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Market Report

Nashville Retail Market Report

2019 Outlook

Music City Among Most Desired Destinations for Out-of-State Capital

Nashville retail market poised for another strong year.
Although new construction is approximately double last year’s pace, supply additions are in line with the average during the last five years of the cycle. Fifth + Broadway is the largest development underway and is indicative of the commuter-friendly, mixed-use properties builders are favoring in downtown Nashville. The $400 million project contains apartments, Class A office space and 180,000 square feet of retail. High-paying tech jobs will help support retailers in the vibrant core of the city. Amazon, for example, will hire 5,000 workers at its Operation Center of Excellence while EY, formerly Ernst & Young, adds 600 employees. Nashville’s sub-3 percent unemployment rate will make filling these spots a challenge and attract workers from outside the metro. Net migration to the market is already strong, and nearly 25,000 people are expected to move to the market this year, supporting a healthy retail climate.

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