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Commercial Real Estate in Memphis, TN - 331 Properties Available

  • 5545 Murray Avenue - Memphis
    5545 Murray Avenue, Eastgate, Memphis, TN 38119
    For Lease $17.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 1,037 Sqft
  • Embassy Office Building - Memphis
    795 Ridge Lake Blvd, River Oaks, Memphis, TN 38120
    For Lease $28.5/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 38,934 Sqft
  • Trustmark Centre - Memphis
    5350 Poplar Avenue, Brennan, Memphis, TN 38119
    For Lease $25/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 7,168 Sqft
  • Thousand Oaks Business Center - 2650 Thousand Oaks Blvd - Memphis
    2650 Thousand Oaks Blvd, Colonial, Memphis, TN 38118
    For Lease $17/Sqft/Year
    Property
    • Office
    Availability
    • 12 Spaces
    • 87,132 Sqft
  • Lynnfield Office Park - Building D - Memphis
    1755 Lynnfield Road, Bal - Moral, Memphis, TN 38119
    For Lease $18/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 2,680 Sqft
  • Goodlett Farms Business Campus - 7171 Goodlett Farms Pkwy - Cordova
    7171 Goodlett Farms Pkwy, Cordova, TN 38016
    For Lease $19.25/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 55,804 Sqft
  • Saint Francis Hospital - Loewenberg Building - Memphis
    6005 Park Avenue, Bal - Moral, Memphis, TN 38119
    For Lease $17 - $20/Sqft/Year
    Property
    • Office
    Availability
    • 3 Spaces
    • 5,731 Sqft
  • 855 Ridge Lake Blvd - Memphis
    855 Ridge Lake Blvd, River Oaks, Memphis, TN 38120
    For Lease $18.75/Sqft/Year
    Property
    • Office
    Availability
    • 6 Spaces
    • 25,248 Sqft
  • 88 Union Center - Memphis
    88 Union Avenue, Downtown Memphis, Memphis, TN 38103
    For Lease $14.5/Sqft/Year
    Property
    • Office
    Availability
    • 8 Spaces
    • 28,072 Sqft
  • Lynnfield Office Park - Building C - Memphis
    1555 Lynnfield Road, Bal - Moral, Memphis, TN 38119
    For Lease $18/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 70,000 Sqft
  • Lenox Office Park - Building E - Memphis
    6775 Lenox Center Court, Hickory Hill, Memphis, TN 38115
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 2,360 Sqft
  • Tower at Peabody Place - Memphis
    100 Peabody Place, Downtown Memphis, Memphis, TN 38103
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 38,400 Sqft
  • Hobson Building - Memphis
    5384 Poplar Avenue, Brennan, Memphis, TN 38119
    For Lease $17.5 - $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 6 Spaces
    • 13,804 Sqft
  • PennMarc Centre - Memphis
    6401 Poplar Avenue, Bal - Moral, Memphis, TN 38119
    For Lease $23/Sqft/Year
    Property
    • Office
    Availability
    • 7 Spaces
    • 24,458 Sqft
  • Goodlett Farms Business Campus - 7000 Goodlett Farms Pkwy - Cordova
    7000 Goodlett Farms Pkwy, Cordova, TN 38016
    For Lease $19.25/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 94,318 Sqft
  • Southwind Office Center - Building B - Memphis
    8275 Tournament Drive, Windyke - Southwind, Memphis, TN 38125
    For Lease $19 - $21/Sqft/Year
    Property
    • Office
    Availability
    • 8 Spaces
    • 20,244 Sqft
  • Southwind Office Center - Building C - Memphis
    8285 Tournament Drive, Windyke - Southwind, Memphis, TN 38125
    For Lease $19 - $21/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 50,726 Sqft
  • 1699-1735 Sycamore View Road - Memphis
    1699 Sycamore View Road, Meadow Brook, Memphis, TN 38134
    For Lease $9.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 63,590 Sqft
  • Poplar Towers - Memphis
    6263 Poplar Avenue, Bal - Moral, Memphis, TN 38119
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 9,000 Sqft
  • Pembroke Square - Memphis
    119 South Main Street, Downtown Memphis, Memphis, TN 38103
    For Lease $14.5 - $15/Sqft/Year
    Property
    • Office
    Availability
    • 9 Spaces
    • 44,094 Sqft
  • Triple Nickel Perkins - Memphis
    555 Perkins Extd, Audubon, Memphis, TN 38117
    For Lease $19/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 1,101 Sqft
  • Kirby Gate Office Building - Memphis
    2900 Kirby Road, Bal - Moral, Memphis, TN 38119
    For Lease $17.5/Sqft/Year
    Property
    • Office
    Availability
    • 3 Spaces
    • 7,958 Sqft
  • Southwind Office Plaza - Memphis
    3101 Players Club Pkwy, Windyke - Southwind, Memphis, TN 38125
    For Lease $14.5/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 24,299 Sqft
  • Primacy I - Memphis
    6077 Primacy Pkwy, Bal - Moral, Memphis, TN 38119
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 15,430 Sqft
  • Shelby Oaks Plaza - Memphis
    5909 Shelby Oaks Drive, Meadow Brook, Memphis, TN 38134
    For Lease $13.5 - $14.5/Sqft/Year
    Property
    • Office
    Availability
    • 24 Spaces
    • 22,647 Sqft

Memphis, TN Economic Overview

Location Photo

Located along the Mississippi River in Tennessee’s Delta commercial real estate market, Memphis is a city full of old-world charm and modern sights. As of 2016, Memphis had a population of 652,717, making it the second-largest city in the state of Tennessee. Known as the Home of the Blues and the Birthplace of Rock ‘n’ Roll, Memphis is full of historical neighborhoods, musical attractions, and enough shops and restaurants for every person and palate.

