Office availability rises as Nashville tenants seek upgrades

–Older class A office properties in Nashville continue to experience a rise in available space as tenants favor newer and more amenity-richbuildings. With “flight to quality” continuing to be the driving narrative, trophy properties have absorbed the vast majority of positive market movement over the last few years.

–Some local landlords are taking note, with Highwoods recently announcing a rebrand of its Symphony Place tower with renovations including lobby upgrades, new retail, a private club, amenity level, and rooftop park.

–Nashville’s overall office availability reached 27% at the end of 2024, a 430-basis point increase since 2020. This was driven by a robust construction cycle, office space consolidation, and decreasing average lease sizes.