Most listings are in the $10's per square foot per year. The Downtown Memphis submarket is going through a a rise in rates. In the last 3 months, the median rate rose $16 per sqft per year.
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 posted online, which means new availabilities most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 5% of the available leases in the Downtown Memphis 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 100,280 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this area are close to 4 floors. Most buildings in this region were built in 1923 and are Class A.
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 area. Commute by car is the most popular way to get to work amongst Downtown Memphis residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.