a high of $9.36 per square foot (psf), marking a 10.9% year over year increase. Rates now stand 33.3% above the five-year quarterly average, driven by the delivery of new speculative product and sustained demand for premium space across the market.
- Net absorption totaled 1.7 msf in Q2 2025, the highest level since Q2 2024. The largest move-in of the quarter occurred in the North submarket, where ServeOne America occupied 750,000 square feet (sf) at 1171 Vaugh Parkway.