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Nashville Office Market Dynamics Q1 2026
This is a market report published by JLL in March 2026 covering office sector dynamics in Nashville, Tennessee during the first quarter of 2026.
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This is a market report published by JLL in March 2026 covering office sector dynamics in Nashville, Tennessee during the first quarter of 2026.
This is a market report published by Colliers in March 2026 covering the office sector in the Raleigh-Durham area of North Carolina, with national scope. The report provides market analysis for the first quarter of 2026.
The document is a navigation and index page for Cushman & Wakefield's Raleigh MarketBeats reports covering Q1 2026 across office, industrial, life sciences, and multifamily property sectors. It provides summary statistics including office vacancy at 22.3% (up 10 basis points quarter-over-quarter), industrial vacancy at 9.0% (up 90 basis points), life sciences vacancy at 27.6% (down 120 basis points), and notes that the Raleigh-Durham multifamily market has delivered over 33,000 units since 2023.
The Memphis industrial market in Q1 2026 achieved 2.5 million square feet of net absorption, the highest quarterly figure since Q4 2022, driven primarily by bulk deals exceeding 500,000 square feet and expansion activity from technology and energy manufacturers including Jabil and Hyosung HICO. The vacancy rate declined to 7.7%, the lowest since Q3 2024, with net asking rents for warehouse/distribution space remaining relatively stable at $4.15 per square foot while concessions continue to moderate as large-block supply tightens.
The Charlotte office market recorded 858,500 square feet of new leasing in Q1 2026, with vacancy declining 20 basis points quarter-over-quarter to 24.2% and asking rents increasing 1.4% to $34.81 per square foot, driven by strong demand from financial services tenants including JP Morgan and Charles Schwab, and the metro ranking first nationally in job growth with 39,200 positions added year-over-year. The market is expected to see continued elevated leasing activity, declining vacancy as new supply remains limited with only Queensbridge Collective under construction, and further rent increases particularly in Class A properties due to supply constraints and tenant preference for newer, higher-quality assets.
This is a first-quarter 2026 office market data report for Jacksonville, Florida published by CBRE covering office sector figures.
Jacksonville's retail market delivered nearly 695,000 square feet of new space over the past 12 months while vacancy increased 50 basis points year-over-year to 5.1%, with annual asking rent growth slowing to 1.7% and averaging $26.08 per square foot as of Q1 2026. Investment sales totaled near $730 million across more than 420 transactions with an average price of $193 per square foot, while demand declined from the prior year with net occupancy losses of 90,500 square feet, though St. Johns County remained the strongest performer with over 113,000 square feet of absorbed space.
Charlotte's industrial market recorded a 7.7% vacancy rate and $8.65 per square foot asking rent in Q1 2026, with year-to-date net absorption of 2.7 million square feet driven by strong logistics demand and job growth that ranked first nationally among 104 tracked U.S. metros at 39,200 positions added. The active development pipeline totaled 7.2 million square feet with 1.3 million square feet of speculative completions delivered in the quarter, and over 4.5 million square feet of additional speculative construction expected to deliver in 2026 as the market moves toward equilibrium.
Charlotte's sub-125K SF industrial segment reported a 5.8% vacancy rate and 4.6% year-over-year rent growth reaching $10.63/SF in Q1 2026, with approximately 2.1 million SF under construction and negative absorption of 275K SF reflecting modest demand softening. The segment showed relative resilience compared to the broader market, with institutional investment activity rebounding and sales pricing reaching $119/SF, supported by limited new supply in smaller-format spaces.
This Cushman & Wakefield report analyzes Nashville's office market in Q1 2026, documenting a 16.6% overall vacancy rate, $37.95 per square foot asking rent, 57,195 square feet of net absorption, and 601,013 square feet of new leasing activity driven primarily by Oracle's 116,026-square-foot lease at Neuhoff in the Central Business District. The report notes Nashville's stable economy with 3.0% unemployment and 1.2 million employed residents, while highlighting that no new office projects delivered in Q1 and construction remains limited to 231,320 square feet across three AJ Capital projects in the Airport South submarket, with expectations for continued vacancy improvement as signed leases commence.
Jacksonville's office market recorded a 20.7% overall vacancy rate in Q1 2026, declining 260 basis points year-over-year to its lowest level since Q3 2023, with average asking rent holding firm at $23.01 per square foot, up 0.6% year-over-year. Leasing activity totaled nearly 117,000 square feet in Q1, down from the previous quarter and year-ago period, with suburban submarkets capturing 90.4% of deals and Deerwood Park commanding the highest rents at $24.35 per square foot.