The city's central geographic location has been strategically advantageous to its business development. Located on the Mississippi River and intersected by five major railroads and two Interstate Highways, the I-40 and the I-55, Memphis is ideally located for the commerce, transportation and shipping industries. Easy access by water was key to its initial development. Railroad construction further strengthened its connection to other markets. The city is home to Memphis International Airport, the world's second-busiest cargo airport (following Hong Kong). With all of this hustle and bustle, it's no wonder that Memphis commercial real estate is so popular.

Memphis, TN Commercial Real Estate Market

The Memphis commercial real estate market was booming at the beginning of 2017, with over 160,000 square feet of leasing activity, most of which consisted of small-size to mid-size leases in the East, 385 Corridor, Airport, and Downtown submarkets. In addition, there are currently two office developments under construction that total 300,000 square feet.

Midtown Memphis

Central Gardens is a historic neighborhood in Midtown Memphis. Filled with homes built in the early 1900’s, this prestigious but diverse area attracts everyone from young families to significant and established individuals. Cooper-Young is another thriving neighborhood in Midtown that is being restored and is quickly attracting new residents. Cooper-Young has some of the most vibrant local restaurants and shopping stores to be found in the city. The rental market in the Midtown neighborhoods is doing well, with only 17% of Midtown Memphis office space currently vacant.

East Memphis

The high-income area of Germantown is just east of Memphis and is one of the most sought-after areas in the Memphis commercial real estate market. This metro area is a popular choice for families looking for excellent public schools, large homes, and a safe, attractive neighborhood to call their own. This booming East Memphis commercial market has over 7 million square feet of rental space, of which only 14% is currently vacant. With an average rate of $27 per square foot per year, this may not be the cheapest place to locate your Memphis office space, but you will definitely be taking advantage of the demand.

Downtown Memphis
Situated on the north side of the island, Harbor Town on Mud Island is a sought-after area for everyone from professional athletes and politicians to young families and retirees. Residents enjoy extraordinary water views and a small community feel with local grocery stores. The Downtown Memphis commercial market is looking promising for 2017, with rentals priced at an average of $19 per square foot per year.

Memphis, TN Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Memphis, TN Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Memphis, TN Commercial Inventory Breakdown

Office Spaces

Total: 28,896,204 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 7,516,170 SF / 26.01% of total office
  • 100k to 500k SF: 16,549,943 SF / 57.27% of total office
  • 500k to 1M SF: 2,730,091 SF / 9.45% of total office
  • > 1M SF: 2,100,000 SF / 7.27% of total office

By class:

  • Class A: 9,543,513 SF / 33.03% of total office
  • Class B: 15,336,482 SF / 53.07% of total office
  • Class C: 1,561,909 SF / 5.41% of total office

Industrial

Total: 2,872,092 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 100k to 500k SF: 829,764 SF / 28.89% of total industrial
  • 500k to 1M SF: 742,328 SF / 25.85% of total industrial
  • > 1M SF: 1,300,000 SF / 45.26% of total industrial

By class:

  • Class C: 235,006 SF / 8.18% of total industrial

Employment in Memphis, TN

Employment

Memphis is known for all of its tourist destinations as well as its rich tradition of entrepreneurship. With many small businesses, as well as multiple large Fortune 500 companies, Memphis has a variety of different job markets and opportunities.

  • FedEx is the largest private employer in Memphis, providing jobs for more than 30,000 people. It was recently ranked 58th on the 2016 Fortune 500, and the headquarters has been based in Memphis since 1973.
  • Jude Children’s Research Hospital is internationally recognized for its revolutionary research and innovative treatments of children with cancer and other life-threatening diseases. The hospital employs more than 3,700 people in the Memphis area. St. Jude is the first and only National Cancer Institute-designated Comprehensive Cancer Center devoted solely to children.
  • AutoZone is another Fortune 500 company located within Memphis, providing positions for 2,300 people in Memphis. The auto supplies distributor is quickly becoming one of the fastest growing chains in the industry.
  • The fourth largest employer in Memphis is International Paper. The global leader has businesses in paper and paper distribution, packaging, and forest products, including building materials. This Fortune 500 company employs nearly 56,000 people worldwide, with close to 2,000 of those being in Memphis alone.

Overall, positions that utilize Memphis office space are on the rise, particularly in the downtown market.

Education in Memphis, TN

The Shelby County School System operates more than 200 elementary, middle, and high schools. The Memphis area is also home to many private, college-prep schools: Briarcrest Christian School, Christian Brothers High School, and the Evangelical Christian School, to name a few. Colleges and universities located in the city include the University of Memphis, University of Memphis Cecil C. Humphreys School of Law, and several other significant universities.

Commuting Time in Memphis, TN

According to the 2015 Urban Mobility Study by the Texas Transportation Institute, Memphis commuters waste fewer hours and less fuel on traffic delays than their counterparts in cities like Atlanta, Austin, Charlotte, Chicago, Denver, and Nashville. The average commute time for residents in Memphis is 24 minutes, far below other metropolitan areas.

Memphis Demographics

Population

  • Total Population654,723
  • Male Population(47.5 %) 311,133
  • Female Population(52.5 %) 343,590
  • Median Age33.70

Income/Financial

  • Average Household Income$58,543
  • Median Household Income$38,230
  • Median Income Under 25$21,695
  • Median Income 25-44$37,471
  • Median Income 45-64$44,918
  • Median Income Over 65$34,824

News

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COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Memphis, TN. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 1037 square feet and 94318 square feet. Discover the right property from our 331 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.