Yearly Archives: 2014

Music to Our Ears: Nashville’s Office Sector Continues to Soar

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Fueled by a fast-growing economy, Nashville’s office sector once again sizzled in the third quarter, and the market for high-end space in the city’s booming Downtown grew tighter than ever. The vacancy rate for Class A office space in the metro area continued its steady drop, reaching 3.7 percent, down from 4.4 percent in the second quarter and 5.4 percent six months earlier, according to JLL’s Nashville Office Insight Q3 2014 report. The rate… Read More

Tennessee’s Facilities Management Program Continues to Gain National Attention for Innovation and the Substantial Savings it is Giving to the State’s Taxpayers

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The National Association of State Procurement Officials (NAPSO) in September presented Tennessee with George Cronin Award, an annual honor that recognizes advances in innovation, service improvement and cost reduction of state government services. Tennessee received a bronze award for third place, along with first-place Virginia and second-place California.

Katie Lillard, left, and

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Office Leasing Activity Gains Momentum in Nashville

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Heading into the second half of the year, the momentum in Nashville’s office sector shows no signs of slowing.

The already low vacancy rate for Class A office space has dropped even further, from 5.4 percent in first-quarter 2014 to 4.4 percent in second-quarter 2014, according to JLL’s Nashville Office Insight Q2 2014 report. The overall direct vacancy rate also continues to decline, from 9.9 percent in the first quarter to 9.1 percent in the… Read More

Building a better state government through smart real estate

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Nashville

Nashville Skyline

Governors of many states are turning to the private sector and following proven strategies for delivering cost-effective real estate management that saves taxpayers money.

In Tennessee, Governor Bill Haslam took office in 2011 and challenged his new commissioners to determine more effective ways to run state government and to provide the very best services at the lowest possible costs. Within Tennessee’s… Read More

Nashville among secondary markets benefiting from rising global investment

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JLL has just issued its bi-annual Global Real Estate Transparency Index 2014, and the findings are highly encouraging for rising secondary markets in the U.S. like Nashville. The report quantifies real estate market transparency in 102 markets, helping investors and occupiers understand crucial differences between various countries across the globe.

As in the past, the world’s most transparent markets continue to be dominated by the highly liquid English-speaking regions, with the United Kingdom, the United… Read More

Heightened demand buoys Memphis industrial market

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Memphis Industrial Market ConditionsLook for leasing volumes in Memphis’s industrial market to continue to accelerate throughout 2014. That’s part of the positive forecast for Memphis included in JLL’s North America Industrial Outlook. According to the report, total net absorption was a positive 154,430 square feet in the Memphis market in the first quarter of 2014, which follows 3,061,025 square… Read More

Hot Nashville multifamily market posts strong rental growth

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The healthy demand for apartments continues in the metro Nashville market.

One sure sign of the strong demand is the upward trend in rental rates.

As of first-quarter 2014, year-over-year rental rates in Nashville rose by 3.7 percent, according to JLL’s Multifamily Performance Statics Q1 2014 report. That growth rate was the fifth best in the U.S.

According to JLL’s report,… Read More

Nashville among elite company in tech information job growth

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Information job growth: A Nashville strength

Nashville has been making it onto a lot of top 10 lists lately.

A new ranking is particularly welcome news because it shows Nashville has entered elite company in the important tech information sector. Metro Nashville ranks No. 10 in the country for growth in the sector, according to Forbes, which published the list… Read More

REITs target Memphis, Nashville for multifamily acquisitions

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Multifamily REIT 1Q Acquisitions

Multifamily REIT 1Q Acquisitions – Source: Real Capital Analytics, JLL Research

Real Estate Investment Trusts (REITs) seeking multifamily investments are increasingly setting their sights on Southeast U.S. markets to take advantage of the yield and upside potential Southeast markets provide.

According to exclusive research from JLL and Real Capital Analytics, Dallas and… Read More

Three reasons why Nashville’s apartment market will not become overbuilt

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Vincent Leffler, SVP, Nashville Capital Markets, JLL

Vincent Lefler, SVP, Nashville Capital Markets, JLL Tennessee

By Vincent Lefler, Senior Vice President, Nashville Capital Markets, JLL Tennessee

The numerous cranes visible on the skyline are a sure sign that multifamily construction is booming in Nashville.

Construction data certainly corroborates that impression. The number of apartments delivered in Nashville jumped from an average of 1,330 units per… Read More