Nashville leasing activity shifting towards smaller office footprints

–The post-COVID office market has shown tenants largely shifting towards smaller office footprints compared to the pre-COVID era, with the average office lease year-to-date roughly 2,000-sf smaller than the pre-pandemic average of 7,588 sf.

–While office space in Nashville has become increasingly more expensive across all asset classes due to heightened construction costs, tenant demand remains strong as over 3 msf of office space is actively being sought in the market.