From quarter two to quarter three of 2019, industrial vacancies have decreased from 4.8% to 4.1%. Nashville’s vacancy rates are holding at a near record low and are continually decreasing. With the rise of e-commerce and online shopping in the US, industrial products like warehouses and logistics centers are becoming more and more crucial for product distribution.
Q3 2018 had a bright start with Nashville’s famous Fourth of July festivities, including free concerts downtown and a phenomenal fireworks show accompanied by the music of the Nashville Symphony. The later half of the quarter saw the return of a large portion of Music City’s college population as nationally acclaimed universities, Belmont University and Vanderbilt University, started their fall semester.
Q3 2018 was a great time to be in Nashville. Beyoncé and Jay-Z, Keith Urban, and Taylor Swift all performed concerts in Music City in just one week at the end of August. Pilgrimage Music Festival fans, including some of our team members, got rained out… but that didn’t stop anyone from enjoying the weekend. As rain continues to persist into mid-November, be sure to keep a list of rainy day activities in Nashville on hand.
The third quarter, 2018 was epic in Nashville. NoBaked Cookie Dough launched their Germantown location. Bourbon Steak opened on the 34th floor of the newly opened JW Marriott at 201 8th Avenue South. Finally, Luke Bryan fulfilled his dream of opening a bar in Downtown Nashville with Luke’s 32 Bridge Food + Drink. Located at 301 Broadway, his new concept occupies 30,000 feet on six-stories featuring six bars, four stages, and two restaurants.
Q2, 2018 saw a lot of change and growth for the nation and Nashville. Starbucks made a commitment to completely eliminate the use of plastic straws in their locations by 2020. Here at home, Cushman & Wakefield brokered the Regions/WeWork deal, leading to the building’s closing for $139.5 million in the fall of 2018.
The second quarter, 2018, saw some exciting moments. Incredibles 2 was released -- 14 years after the original. The Rare Bird rooftop bar saw its opening week, located atop the Noelle Hotel on 4th and Church St. The Big Band Dance in Centennial Park saw another phenomenal season, made possible by local bands and dance instructors.
Quarter 2, 2018, was a great season for the country and Nashville. Nationally, Dropbox -- the sensational online file-sharing company -- soared after it’s first ever public earnings report after its IPO in Q1 2018. At home in Nashville, Char Restaurant was declared the hottest restaurant opened in the last seven months in Music City.
The second quarter, 2018, was a season of great excitement across the USA and here in Nashville. The summer wedding season was kicked off as the nation watched on in support of the Royal Wedding between the UK’s Prince Harry and his now wife, Meghan Markle. In the final weeks of the quarter, offices across the US took lunch in the conference room in order to watch and cheer for the 2018 FIFA World Cup. At home in Music City, we enjoyed the opening of the Five Points Pizza on Charlotte, Bonnaroo Music Festival, and the opening of the newest bar in East Nashville -- Walden.
Nationally, we’re experiencing strong consumption, despite sluggish income growth. After all, it’s much easier to consume products nowadays thanks to Amazon and online retail.