Most listings are in the $10's per square foot per year. The Downtown Memphis region is going through a a boost in rates. In the last 3 months, the median rate increased $16 per sqft per year.
Compared to the rest of the Memphis market, the Downtown Memphis submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 37 listings have been listed, which means leases might be going fast. You'll want to be prepared to make an offer immediately. About 5% of the office spaces in the Downtown Memphis are subleases, so you will probably have to consider a longer term lease. 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 100,280 sqft, there are still 0 leases 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 market. 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.