Why do some markets (such as Nashville office and industrial) attract more investors than others? Fundamentals, of course, but it's more than that, CBRE VP Morgan Hillenmeyer, who specializes in investment deals in Nashville, tells us.
Fundamentals First
Nashville’s metro is No. 5 on CBRE's current list of markets with the lowest office vacancy in the country. Another recent CBRE report found that Nashville is one of only six metros where investors have high expectations for CBD rent growth.
Investors Want Momentum, Too
Nashville has historically been a steady real estate market with a diverse economy and growing population, Morgan points out. "In the last few years, the city has been in the middle of an explosion with increased development, leasing activity and growing rents. Investors want to be a part of that explosion, to see how far the city can go," he explains.
An Attachment Beyond Mere Numbers
While some investors are initially attracted to Nashville for the sound market fundamentals, they become enamored with the city once they visit. "They feel the pulse of the city while driving around, dining out at night, or hearing live music and they want to be a part of it. Investing in Nashville is as much an emotional decision as it is an economic one.”
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