In less than a year, JLL Nashville team has grown by leaps and bounds, a strong reflection of the Nashville market’s meteoric rise in commercial and residential real estate. Since 2016, more than 10 team members have signed on and rolled up their shirt sleeves, ready to help their clients and the company achieve ambitions and exceed business goals.
Deliveries ramp up
Continuing at an accelerated pace, quarterly deliveries are expected to peak in Q3 of this year. By year-end, 389,000 units will have delivered nationally with Dallas, New York and Houston seeing the greatest increase in inventory. Among secondary markets, Nashville, Austin and Charlotte are seeing the most active construction pipelines.
On Monday, August 23rd, 2017, the world paused for nearly two minutes to experience a solar eclipse,where the moon briefly rotates between the earth and the sun. Eclipse fever was on full throttle in Music City, the largest city in the path of the first coast-to-coast eclipse in 99 years. JLL Nashville experienced the once-in-a-lifetime phenomenon on a downtown rooftop, in their certified solar eclipse eye gear.
For a second consecutive year, the Nashville Business Journal (NBJ) has recognized JLL Nashville, a company committed to achieving ambitions for its team, clients and communities, as one the Best Places to Work in 2017.
The 14th annual list surveys and selects businesses in Middle Tennessee that demonstrate a strong commitment to creating positive work environments that foster respect, comfort and employee engagement for the past 14… Read More
Market fundamentals in Smashville are still neck and neck with some of the hottest markets in the country. Midway through the year, rental rate growth has stayed strong; however, vacancy has marginally begun to rise. Rental rates grew to $4.68 per square foot. Meanwhile, vacancy rose 10 basis points to 4.1 percent. With vacancy and rents at a respective 2.5 percent increase and 4.8 percent growth since Q1, Nashville’s
- The office vacancy increased slightly for the third consecutive quarter – by 50 basis points.
- The office market is currently tied with San Francisco for the second most occupied market in the country.
- Rent declined marginally at 1.2 percent, landing at $25.46.
- 7 million square feet of new product is projected to deliver by Q4 2017; 73.0 percent of this product … Read More
JLL’s Tom Hooper and Bo Tyler Land on the Nashville Business Journal’s 2017 Commercial Power Leaders List
On May 20th, 2017, the Nashville Business Journal unveiled its annual 2017 Commercial Real Estate Power Leaders List, comprised of 50 top finalists in architecture, engineering, construction, professional services, and property and facilities, as well as brokerage firms, developers, executives and Rising Stars. Two of JLL Nashville’s finest, Managing Directors Tom Hooper and Bo Tyler, were featured on… Read More
Nashville is challenging historic trends in supply and demand and the effects on rent. Supply is outpacing demand, yet rent continues to grow. Between Q4 2016 and Q1 2017, total vacancy increased 192 basis points, respectively from 6.2 percent to 8.1 percent. Nonetheless, direct average asking rent in 2017 increased 218 basis points, respectively from $23.59 to $25.78. Vacancy most sharply increased in suburban product, at 39 percent, and rent also grew the strongest… Read More
Since 2010, vacancy has continued to drop. This quarter is no different and sets the tone for another year of high demand in Nashville. Leasing activity is highest in the Southeast submarket and picking up in the submarkets closest to the core. While pre-leasing on new construction has slowed, industrial demand remains strong.
- Vacancy fell to 4.0 percent, down … Read More