On average, listings lease in the $20's per square foot per year. The Memphis region is experiencing a an increase in rates. In the last 3 months, the median rate rose $3 per sqft per year. That's a 13% increase in rent.
Compared to the rest of the Memphis market, the Memphis submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 2079 listings have been posted online, so you'll want to check back regularly for new listings. About 11% of the available space in the Memphis are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,280 sqft. Most buildings in this area are close to 1 stories. Most buildings in this area were built in 1985 and are Class B.
Real time and historical data on commercial real estate listings in Memphis.
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