Brentwood Office Rent Price & Sales Report

2023 Office Space Rent & Sales

  • $31.76 2023 Avg. Asking Rent
  • 10.95% 2023 Office Vacancy Rate
  • $49.8M2023 Total Office Sales
  • $253.45Avg. Sale Price/SF

Brentwood office price per square foot in 2023 was $31.76 on average. The local office market recorded an average vacancy rate of 10.95% across all asset classes combined. The 4 transactions that closed here throughout 2023 amounted to a total sale volume of $49.8M. Brentwood office space commanded an average sale price per square foot of $253.45.

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

Average Rent by Office Class

2023 Average Office Rent per Square Foot

  • Brentwood Class A & A+ Office Space$32.75
  • Brentwood Class B Office Space$30.10
  • Tennessee Class A & A+ Office Space$31.18
  • Tennessee Class B Office Space$22.11
  • Tennessee Class C Office Space$26.18

Brentwood, TN Office Asking Rents by Class

2023 Office Vacancy Rates in Brentwood

Submarket Asking Rents Vacancy Rates
Green Hills - Sylvan Park $34.10 21.30%
Far South Nashville $32.33 17.13%
Franklin $32.31 23.17%
Brentwood $31.53 10.89%
Data provided by Commercial Edge
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Brentwood market was 10.95% in 2023. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Brentwood was 10.89% in the Brentwood submarket, while the highest office vacancy in the market was 23.17%, recorded in Franklin.

Office Spaces for Rent in Tennessee

Brentwood Office Sale Price per SF

  • $253.452023 Avg. Price per SF
  • 16.03%Y-o-Y Avg. PpSF Change
  • $49.8M2023 Office Sales Volume
  • 42023 Number of Transactions

Brentwood, TN Sale Price per SF Trend

  • Brentwood Avg. Sale Price per SF in 2023$253.45
  • Tennessee Avg. Sale Price per SF in 2023$168.53
Brentwood office space cost in 2023 marked a +16.03% change compared to the previous year. The sale price for office space in Brentwood averaged $253.45 per square foot in 2023, across all market subdivisions and asset classes. Conversely, the statewide Tennessee average office sale price during the same time period was $168.53 per square foot.

2023 Office Sales Volume

  • Brentwood, TN Total Office Sales Volume in 2023 $49.8M
  • Brentwood, TN Total Number of Office Sales Closed in 2023 4
A total of 4 deals closed on the Brentwood office market in 2023, adding up to a yearly sales volume of $49.8M. Notably, the largest transaction on the market saw Dimension at Mallory Park - 1569 Mallory Lane change hands for $19,800,000 on 5/5/2023.
Data provided by Commercial Edge

Coworking Spaces in Tennessee

2023 Office Construction in Brentwood, TN

Largest Office Properties Recently Completed in Brentwood
Office building Address SF Completed
Brentwood Commons IV 120 Brentwood Commons Way, 37027 119,500 2020
Tristar Health Park 1001 Health Park Drive, 37027 119,000 2020
Seven Springs II 310 Seven Springs Way, 37067 130,000 2017
Hill Center Brentwood Building A 211 Franklin Rd # A, 37027 60,012 2017
Creekside Crossing IV 12 Cadillac Drive, 37207 126,697 2006
Creekside Crossing III 8 Cadillac Drive, 37207 125,186 2005
Moores Crossing III - Office 93 Seaboard Ln., 37067 24,000 2005
Seven Springs I 320 Seven Springs Way, 37027 129,987 2001
Maryland Farms Office Park - Virginia Way Plaza 5141 Virginia Way, 37027 77,200 2001
Hickory Trace 104 Continental Place, 37027 54,898 2001

Worth noting among recent office completions on the Brentwood market is Brentwood Commons IV, which is currently the largest new office development in the city, at 119,500 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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, a market intelligence solution which offers comprehensive real market knowledge on all Brentwood 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.