[Updated Oct 2020] A guide to executive suites and office space to rent in Franklin TN as well as general information that may be useful if you are considering renting office space in Franklin TN.
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History & Geography
The city of Franklin is the county seat of Williamson County, Tennessee, and an outlying suburb of Nashville. Franklin is located in the direct centre of the state, just south of Nashville near the Cumberland River. The town is surrounded by low rolling hills and copses of trees. Franklin is one of the oldest communities in the area and was founded on October 26th 1799 by Abram Maury who later went on to become a prominent politician in the area. The town was named after Benjamin Franklin, who was close with the namesake of Williamson County, Dr Hugh Williamson. The first house in the town was built by Ewen Cameron, a Scotsman who emigrated to the US in 1785 and whose descendants still reside in Franklin. After it was founded the town grew in population and in prosperity and became a center of the local agriculture industry. During the US Civil War Franklin was the site of a major battle, the Battle of Franklin, in 1864. The battle was a major defeat for the Confederate forces, effectively destroying the Army of Tennessee as a fighting force. During the battle, Franklin itself became a field hospital for the casualties of the battle of which there were upwards of 10,000. After the Civil War, the town went through the Reconstruction period along with the rest of the South but it was another 100 years before its economy recovered to prewar levels. For decades Franklin was seen as relatively cut off, not only from the country but even from nearby Nashville. However, with the advent of modern transportation methods and communications technology Franklin became more connected and its economy grew. Its proximity to Nashville, the capital of the state and a major economic hub has helped its growth, and today Franklin is a wealthy and culturally rich city.
Economy
Franklin has a diversified and thriving economy and is currently one of the wealthiest towns in the state of Tennessee. Among the largest companies in the town are Magazines.com, Provident Music Group, Verizon and Progeny Marketing Innovations. As in Nashville, healthcare is a major part of the economy, and there are a number of healthcare companies that are based Franklin, such as Community Health Systems, Home Instead Senior Care, Healthways, and AIM Health Services. Additionally, Nissan’s North American headquarters are based in Franklin and the automaker is the fourth largest employer in the town, employing 1,300 people. The largest employer in the town is CoolSprings Galleria, a regional shopping center which employers 3,500 people who live in Franklin. The center has five department stores and more than 165 different stores. The median income for a household in Franklin is USD 75,871 while the median income for a family in the city is USD 91,931. Per capita income for Franklin currently stands at USD 36,445 and the town has an unemployment rate of under five percent. Generally, Franklin is a prosperous town which managed to escape the rigours of the recession with its economy intact.
Tourism & Culture
Franklin doesn’t have a large tourism industry, unlike it’s larger neighbor Nashville, which sees thousands of tourists every year. However, the town does have a few notable events which do bring in some visitors every year and it has a rich cultural scene and storied history. Every year thousands flock to the Main Street Festival, which features two carnivals, two food courts and more than 200 artisans. During the festival, the whole of Main Street, from First to Fifth Avenue is lined with arts and crafts booths as well as food stalls. Another major event is Wine Down Main Street, a wine tasting event which also takes place on Main Street and is a benefit event for the Boys & Girls Club of Franklin County. The other major event in the year is the Pumpkinfest, which is put on by the Heritage Foundation and features food, music and other amusements. Many visitors to Franklin go for a walk around the historic town center, which is centred around 3rd Avenue and Main Street where there is a Civil War monument. There are also many historic homes in the area which are popular with visitors.
Transportation
The nearest airport to Franklin is the Nashville International Airport which is a major hub for Southwest Airlines. Nashville International is the 34th busiest airport in the US and serves almost five million passengers every year. Nashville is also the closest passenger rail hub and to Franklin and in general is a transportation gateway city for the whole region. Franklin itself has a bus service which runs to Nashville and several other suburbs, however, does not possess an advanced public transportation network. For most residents of the city, their car is the main form of transportation and those without a vehicle will generally struggle to get around.
Office space for rent in Franklin TN
Currently, the office market in Franklin has a vacancy rate of approximately 11 percent, lower than the national average. The approximate asking price is USD 19 per square foot. Because of the major companies located in Franklin the town managed to fend off the recession better than some other towns and cities in the region. However, the local office market has suffered as demand has dropped. There are few projects in the pipeline and it is not thought that the amount of available Grade A office space in the town will be added to in the near future.
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