Local Update: Retail, Development, Industrial

Over the weekend, a series of articles came out that discussed the retail, development and industrial sectors of Nashville commercial real estate. Links to, and highlights from the articles are listed below.

Retail

The GlobeSt.com interview with David Baker, principal of Nashville X Team partner firm Baker Storey McDonald, “Retail Guru Discusses Nashville Market Outlooks” talks about the past, present and future of retail.

  • Nashville Q3 2010 retail vacancy rate was 7.49%
  • Fast-growing “quick serve restaurant industry”
  • Industries that make Nashville an attractive market: healthcare, automotive, tourism, higher education and pro sports

Development

The Tennessean’s assessment of development opportunties pits metro against suburb communities, “Nashville region poised to attract more development, relocations.”

Comments from multiple public officials, including Metro Mayor Karl Dean, Nashville and Rutherford County chamber representatives, county and city economic development directors.

  • In the last six years, 90% of “big relocations” have gone to suburban sites
  • Nashville development opportunities include Buchanan Point and Seven Springs
  • Continued development expected in Williamson, Rutherford, Sumner and Wilson counties
  • Weighs in on the fairground debate

Industrial

Tennessean Q&A with Whitfield Hamilton, regional director of Panattoni Development Co., “Calif. partnership feeds local real estate buys” talks broadly about CRE in southeast states.

  • CalSTRS joint venture with Panattoni
  • Historically, 60% of Panattoni’s holdings are in industrial and warehouse space
  • For the Nashville market, Whitfield sees “a lot of automotive-related deals continuing to come”
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