Nashville experiences spike in commercial sales

Nashville commercial sales increased during the second quarter.

Nashville property management companies experienced an increased investment in the commercial market during the second quarter, according to a report from Chas. Hawkins Co./CORFAC International.

Davidson County experienced 102 transactions during the quarter for a total of $179 million. This was the highest figure reported in a second quarter in six years, the Nashville Business Journal explained, citing the report. A dollar volume gain of close to 220 percent in the second quarter was achieved when compared to the same three months last year. Additionally, overall transaction volume was 50 percent higher than the second quarter of 2011.

"I can confidently state that I feel better today about the direction of the commercial real estate market than I did at this same point last year," R. Stephen Prather, vice president of Chas. Hawkins Co./CORFAC International, told the news source.

Prather added that the dollar volume and transaction levels were still far off from the levels experienced in 2006, but that this gap has closed considerably. Dollar volume was 23 percent higher at that point, while transactions were nearly 60 percent higher.

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