This is a fourth-quarter 2025 office market report for the Raleigh-Durham area published by Colliers, covering commercial real estate activity in that North Carolina region.
This is a market report published by Northmarq on December 31, 2025, covering multifamily real estate transaction activity in the Raleigh-Durham area during the fourth quarter of 2025, with a focus on a rebound in activity during that period.
This is an industrial sector data report published by CBRE on December 31, 2025, presenting fourth-quarter 2025 figures for the Raleigh-Durham market in North Carolina.
This is a fourth-quarter 2025 market report published by Colliers covering the industrial sector in the Raleigh-Durham area of North Carolina. The report provides market analysis for the industrial real estate segment in this geographic region.
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The Raleigh-Durham industrial market in Q4 2025 recorded average asking rents of $10.17 per square foot, up 0.9% year-over-year, with rent growth sustained despite rising vacancy supported by newer inventory and higher replacement costs. Vacancy increased to 6.4% in Q4 2025 from 6.1% one year prior, while year-to-date 2025 net absorption totaled 1.7 million square feet, up from 1.1 million square feet in 2024, as inventory growth continued to outpace demand.
The Memphis industrial market absorbed 5.1 million square feet in 2025, representing a 122% increase over 2024, driven by demand from energy, power, and technology sectors including solar panel storage (1.4 million square feet) and data center operations. Vacancy fell 40 basis points to 8.5% in the fourth quarter, while average net rent for warehouse/distribution declined slightly to $4.12 per square foot as landlords prioritized occupancy through concessions rather than rate reductions, with base rent escalations moderating to the 3% to 3.25% range.
This is a retail market report for the Raleigh-Durham area published by Colliers at the end of the fourth quarter of 2025. The report covers retail sector conditions in this North Carolina market.
The Cushman & Wakefield Memphis Office Q4 2025 report analyzes market fundamentals for the Memphis office sector, showing a 17.6% vacancy rate, 85,000 square feet of year-to-date net absorption, and an overall asking rent of $19.28 per square foot, with employment at 661,000 and unemployment at 4.6%. The report notes that Memphis recorded its lowest annual absorption since 2021 but ended the year positive through midsize move-ins with no large move-outs, while large deals remain rare and medical tenants are driving increased demand in the 5,000–15,000 square foot range, with tenant improvement allowances becoming a key factor in closing deals.
The Charlotte metro multifamily market recorded 3,547 units of net absorption in Q3 2025, marking the 11th consecutive quarter of positive absorption, with stabilized occupancy at 91.9% despite effective rents declining 1.4% to $1,595 per unit. The region's economy expanded with 8.2% population growth over five years and 2.2% year-over-year nonfarm employment growth, while 20,042 units remained under construction with the South End and LoSo submarkets combining for 34.5% of quarterly absorption.
Jacksonville's multifamily market in Q3 2025 showed early stabilization with vacancy declining to 12.2% and positive absorption despite soft asking rents averaging $1,500 and negative 1.5% annual rent growth, reflecting pressure from several years of heavy supply delivery. The market featured 813 units delivered during the quarter with 2,800 units remaining under construction, sales volume of $315 million at an average price of $181,000 per unit and 5.8% cap rates, while the metro continued strong in-migration and employment growth supported by investments including a new University of Florida graduate campus and Otto Aviation manufacturing facility.
This is a retail market report published by JLL in June 2025 covering market dynamics in Nashville, Tennessee during the second quarter of 2025.
The Tampa-St. Petersburg multifamily market is experiencing rebalancing as in-migration slows, with the metro projected to post its slowest annual population growth since 2011, and net absorption sharply declined in the second half of 2025 after six consecutive quarters above 2,000 units. Vacancy across Class A, B, and C properties remained in the 5 to 6 percent range heading into 2026, with construction deliveries expected to slow in some submarkets like West Pasco County-Hernando and the Peninsula while accelerating in Central Tampa and New Tampa-East Pasco County, though no deliveries are currently scheduled for 2027.
The Matthews Tampa industrial market report for Q1 2026 documents market fundamentals that softened as vacancy rose to 7.3% despite 379K SF of positive absorption, with 322K SF of new deliveries and 2.6M SF under construction continuing to pressure fundamentals. Asking rents reached $12.69/SF with annual growth of 3.4% representing a significant deceleration, while industrial sales volume totaled $240M with average sale prices at $154/SF and cap rates at 7.6%.
This is a first-quarter 2026 office market data report for Tampa, Florida published by CBRE on March 31, 2026.
This is an industrial sector data report published by CBRE on March 31, 2026, presenting first-quarter 2026 figures for the Tampa market.
