N
ashville's office market is thriving, driven by a surge in tech sector growth. The city led the US and Canada in office net absorption, with a 2.3% increase between Q3 last year and Q2 this year, according to CBRE's Tech-30 report. This exceptional performance stands out against broader market trends, as Nashville was one of only five top 30 tech hubs to see positive growth in office space occupancy.

    Nashville has become a key player in the tech world, with a 5.1% increase in tech-related job growth from 2022 to 2023, second only to Toronto. This growth has contributed significantly to the city's office leasing activity, accounting for over 26% of it so far this year.

    The city's success is due in part to strategic investments aimed at attracting technology companies. The $17.5 million deal with Amazon and Oracle's $1.2 billion investment in an East Bank campus have solidified Nashville's position as a tech powerhouse. As a result, office rent growth has surpassed 6% from Q2 last year to the same period this year, driving robust demand for premium office space.

    Visible signs of Nashville's growth include projects like Southwest Value Partners' Nashville Yards and New City Properties' Neuhoff District. Global technology company L-Acoustics is set to open a headquarters at Nashville Yards, further cementing the city's status as a hub for tech companies.