Franklin Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $33.64 2024 Avg. Asking Rent
  • 3.02% Y-o-Y Avg. Asking Rent Change
  • 23.45% 2024 Office Vacancy Rate
  • $111M2024 Total Office Sales
  • $278.07Avg. Sale Price/SF

Franklin office price per square foot in 2024 was $33.64 on average. This marked a +3.02% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 23.45% across all asset classes combined. The 3 transactions that closed here throughout 2024 amounted to a total sale volume of $111M. Franklin office space commanded an average sale price per square foot of $278.07.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Franklin Class A & A+ Office Space$33.98
  • Franklin Class B Office Space$30.41
  • Tennessee Class A & A+ Office Space$30.18
  • Tennessee Class B Office Space$23.45
  • Tennessee Class C Office Space$17.82

Franklin, TN Office Asking Rents by Class

Office Spaces for Rent in Tennessee

Franklin Office Sale Price per SF

  • $278.072024 Avg. Price per SF
  • 4.18%Y-o-Y Avg. PpSF Change
  • $111M2024 Office Sales Volume
  • 32024 Number of Transactions

Franklin, TN Sale Price per SF Trend

  • Franklin Avg. Sale Price per SF in 2024$278.07
  • Tennessee Avg. Sale Price per SF in 2024$129.51
Franklin office space cost in 2024 marked a +4.18% change compared to the previous year. The sale price for office space in Franklin averaged $278.07 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide Tennessee average office sale price during the same time period was $129.51 per square foot.

2024 Office Sales Volume

  • Franklin, TN Total Office Sales Volume in 2024 $111M
  • Franklin, TN Total Number of Office Sales Closed in 2024 3
A total of 3 deals closed on the Franklin office market in 2024, adding up to a yearly sales volume of $111M. Notably, the largest transaction on the market saw Mallory Green change hands for $49,500,000 on 12/5/2024.
Data provided by Commercial Edge

Coworking Spaces in Tennessee

2024 Office Construction in Franklin, TN

  • Franklin, TN Total SF completed in 2024 170,000
  • Franklin, TN Total SF under construction in 2025 251,547

During 2024, 170,000 square feet of new office space were delivered across the market. At the close of 2024, the Franklin office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 170,000 square feet of office space. Looking forward, development activity throughout 2025 is estimated to add 251,547 square feet of office space to the market, before year-end.

Largest Office Properties Recently Completed in Franklin
Office building Address SF Completed
McEwen Northside - 4020 Aspen Grove Drive 4020 Aspen Grove Drive, 37067 284,447 2025
Liberty Station 1201 Liberty Pkwy, 37067 39,928 2020
Mallory Green 3401 Mallory Lane, 37064 178,638 2018
One Franklin Park 6100 Tower Cir., 37067 272,720 2014
Highwoods Office Park - Cool Springs V - Healthways 701 Cool Springs Blvd, 37067 263,598 2008
455 Duke Drive 455 Duke Drive, 37067 180,147 2008
Bowers Park II 6550 Carothers Pkwy, 37067 163,468 2008
Highwoods Office Park - Cool Springs IV 6840 Carothers Pkwy, 37067 155,829 2008
Bowers Park I 6640 Carothers Pkwy, 37067 163,495 2006
Aspen Grove Medical Plaza 125 Cool Springs Blvd, 37067 50,840 2006

Worth noting among recent office completions on the Franklin market is McEwen Northside - 4020 Aspen Grove Drive, which is currently the largest new office development in the city, at 284,447 square feet.

Data provided by Commercial Edge

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Franklin commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor CommercialEdge can guarantee that the information provided is complete.