Orlando's office market in Q1 2026 recorded a vacancy rate of 16.5%, down 40 basis points from the prior year, with asking rents rising to $26.65 per square foot, while leasing activity totaled 456,000 square feet, down 14.9% year-over-year, with the central business district accounting for 32.2% of new leases. Class A properties dominated leasing at 60.7% of total activity, though rents declined 3.8% year-over-year to $28.45 per square foot, while the Airport/Lake Nona submarket experienced the highest vacancy at 30.8% and steepest rent decline of 5.1% year-over-year.
Orlando's industrial market recorded a vacancy rate of 8.1% and net asking rent of $9.49 per square foot in Q1 2026, with year-to-date net absorption of 187,100 square feet despite leasing activity declining 70.5% year-over-year to 696,000 square feet, the slowest quarter since early 2020. The market faces upward vacancy pressure from 3.1 million square feet under construction with only 30.9% preleased, while employment grew 0.7% year-over-year with Orlando's unemployment rate rising to 4.1% as of Q4 2025.
Orlando's retail market in Q1 2026 showed strong performance with net absorption of approximately 540,000 square feet over the preceding 12 months, vacancy near historic lows at 3.9%, asking rents at $31.19 per square foot reflecting 5.4% year-over-year growth, and sales volume reaching $523 million. The market remained structurally undersupplied with only 1.17 million square feet under construction, mostly preleased, while leasing activity rose more than 15% year-over-year despite tenant expansion constraints from limited availability.
Orlando's multifamily market delivered 9,503 units in the past 12 months (expanding inventory by 4.4%), but construction activity declined 34.1% year-over-year to its lowest level since 2020, with stabilized occupancy falling 70 basis points to 92.0% and effective rents declining 2.1% to $1,804 per month. Net absorption totaled 1,866 units through 2026 year-to-date, down nearly 1,000 units annually, with I-Drive Orlando and Southwest Orlando submarkets leading the region in absorption despite high new supply levels.
Tampa Bay's multifamily market delivered 1,059 units in Q1 2026 (down 54.7% year-over-year), with 31 buildings totaling 8,908 units under construction, while stabilized occupancy fell to 91.0%, the lowest level in a decade, and effective rents declined 4.9% year-over-year to $1,806 per square foot. Investment activity remained strong with $2.0 billion in total sales, the second-highest volume in Florida, at an average sale price of $231,000 per unit, though select submarkets including East Tampa (95.5% occupancy) and Downtown Tampa (93.4% occupancy) continued to perform well.
Tampa's retail market in Q1 2026 maintained a 3.7% vacancy rate near historic lows despite negative net absorption of approximately 80,000 square feet driven by store closures and bankruptcies, while asking rents averaged $27.00 per square foot with continued quarterly growth supported by a constrained construction pipeline of roughly 800,000 square feet, most of which was preleased. The metro's strong fundamentals reflected population growth exceeding 3.4 million residents, unemployment at 3.9%, and broad tenant demand across grocers, discount retailers, fitness, and medical users, with annual investment sales volume reaching approximately $1.6 billion at a cap rate around 6.7%.
Tampa Bay's office market achieved its lowest vacancy rate since year-end 2021 at 18.2% in Q1 2026, down 110 basis points year-over-year, with the market ranking ninth nationally for annual vacancy improvements and posting 115,000 square feet of net absorption driven by major tenant move-ins including Geico's 61,000-square-foot expansion at Corporate Oaks I. Direct asking rents reached a historical high of $33.02 per square foot with Class A space commanding $36.30 per square foot (up 4.6% year-over-year), while 563,000 square feet of new leasing activity occurred in Q1 with the Westshore submarket leading at 264,000 square feet and concentrated primarily in Class A product representing 59.4% of activity.
Cushman & Wakefield's Tampa Bay retail market report for Q1 2026 shows that vacancy inched up 50 basis points year-over-year to 3.8% while remaining below the national average of 5.9%, with average asking rent rising 1.7% to $27.02 per square foot. Tampa's retail investment market recorded $324 million in total sales (up 6.9% year-over-year), ranking third-highest in Florida, with Q1 leasing activity reaching 813,000 square feet and nearly 92% of investment deals closing below $5 million.
Tampa Bay's industrial market vacancy rate decreased to 6.8% in Q1 2026, down 20 basis points quarter-over-quarter, with asking rents closing at $10.59 per square foot and reflecting a 2.6% year-over-year increase. Leasing activity totaled 1.2 million square feet in Q1, up 37.4% year-over-year, driven primarily by warehouse/distribution deals, while 1.5 million square feet remained under construction with 81% still available, expected to further elevate vacancy rates in coming quarters.
