Downtown office market among region’s worst
By Geert De Lombaerde Posted on July 28, 2009 at 3:01 pm
Almost one in five square feet of downtown Nashville’s office inventory stood empty at the end of June, one of the worst numbers in this part of the country. Only St. Louis’ downtown is in worse shape — and has been for several quarters — while the CBDs of Louisville and Charlotte are looking OK for now.
On the suburban front, Nashville is among the strongest performers (as is St. Louis, go figure) in the region with a vacancy rate of 13 percent.
Tags: city rankings, Colliers Turley Martin Tucker, commercial real estate, downtown, economic indicators, office space
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But, per Granpa, Nashville needs another downtown in MTC
GID, you can run but you can not hide.
This emphasises that downtown Nashville is a “tourist” destination. It has been and will continue to be just that. The MCC will prove more so that fact.
The downtown neighborhoods are great ideas and I hope they are a success. The neighborhood shopping and eateries will benefit from the MCC traffic, bowl game, Titans, Predators, hopefully a new downtown baseball field, and music events that possibly will increase.
But, those who want to move downtown will, and those who want to move away from the difficult travel and parking in the downtown area will and that seems to be the trend now. It is not the possible growth of new suburban developments.
Who is running?
Sooo all the tall buildings downtown (except for the condos) are not for businesses to be located in? So downtown is only for tourists?
Hummm…never heard that before.
Ron
You can talk, but you can’t make sense.
CC nationally have been losing money for over a
decade.
You think the genius’s here will make it work ?
Only the land swindler’s and builders will make
(a LOT of ) money.
Which do you represent ?
Ron’s statements are so off the wall. The proposed{settled) MCC has nothing to do with downtown office rentals. As for all the tourist, it’s summer time and the Grand Ole Opry is cancelling some shows because of lack of ticket sales. The MCC is a beast of burden the city/taxpayers will regret for decades to come if completed. Yet the mayor and council members will get their pensions and 3/4 health ins. paid for by the taxpayers no matter what.