As Nashville’s economy continues to recovery from the COVID pandemic, the industrial market has remained tough with increasing tenant demand and activity.
Mentioned in Cushman & Wakefield’s Q1 Industrial Report, Nashville’s industrial market is expected to deliver more than 10 million sq. ft. of new product by the end of 2021, setting a new record for most new construction in history. 1
Since 2011, Nashville developers have added over 33 million sq. ft. to the market. With developers investing into the industrial market, it has lowered vacancy rate to as little as 3.2%.2
CA South has noticed the demand of the industrial market and has helped to add industrial properties to the market. Currently, CA South has over 500,000 industrial sq. ft. under construction and is determined to add more.
CA South is addressing an extreme shortage for small format industrial (flex-office) product for individual warehouse users between 3,000 sq. ft. and 50,000 sq. ft.
CA South is focusing on in-fill locations that are a shorter and more convenient commute into the urban core – often part of the “last mile” solution.
Callis Road Industrial Park is one of CA South’s current industrial project. It is under-construction flex-office industrial development on 33 acres, located 20 miles East of Downtown Nashville. This 375,000 sq. ft. project is anticipated for completion by December 2021.
The next industrial project slated for delivery is located on Myatt Drive. Currently under-construction, the 171,000 sq. ft. spec flex industrial development is located at 526 Myatt Drive in Madison, TN. This project is 15 mins from downtown Nashville and just blocks away from Amazon’s new last mile distribution center. Myatt Drive’s anticipated completion date is Q1 2022.
To keep up with CA South’s contributions to Nashville’s demanding Industrial Market, visit casouthdevelopment.com and sign up for our newsletter for quarterly updates.
1 https://f.datasrvr.com/fr1/621/77141/Nashville_Americas_Marketbeat_Industrial_Q12021.pdf
2 https://www.us.jll.com/en/trends-and-insights/research/industrial-market-statistics-trends/nashville