Class A vacancy rate falls below 5%

The overall Nashville office vacancy rate ticked up to 9.4 percent in the third quarter, but that was due primarily to Regions leaving what is now the UBS Tower and the state vacating a bunch of space in the L&C Tower. If you are looking for top-shelf Class A space, you don’t have all that many choices these days, say the researchers at the local office of Cassidy Turley. Just 4.7 percent of Class A space now sits vacant, which is down from 5.9 percent at year-end 2012. Overall lease rates rose 8 cents during the quarter to $19.73 and are now up 3.3 percent from the same time last year. Check out the full report here.

On the industrial side, the story is one of steady growth that has pushed the region's vacancy rate more than a point below its historical average. Lease rates are holding steady and the important East and Southeast submarkets have each absorbed more than 1 million square feet of space year to date. All the numbers are available here.