Investor Interest In Nashville Driven By More Than Strong Fundamentals
Houston-based Richland Cos, which owns 34 commercial properties in the Southeast, has a toehold of two properties in Nashville. Richland CEO Edna Meyer-Nelson tells us the company wants more.
"Leasing volume will stay strong in Nashville for several reasons, and as investors we're keen to see just how far this market will grow," Edna says. The fundamentals are solid, she adds, featuring one of the lowest office vacancy rates in the country, with healthcare, tech and manufacturing driving demand for all types of properties.
Edna (right) is shown with Richland Cos VP of acquisitions and property sales Michelle Kirsch and chairman of the board Suzanne Klein at the Links of Spanish Bay in Pebble Beach.
But the market has more going for it than strong fundamentals. "There's a lot going on, not just in real estate, and that's garnering attention nationally. Also, new companies are entering the market because it's centrally located, which is always attractive to investors." Recently, Powertel T-Mobile inked a 19k SF lease at Richland Cos' Haywood Oaks Eight, which is at 3800 Ezell Rd near Antioch.
"We’re starting to see investors reallocate money they'd allotted to other markets into Nashville," Edna notes. "As investors, we’re all keeping our eyes on Nashville right now to join in that growth. Richland is looking forward to expanding our footprint there.”