Nashville Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, CBRE, JLL
Quarterly office market indicators for Nashville, aggregated by CREhunt from Cushman & Wakefield, CBRE, JLL. As of Q2 2026, average asking rent was $36.85/SF/yr and vacancy was 16.3%, per Cushman & Wakefield.
Projected current office pricing — Nashville
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Nashville office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~84% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $36.85/SF/yr | 16.3% | — | — | Cushman & Wakefield |
| Q1 2026 CBRE | $38.24/SF/yr | 18.2% | 128K SF | — | CBRE |
| Q1 2026 Cushman & Wakefield | $37.95/SF/yr | 16.6% | 57K SF | — | Cushman & Wakefield |
| Q1 2026 JLL | $37.93/SF/yr | 21.9% | 202K SF | — | JLL |
| Q3 2025 Cushman & Wakefield | $38.69/SF/yr | 16.7% | 646K SF | — | Cushman & Wakefield |
| Q1 2025 Cushman & Wakefield | $37.84/SF/yr | 16.6% | -78K SF | — | Cushman & Wakefield |
| Q1 2024 Cushman & Wakefield | $33.99/SF/yr | 17.0% | 215K SF | 30 SF | Cushman & Wakefield |
| Q4 2023 Cushman & Wakefield | $33.84/SF/yr | 18.2% | 170K SF | — | Cushman & Wakefield |
| Q4 2020 Cushman & Wakefield | $30.34/SF/yr | 15.0% | -156K SF | — | Cushman & Wakefield |
| Q1 2020 Cushman & Wakefield | $29.20/SF/yr | 10.7% | 12K SF | — | Cushman & Wakefield |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Nashville office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Airport North | $24.87/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Airport South | $29.12/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Brentwood | $32.91/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Cool Springs | $35.37/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Cool Springs/Franklin | $32.96/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Downtown | $45.62/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Green Hills/West Nashville | $39.32/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| MetroCenter | $27.94/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Midtown | $51.10/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Nashville CBD | $41.23/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| North Nashville | $28.45/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| West End / Belle Meade | $43.30/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
How the brokerage sources compare
For Q1 2026, the brokerages CREhunt aggregates for Nashville office did not fully agree. On vacancy, the sources span 5.3 points — from 16.6% (Cushman & Wakefield) to 21.9% (JLL). Asking-rent estimates differ by $0.31/SF/yr — from $37.93/SF/yr to $38.24/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 18.2% | $38.24/SF/yr | — |
| JLL | 21.9% | $37.93/SF/yr | — |
| Cushman & Wakefield | 16.6% | $37.95/SF/yr | — |
Per-brokerage figures for Q1 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in Nashville?
- As of Q2 2026, the average asking rent for office space in Nashville was $36.85/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in Nashville?
- The office vacancy rate in Nashville was 16.3% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Nashville market data come from?
- This report aggregates quarterly office market data for Nashville from Cushman & Wakefield, CBRE, JLL.
- How much do brokerage estimates differ for office space in Nashville?
- For Q1 2026, the brokerage sources CREhunt aggregates for Nashville did not fully agree. On vacancy, the sources span 5.3 points — from 16.6% (Cushman & Wakefield) to 21.9% (JLL). Asking-rent estimates differ by $0.31/SF/yr — from $37.93/SF/yr to $38.24/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.