Amazon is making big moves in Nashville

Amazon is making big moves in Nashville. Is CRE turning a corner?

A few years ago, I became deeply suspicious of the real estate landscape in Nashville. Interest rates were rising and companies were pulling back on their investments. Amazon, which had committed to Nashville a few years prior, literally stopped building out an office tower.

Can you imagine building a $100M office tower, and just not finishing it?

It became obvious that something was majorly wrong.

Since then, we've seen full on crashes in Multifamily and Office

However, two years after announcing they had paused their plans to finish their second tower, they are now leasing up space while they invest in finishing the tower. It looks to me like we could see 2,500-3,000 more jobs downtown. A good chunk of this is Return to Office, but it still shows a commitment to Nashville and there are hundreds of Full-Time job postings from Amazon. Pretty wild.

Press Release