Orlando's retail market in Q1 2026 experienced supply-side constraints with only 857,000 square feet of new space delivered over the past 12 months while overall vacancy remained under 4.0%, driving average asking rents to $31.29 per square foot, a 5.1% year-over-year increase that outpaced the national average. The investment sales market remained resilient with $1.5 billion in transaction volume over the last 12 months (a 4.8% year-over-year increase), though retail demand contracted with 155,000 square feet of net occupancy losses in Q1, with cap rates ranging between 5.0% and 7.0%, below the national average of 7.3%.
The Inland Empire industrial market experienced rising vacancy and negative net absorption in Q1 2026, with the overall vacancy rate increasing to 8.5% and year-to-date net absorption turning sharply negative at 3.4 million square feet, driven primarily by four large tenant move-outs exceeding 1 million square feet each. Regional employment growth remained modest at 0.9% year-over-year with declines in industrial-relevant sectors including construction, professional services, and manufacturing, while direct asking rents declined 6.2% quarter-over-quarter to $1.05 per square foot per month as elevated vacancy continued to pressure pricing across all submarkets.
Kidder Mathews' Q1 2026 Sacramento industrial market report documents a market in transition, with the direct vacancy rate reaching 6.7% (a 10-year high) and total availability climbing 190 basis points year-over-year to 10.3%, driven by softening demand and recently delivered space. Leasing activity totaled 1.6 million square feet in the quarter with negative net absorption of 406,000 square feet, while asking lease rates remained stable at $0.82 per square foot NNN and the regional unemployment rate rose to 5.2% in January 2026.
Sacramento's office market maintained a direct vacancy rate of 11.2% in first quarter 2026, unchanged from the prior quarter but up 40 basis points year-over-year, while leasing activity improved 4.2% to 643,747 square feet and asking rents declined 1.9% to $2.17 per square foot as landlords offered concessions. The market showed early stabilization signs with declining availability and renewed government tenant demand, notably the Sacramento District Attorney's Office signing a 121,074 square foot fifteen-year lease, though net absorption remained negative at minus 25,948 square feet and investment activity stayed muted with zero new deliveries.
This is a quarterly market report published by Colliers in March 2026 covering the industrial sector in the San Jose-Silicon Valley region of California.
San Antonio's office market in Q1 2026 maintained stability with overall vacancy steady at 16.0% and asking rents rising 3.4% year-over-year to $27.80 per square foot, while the region's unemployment stood at 4.1% with nearly 14,000 jobs added annually despite negative net absorption of 20,000 square feet in the quarter. Speculative office development remained paused with no new construction projects delivered or underway, reflecting elevated vacancy, moderate tenant demand, and elevated development costs and financing challenges.
This is a Q1 2026 industrial sector data and figures report for Orlando published by CBRE in March 2026.
Kidder Mathews' Q1 2026 Silicon Valley office market report shows leasing volume of 2.1 million square feet (down 48.2% year-over-year), a vacancy rate holding at 16.5%, and asking rents averaging $4.16 per square foot, with activity concentrated among large strategic tenants rather than broad-based recovery. The market saw office investment sales of 615,000 square feet across 11 transactions at $546.1 million total dollar volume, while availability tightened to 16.6%, and Santa Clara County's unemployment rate was 4.0% in December 2025.
This is a first-quarter 2026 office sector data report published by CBRE covering Sacramento, California.
The Orange County retail market in Q2 2026 showed a vacancy rate of 3.8%, average asking rents of $2.72 per square foot per month, positive net absorption of 240,744 square feet, and an average sales price of $572 per square foot, with major transactions including the sale of 43 Auto Center Drive for $49.9 million and Burlington's 26,395-square-foot lease at Von Karman Plaza. Construction activity included 284,179 square feet under development and year-to-date deliveries of 85,425 square feet, with major projects scheduled for first-quarter 2027 completion.
The Kidder Mathews Orange County Multifamily Market Report for Q2 2026 documents market conditions including a 4.3% vacancy rate (up 50 basis points year-over-year), average asking rents of $2,727 per unit monthly (1.8% year-over-year increase), 3,258 units delivered year-to-date (311.4% increase from 2025), and 1,615 units of net absorption year-to-date (29.8% increase from 2025). The report notes that average multifamily sale prices declined to $338,935 per unit (7.0% year-over-year decrease) with cap rates expanding to 5.0%, while units under construction fell 49.7% to 3,093 units as major projects including Pacifica Place at Irvine Spectrum (1,100 units) and Meridian at The Market Place (831 units) were completed by April 2
This is a data report published by CBRE on March 31, 2026 presenting Q1 2026 research and development figures for Silicon Valley, covering the office and life-sciences sectors across San Jose, San Francisco, California, and national markets.
