There is good news for the Nashville TN real estate and commercial markets. After examining economic factors known to determine future industrial investment real estate, Sperry Van Ness International picked Nashville as one of the “2008 Top 10 Markets to Watch.” The way development is moving, the Nashville, Tennessee real estate market is undoubtedly moving right along up there with the industrial market watch.
The study focused on indicators of future trends, not the current market data for commercial real estate in Nashville. It looks for markets with the greatest potential for income growth based on the indicators. Our city’s particular dynamics include tax incentives, low labor costs, and low utility costs, magnets for bringing such commerce as Nissan Motor Company and Bridgestone/Firestone, Inc. to the area. The annual study pinpointed a future trend for commercial Nashville real estate vacancy rates, projecting that they will continue to decline from 8.6 percent in 2006 to 7.5 percent in 2008.
The other cities chosen for the “2008 Top 10 Markets” are Austin, TX; Charlotte, NC; Fort Lauderdale, FL; Fort Worth, TX; Oakland/East Bay, CA; Inland Empire, CA; Orange County, CA; and suburban Virginia. Each area offers a distinct set of characteristics that affect the indicators.
For this report, the firm analyzed over 40 primary, secondary, and tertiary markets. They looked for economic factors that may affect office investment real estate, industrial job growth, inventory, vacancy factors, and rental trends. According to the November 28, 2007 issue of the Nashville Business Journal, the president of Sperry Van Ness, Jerry Anderson, explained that the report helps build a matrix of forward-looking economic factors and provides crucial information for real estate investors who are deciding where to acquire property.
Sperry Van Ness is a national commercial real estate brokerage firm with more than 900 advisors in over 150 locations. The group’s expertise ranges from brokerage, consultation, asset management, property management, leasing, and accelerated marketing to auction services.
Contact Steve Cnodurelis and The Condurelis Group at 615-425-2218 for information about relocation options in the region.
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