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Nashville, Tennessee’s state capital has experienced an economic boom attracting considerable attention in the past few years. Also known as Music City, Nashville is a compilation of neighborhoods surrounding the downtown core. Considered the friendliest city in America by Travel and Leisure magazine in 2016, Nashville leads the country in southern hospitality. Nashville is not only a center for music but also for healthcare, publishing, banking and transportation.
The city is composed of 21 neighborhoods that define the Nashville office space market, including Green Hills, Lakewood, and West Nashville. In recent years, many public parks have been erected and renovated. Along with three major interstate highways intersecting in the heart of the downtown area, a new public transportation bus hub has been recently built in downtown. Here are a few characteristics that define the Nashville market:
The price of square footage for office rent per year ranges from $12 to $44 with the median being $36. The square footage size ranges from 100 SF to 30,000 SF with the median being 1,290 SF.
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Hillsboro Village sits right between Belmont and Vanderbilt University making it a hot bed for students to gather. The main street, where 21st turns into Hillsboro, contains funky boutiques, bars, restaurants, and one of Nashville's only independent theatres "The Belcourt". Surrounded by single family and apartment housing this urban neighborhood is always bustling.
There is a mix of office product along 21st Ave and Hillsboro with predominantly retail space with small pockets of commercial office space. The options in the area are typically small office space that can be great for startups or small businesses - when you can find it!
Head southeast of downtown Nashville and you'll run into the Airport/Donelson area of the city. With relation to the name this neighborhood houses the International Airport as well as Dell's former local headquarters. The Nashville airport area makes an easy commute to downtown, Opry Mills, and several interstates.
Reasonably priced office space and quality product make the Airport one of the best area to find some great deals close to the city. Most commercial office space offers abundant parking options with great amenities close by.
Home to hundreds of small businesses and restaurants, Berry Hill sits just south of Nashville’s 8th Ave. South district. Technically Berry Hill is its own city, but most Nashville natives consider it just another distinct neighborhood. Lower rent than the surrounding areas, such as Green Hills and the Gulch, is one of the reasons Berry Hill attracts so many small businesses. As Berry Hill and 8th Ave grow many new and often creative office space options are coming available with several larger scale commercial developments underway.
About ten miles south of the city of Nashville, Brentwood is known as a great place to live for families craving the best public schools in the Nashville area. It also houses the Maryland farms, an upscale office park which contains close to five million square feet in office space. Several companies including Comdata, Tractor Supply Company, EMI Christian Music Group, and Howard Books are all headquartered in Brentwood, TN.
Mostly traditional class A office space with rates that are comparable to the Cool Springs and Franklin area. Parking is typically included in rent and the location allows for great access for commuters.
Located about 15 miles south of Nashville (just east of Franklin), Cool Springs has quickly become one of the most popular communities not only to reside, but also to do business. Home to companies such as Nissan and CHS, Cool Springs is pressing full steam ahead in building Class A office space in hopes to accommodate more businesses to moving their headquarters to the area.
Cool Springs boasts some of the best public schools in the Middle Tennessee area, Williamson County is seeing a large influx of out-of-towners looking to set up shop in the area. A great option for businesses seeking a high end corporate environment, Cool Springs offers a sprawling area of Class A office space and plenty of parking to support it.
Downtown Nashville is the epicenter of the city's entertainment industry, as well as the heart of its business center. With cranes dotting the skyline, Nashville’s downtown is rapidly changing to attract more major businesses to the area. New developments are seemingly announced daily one of the hottest growing cities in the nation. Nashville’s city council appears determined to make the Downtown area a place for people to live and work rather than a tourist attraction for out-of-towners.
Downtown Nashville offers creative office space and traditional options typically at lower cost than surrounding areas. Parking is a challenge, but the urban environment is appealing to many businesses.
In the past ten years there's been a complete re-vamp of the East Nashville neighborhoods. On the residential side most houses are built in the 1910's to 1940's and most have preserved their character over the years. Mostly musicisans, songwriters, and young families are attracted here. 5 Points is always hopping and the Tomato Arts Festival every August is the highlight of the neighborhood. It's growing in commercial space down the main corridors such as Gallatin Pike and Trinity Lane.
Pockets of great office space lie peppered throughout the neighborhoods of East Nashville. With a little creativity these can be the most fun and diverse office space options in Nashville.
