Land of Hope and Dreams: Nashville is booming. What’s next for the Music City?
Apr 22, 2024
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CBRE's podcast features Alex Chambers from Highwoods and Elizabeth Goodwin discussing Nashville's appeal to young people and businesses. They highlight the city's affordability, government investments in entertainment and sports, and growth in tech and retail industries. Nashville offers private investors opportunities in Class B office properties.
Nashville's growth is driven by affordability and quality of life, attracting talent and businesses.
City's government investments in entertainment, sports, tech, and retail have spurred economic growth.
Deep dives
Nashville's Economic Boom and Real Estate Value
Nashville, Tennessee stands out for defying market trends and enjoying growth in the commercial real estate sector, particularly in the office space. Investment firm Highwoods Properties has strategically invested in Nashville, capitalizing on its real estate value and quality of life offerings. The city's Class A properties, along with its compelling growth indicators, make it a promising market for the future.
Diverse Industry Landscape in Nashville
Nashville's economic evolution in the past decade has been marked by significant government investments in sports, entertainment, and infrastructure. The city's booming healthcare industry, entertainment sector, and tech companies are driving its growth. Beyond healthcare and entertainment, the city's retail and tech sectors are thriving, attracting a young and talented workforce.
Highwoods' Strategic Investment Approach
Highwoods Properties, a real estate investment trust (REIT), is strategically focused on development opportunities in Nashville and across the southeastern US. While considering development ventures, Highwoods emphasizes enhancing office space communities to attract tenants back to the workplace. The company's portfolio growth and investment approach position it for long-term success and sustainable market expansion.
Future Growth Prospects and Investment Opportunities
Highwoods anticipates significant growth potential in its Nashville projects, including large-scale mixed-use developments like Ovation. The company remains open to diverse investment approaches, such as offering preferred equity to developers and exploring off-market deals. Nashville's allure to foreign investors from various global markets underscores its growing prominence as a real estate investment destination.
What’s attracting young people, businesses and investment capital to Nashville? Highwoods’ Alex Chambers and CBRE’s Elizabeth Goodwin explain how the Music City has created a cool culture.
Insights to Share:
· Nashville has attracted talent and businesses due to its affordability and high quality of life.
· Nashville’s local government has fostered the city’s growth by investing in entertainment and sports, prompting a surge in related industries, as well as tech and retail.
· With growth poised to continue, driven by the influx of new residents, Nashville offers an opportunity for private investors to buy Class B office properties.
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