NASHVILLE, Tenn. (WKRN) – As the cost of living rises in Nashville, so is the cost of renting an office space.
CBRE’s annual Tech-30 report, shows Nashville is now the No. 2 city for rising office rent in the country.
The big reason for the increase, according to the report, is the tech sector as Nashville experience double-digit growth in the industry.
The study examined 30 different markets and it showed tenants in downtown Nashville pay a premium of four percent compared to the broader market.
The vice president of CBRE said Nashville’s tech scene has been on the rise for quite some time, and so is the demand for office space.
Other than downtown Nashville, Wedgewood Houston is also a booming area for business.
The only other market with a higher jump was Orange County, California.