Franklin is located just south of Nashville and most recently named in Southern Living's "Best Small Town" top ten list. Although this is a predominantly residential area, there are pockets of commercial and office space in and around the quaint main street area which is full of antique shops, trendy boutiques and acclaimed restaurants. Commercial space is typically in unique settings and is typically set up for more creative type options such as the Factory at Franklin development.
This being a high in demand historic area, supply is limited but this is some of the most creative space in a suburb area outside of Nashville.
This one time industrial area is quickly becoming a hotspot for businesses in Nashville. Located just north of downtown, Germantown’s old industrial warehouses are being converted into the open, creative office spaces that so many companies are seeking. It’s not just office space being built; restaurants and new residential developments are popping up all over Germantown.
The relocation of the Nashville Sounds to the area, along with plans for retail and mixed use space, will certainly have more business owners looking to settle down in one of Nashville’s hottest areas. This high in demand neighborhood provides modern and creative office options, however supply is limited with new developments trying to keep up.
Looking for convenience to shopping in the Music City? Green Hills is the place for you! Anchored by the Green Hills Mall and the Hill Center, this neighborhood boasts some of Nashville’s best shopping. Just south of I-440, this high end community is considered one of the most desirable places to live in Nashville; not only because of the shopping but also the easy access to Downtown and other nearby neighborhoods such as Forest Hills, Oak Hill, and Brentwood.
This area offers traditional office product combined with many mixed use developments (retail and office combined). Quality office space options and a modest price point keep it appealing for many businesses.
Hillsboro Village sits right between Belmont and Vanderbilt University making it a hot bed for students to gather. The main street, where 21st turns into Hillsboro, contains funky boutiques, bars, restaurants, and one of Nashville's only independent theatres "The Belcourt". Surrounded by housing this urban neighborhood is always bustling.
Hillsboro Village is predominantly retail space with small pockets of commercial office space. Office space is traditionally smaller space.
MetroCenter is the office park that sits just 4 miles north of the downtown area boasting close to 2 million square feet in total office space inventory. Although it's not all office space, Watkins College of Arts sits at the front of the area and Titan's practice field can be seen in the center of the park both diversify this area of Nashville. The city greenway weaves around the backside of the property alongside the Cumberland River is a great place to walk or bike on lunch breaks.
Great option for businesses looking for a large amount of traditional office space in a central location. Parking is often included and averages 3 to 4 spots per 1000 SF leased.
Music Row runs just south of downtown and runs parallel to the West End district. Historically this neighborhood tends to claim most of the recording studios and publishing companies of the music business. Edgehill Village runs parallel to Music Row and houses a large amount of creative space for offices with retail space occupying the front facing streets.
Office space tends to be dwindling because of some major multi family developments popping up in the area, however this continues to be one of the most in-demand spots in Nashville.
SoBro ("South of Broadway") is home to the Music City Center and the Omni Hotel. It is the most recently branded neighborhood and will be one of the most developed in the next few years. Walking distance to one of the main tourist areas Broadway. Trolley Barnes was the first development to draw attention to this area - an old trolley storage space that now houses Nashville's Entrepreneur Center and Emma Email Marketing company. The connector bridge from the Gulch will draw many more pedestrians in the coming years.
New opportunities are continually popping up in this Nashville neighborhood. The area is quickly becoming one of the hottest places for creative office space and entrepreneurs to find their place to work.
Located just south of downtown Nashville, the Gulch has seen a complete overhaul over the past decade. With multiple high rise condo developments going up in the area, the Gulch is definitely one of the hottest spots to live in Nashville. New office buildings are popping up in the area as well, the Gulch Crossings will be the first high end office building in the neighborhood and plans on attracting high end tenants to fill its space. Prices in the Gulch are among the highest in the city, yet the demand remains steady as more urbanites flock to the city.
The Gulch's demand only continues as the expansion and growth of the connector bridge is in the works. The area features some of Nashville's best creative office space as well as the newest "Class A" developments.
West End runs out the south side of downtown containing areas like Midtown and Elliston Place and runs alongside Vanderbilt University. West End also contains metros largest park in the city, Centennial Park which contains a replica of the Greek Parthenon representing Nashville's nickname "Athens of the South". Lots of bars and restaurants surround this area to support the college scene and it tends to be a high end location for businesses.
The West End area provides many options mixed among it's unique settings. Tenants can find creative space in converted buildings and high end upscale buildings to call home.