Most listings are in the $20's per square foot per year. The Depot Planning District submarket is going through a an increase in rates. In the last 3 months, the median rate increased $20 per sqft per year.
Compared to the rest of the Memphis market, the Depot Planning District submarket has more expensive rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 16 listings have been posted online, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the office spaces in the Depot Planning District are subleases, so you will probably need to consider the implications of signing a direct lease with the building. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 20,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are approximately 1 floors. Most buildings in this market were built in 1972 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Construction is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Depot Planning District occupants. Commuting around an hour and a half a day is the norm for those who opt to reside in this part of town.