Aspen Grove — Sale in Franklin, TN
- Price: $179K
- Listing type: For sale
- Asset type: Office
- Location: Franklin, TN
- Size: 207,591 SF
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Description
Jones Lang LaSalle (JLL), as exclusive advisor, presents the opportunity to acquire Aspen Grove, a two-building, Class A office campus totaling 207,591 SF in Nashville’s premier Cool Springs submarket. Currently 66% occupied with a 5.2-year weighted average lease term, this value-add institutional asset offers a rare combination of durable in-place income, immediate lease-up upside, and long-term development optionality. The campus comprises Aspen Grove I (85,929 SF, built 1999) and Aspen Grove II (121,662 SF, built 2006), situated on 18 acres with direct access to Nashville’s most visited retail node, drawing 32.1 million annual visitors. The Asset sits within the “McEwen Halo,” a proven institutional investment corridor commanding premium rents on the strength of its amenity base, affluent demographics ($179,362 average household income), and dense daytime population (156,063 within five miles). Recent leasing activity underscores the near-term value creation story. Tenants signed approximately 69,000 SF of leases — 33% of GLA — over the past 18 months, achieving a new high-water mark rental rate of $36.00 FSG. In addition, the Cool Springs Submarket recorded more than 234,000 SF of positive absorption YTD in 2026, and comparable assets in the McEwen Halo are achieving rental rates of $42.00–$54.00 FSG, creating substantial mark-to-market upside at Aspen Grove as leases roll through 2031. Beyond lease-up of existing vacancy through additional spec suites, the 18-acre site offers a potential “covered land” opportunity to unlock future value. These dynamics position Aspen Grove as an institutionally maintained asset with a clear path to outsized returns in one of Nashville’s premier suburban submarkets.
Market Context
This office in Franklin, TN is listed for sale at $179,362 across 207,591 SF. Compare it against other office listings for sale in Franklin, TN — view the full market.
As of Q1 2026, the Nashville office market showed a 16.6% vacancy rate, and average asking rents near $37.95/SF/yr. Source: multiple brokerage reports, Q1 2026.
Above-average vacancy gives buyers leverage and a wide set of comparables.
Office market FAQ
- Is the Nashville office market tightening or softening?
- Vacancy is around 16.6% (Q1 2026).
Contact
- Richard Reid · 6789842101 · r.reid@jll.com
- Mike McDonald · 2147775101 · mike.mcdonald@jll.com
- Ryan Clutter · 7045262805 · ryan.clutter@jll.com
- Huston Green · 4044601646 · huston.green@jll.com
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