The office vacancy rate in Nashville, Tennessee, is at a 10-year high as the combination of speculative development, rightsizing of tenant footprints and the rise of sublet availability has placed significant pressure on occupancies. At about 10.7%, the metropolitan area’s overall vacancy rate has more than doubled since the third quarter of 2019, when that rate compressed to just 5.5%.
Nashville Office Sublet Availability Rises
Vacancy at 10-Year High as Tenants Shed Space Amid Changing Office Environment
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