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Office Market Report Q2 2022

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Tech and Office Sectors Drive Employment Prospects

 

Key Takeaways

  • Nashville's office absorption posted negative 341,051 square feet in Q2
  • Market vacancy increased this quarter due to large blocks of sublease space being put on the market
  • Construction projects reached 3.3M square feet at the close of Q2 2022

 

Nashville’s economy is hitting its stride, having grown at a similar growth rate that it was experiencing prior to the pandemic. According to Oxford Economics, the metro’s net job growth of 4% from Q1 2020 to Q2 2022 ranks 5th highest of the 50 largest metros. Of note, Nashville’s office market has grown by 9% in the same time frame, largely led by the tech, finance, and management consulting industries. Nashville is projected to see annual growth of 1.8% from 2022 to 2026, above the U.S. forecasted growth of 1.3% over the same time frame, based on data from Oxford Economics. The Wall Street Journal and Moody’s Analytics ranked Nashville as the #2 hottest job market in America in . The employment pipeline is strong in Nashville, an indicator for a healthy office market.


Colliers Nashville  Office Market Report Card

Office Market Report Q2 2022

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Related Experts

Katie Lester

Research Director

Nashville

 

Katie joined Colliers in the fall of 2014. She works closely with her advisors, third-party data sources, sales associates and members of the marketing staff to conduct high quality and accurate market analysis, research and reporting for the company and Colliers USA.

Katie plans and executes the company’s research strategy including database creation, management and maintenance, data interpretation, presentation, and marketing of the data, economic and financial analysis, and Colliers International Quarterly Reports. In addition, she is responsible for obtaining the market and industry data for market report production and distribution and executes web searches for pertinent data and information related to research and analysis of local, regional and national trends that influence the commercial real estate market.

 

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