1Q24 Retail Market Update with Tyler Brock

Key Takeaways:

- Retail occupancy in Nashville is above 97%, showing retail's resiliency despite challenges like the pandemic
- Rents have been increasing, currently averaging around $27 per square foot but higher in areas like East Nashville
- Investment sales of retail properties have been occurring, though development of new retail space remains low at around 1.1% of total inventory
- Mixed-use and smaller footprint retail spaces around 5,000-10,000 square feet have been more attractive to tenants and landlords