Kidder Mathews' first-quarter 2026 retail market report for the Inland Empire shows a vacancy rate of 6.3%, up 30 basis points year-over-year, with average asking rents declining 1.59% to $1.71 per square foot per month and average sales prices falling 17.85% to $285 per square foot. Construction deliveries totaled 268,162 square feet with net absorption of 287,027 square feet, while significant transactions included the sale of AMC Victoria Gardens 12 for $40.8 million and lease activity from retailers including Ross Dress for Less and Walmart Depot.
This is a quarterly data report published by CBRE on March 31, 2026 presenting office sector figures for the Inland Empire region in California for the first quarter of 2026.
This is a market report published by JLL in March 2026 covering office sector dynamics in Silicon Valley during the first quarter of 2026. The report covers geographic areas including San Jose, San Francisco, California, and national markets.
This is a data-figures report published by CBRE on March 31, 2026, presenting industrial sector figures for San Antonio, Texas for the first quarter of 2026.
This is a quarterly market report on the Sacramento office sector published by Colliers in the first quarter of 2026. The report covers office market conditions in Sacramento, California.
This is a first-quarter 2026 office market data and figures report for Orlando, Florida published by CBRE on March 31, 2026.
This document is a landing page for Cushman & Wakefield's Silicon Valley MarketBeat reports covering Q1 2026 across office, industrial, retail, and R&D property sectors. The page presents first-quarter 2026 vacancy rates: office at 18.8%, industrial at 6.4%, retail at 4.9%, and R&D at 13.0%, along with links to detailed reports on each sector and related Bay Area life sciences and investment market data.
San Antonio's retail market maintained a 4.2% vacancy rate in Q1 2026, with positive net absorption of 337,549 square feet (down 14.8% quarterly but up 15.5% annually) and average rental rates of $19.45 per square foot NNN (up 0.4% quarterly but down 3.5% year-over-year). Leasing activity totaled 556,633 square feet, deliveries reached 390,389 square feet, and investment sales volume declined sharply to $244 million over the trailing twelve months with an average cap rate of 7.2%.
This is a first-quarter 2026 industrial sector data report covering the Inland Empire region of California, published by CBRE.
Silicon Valley's industrial market in first quarter 2026 experienced total leasing activity of 2.0 million square feet, down 7.6% quarter-over-quarter and 9.9% year-over-year but remaining 12.1% above its five-year average, with industrial vacancy rising to 7.4% due to new deliveries including 174.7K SF in Sunnyvale and negative net absorption of 524.2K SF. The region's economy outperformed national trends, with the San Jose–Sunnyvale–Santa Clara MSA unemployment rate falling to 4.0% in January 2026 and nonfarm payroll employment growing 0.7% year-over-year, while industrial-using sectors led growth with Mining and Construction expanding 6.0% and warehouse leasing accounting for 57.2% of total activity anchored by a 267.1K SF Tesla Motors lease in Fremont.
Kidder Mathews' first-quarter 2026 Orange County industrial market report documents a direct vacancy rate of 5.7%, average asking rent of $1.46 per square foot on an NNN basis, net absorption of 58,051 square feet, leasing activity of 1.57 million square feet, and new deliveries of 435,000 square feet, reflecting signs of recovery after two years of occupancy declines. The report forecasts gradual market rebalancing through 2026 as development activity declines and available space is absorbed, with asking rents expected to stabilize and then slowly decline as vacant spaces are leased.
Silicon Valley's industrial market in first quarter 2026 shows divergent trends between industrial and warehouse segments, with industrial direct vacancy falling 60 basis points to 4.3% while warehouse vacancy rose 60 basis points to 5.6%, the highest in over three years. Asking lease rates for industrial properties declined 5.8% year-over-year to $1.80 per square foot, while warehouse rates rose 0.6% to $1.57, with both remaining above five-year averages; industrial leasing activity increased 4.3% year-to-date, but warehouse leasing declined 57.0%, reflecting uneven recovery concentrated in advanced manufacturing and technology-adjacent users rather than broad-based demand.
San Antonio's industrial market in Q1 2026 showed modest recovery with leasing activity totaling 571,000 square feet (a 31% year-over-year increase) and positive net absorption of 668,000 square feet, though new construction deliveries fell 81.6% to just under 463,000 square feet due to higher interest rates and tighter financing conditions. Overall vacancy increased to 11.3% and total inventory grew to 140.5 million square feet, while asking rents edged higher to $8.70 per square foot despite softer demand, with warehouse and distribution rents averaging $8.08 psf and office service/flex rents outperforming at $12.81 psf.