Most listings are in the $10's per square foot per year. The Downtown Memphis region is experiencing a a boost in rates. In the last 3 months, the median rate increased $2 per sqft per year. That's a 13% increase in rent.
Compared to the rest of the Memphis market, the Downtown Memphis submarket has lower rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 37 listings have been made available, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 68% of the available space in the Downtown Memphis are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 4,530 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are approximately 4 floors. Most buildings in this market were built in 1923 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this region. Commute by car is the most popular way to get to work amongst Downtown Memphis occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.