Nashville’s economic boom has caught the eye of many large businesses such as Amazon and Oracle. Due to the rising job market and low cost of living in Nashville, it has caused large corporations to relocate to a more favorable tax and cost-of-living environment. Additional cap gains and income tax hikes are likely to further accelerate this trend.
The influx of so many high paying jobs has huge ripple effects in the economic infrastructure, creating a boom in service businesses, construction and the entire “support economy”. The result is more demand for industrial / distribution space, which is in increasingly tight supply.
CA South is addressing the extreme shortage for small format industrial product, specifically for individual warehouse users between 3,000 sq. ft. and 50,000 sq. ft., by building over 500,000 SF of spec industrial product in Hendersonville, Mt Juliet (Lebanon) and Madison TN — all submarkets of the Nashville MSA.
While other developers in Nashville pursue larger credit tenants in a traditional build to suit or pre-lease format, CA South has focused on in-fill locations that are a shorter and more convenient commute into the urban core – often part of the “last mile” solution catering to non-credit and more mom-and-pop businesses with albeit still strong financials.
One of CA South’s Industrial properties with on Myatt Drive is near downtown Nashville and just blocks away from Amazon’s new last time distribution center. Amazon signed a 115,000 sq. ft. lease for its build-to-suit on Myatt Drive, with an anticipation date in Q3 2021.1
This location is ideal for smaller distribution and service-related tenants looking for excellent access to the interstate highway network and close proximity to the Nashville Central Business District.
To keep up with CA South’s help with Nashville’s demanding Industrial Market, visit casouthdevelopment.com and sign up for our newsletter for quarterly updates or contact Ben Mosley at Cushman Wakefield for leasing information.