MARKET TRENDS
- Availability tightened to 22.5%, down 130 basis points (bps) quarter over quarter due to strong leasing activity and strong tenant demand
- Leasing activity rose over 150.0% quarter over quarter to 1.1 million square feet (msf), the highest level recorded since Q3 2019, underscoring the resilience of the Nashville market
- Rental rates continue to rise, reaching a high of $36.86 per square foot (psf), a 7.2% year-over-year increase driven by ongoing flight-to-quality trends among occupiers in the market