A busier year filled with more commercial sales, leases and development. That’s what Nashville commercial real estate professionals are predicting for their market during the rest of 2024.
That type of optimism was common during the fifth annual Nashville Commercial Real Estate Summit held March 26 by Midwest Real Estate News at the Renaissance Nashville Hotel.
A crowd filled with Nashville’s top commercial professionals came to hear the insights from the region’s industry leaders. And the good news they did hear? Local CRE professionals said that 2024 should be a busier year for Nashville’s commercial real estate market.
Credit some of this optimism to the Federal Reserve Board’s decision not to increase its benchmark interest rate for the rest of 2024. But credit also goes to the strength of the Nashville market itself.
As the industry experts who spoke during the summit said, Nashville continues to attract new residents and businesses from across the country. As this trend continues, developers remain eager to build in the Nashville market and investors are happy to sink their dollars into the market’s commercial properties.
The multifamily market remains strong in Nashville, something that the speakersonthe Apartment Market Update & Forecast panel emphasized. Speaking about the continued demand for apartment units in the market weere Vincent Lefler, Multifamily Capital Markets, Executive Managing Director, Newmark; Brittney Rowe, SVP Senior Originator, BWE; Beau Daniel, Senior Development Manager, Bristol Development Group; Weston Burt, Corporate Relations Senior Manager, Doster Construction; Ben Brewer, President and Co-Founder, Elmington Capital Group; Matthew Robinson, Principal, MRP Realty; and Lauren Bonfield, Project Manager, Holladay Ventures.
Panelists shared plenty of positive news, too, during the summit’s Market Sector Update, expressing their expectations of increased activity in all of Nashville’s commercial sectors. Speaking during this panel were Steve Preston, Executive Vice President, CBRE; Holly Buchanan, CCIM, Vice President, Katz & Associates; Mia Keller, Vice President of Development, The Pizzuti Companies; Jenna Muller, Senior Director, Office Leasing & Transaction Advisory, Cushman & Wakefield; Greg Spon, Architect, Regional Director, Ware Malcomb; and Joseph Harrell, Regional Manager, Business Development, Kastle Systems, LLC.
