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GENERAL MARKET UPDATE
While a market overview was not specifically requested by the City of Chattanooga within the RFP, Wilson Steele believes it is an important factor for the City’s decision making to align with a firm which hold a broad understand of the market. Wilson Steele maintains an active and keen eye on overall market fundamentals and will act in the capacity of advisor to the City on matters related to commercial
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Inventory SF
65.8M
Market Rent/SF
$7.87 Under Construction SF 424K
Annual Rent Growth
11.2% Vacancy Rate
3.2% 12 Mo Sales Vol $193M
INDUSTRIAL RENT GROWTH – CHATTANOOGA
Chattanooga Industrial a step behind the rest of the country. Rents posted an average annual increase of 5.9%, below the national average of 6.4% over the same timeframe.
Rents have grown an impressive 11.2% in the past 12 months, a considerable amount, but below the annualized growth record of 12.6% set within the past three years. In the past 10 years, Chattanooga has been a step behind the rest of the country. Rents posted an average annual increase of 5.9%, below the national average of 6.4% over the same timeframe.
