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Market Report

Tennessee Office Market Report

Second Quarter 2019

Corporate Relocations and Expansions in Tennessee Bolster Space Demand

 

New companies filling Nashville office space. AllianceBernstein and Amazon are two of the largest firms to announce plans to expand in the Music City. AllianceBernstein is relocating its headquarters and 1,000 workers from Manhattan to 205,000 square feet in the Fifth + Broadway project in 2020. In the meantime, the firm is locating in the WeWorks building. Amazon has committed to opening its 1 million-square-foot Operations Center of Excellence in the Nashville Yards development downtown. Roughly 5,000 office workers will occupy the space when completed in 2021. Robust leasing activity and steady rent growth have encouraged a wave of speculative buildings to begin construction. These additions will likely bump Nashville’s vacancy up in the near term.

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