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As you fly in and out of Memphis you will see the abundance of large box distribution facilities, corporate campuses and manufacturing facilities. The Memphis real estate market consists of over 160 million square feet of industrial/distribution space at rates that are consistently some of the lowest in the nation. No matter what your need, Memphis has the infrastructure and real estate to meet it.

Did you know:

• With quoted rates of $2.73 and $2.56 per square foot, Memphis has the lowest rates for industrial rentals and warehouse rentals, respectively.
• Memphis ranked 10th nationally in warehouse absorption with 5.9 million square feet, and 7th in new warehouse construction with nearly 4 million square feet under construction in 2005.
• At the end of 2005, Memphis is still 2nd in the nation in inventory growth.
• Memphis had a 14% increase in square feet inventory growth over the last five years.
• Memphis leads the nation in existing and new construction of big-box industrial buildings.
• Almost 6 million square feet of new product was delivered in 2005 with approximately 3.8 million scheduled for delivery in the first half of 2006.

Search for Available Buildings & Sites

Memphis offers abundant real estate in every category. To search for available properties: click here .

If you would like the Memphis Regional Chamber to perform a customized real estate search for you: click here.

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Pidgeon Industrial Park / Intermodal Gateway Memphis

Find out more about one of the the finest urban industrial parks in the country. With 2,300 acre of available industrial and distribution land, Pidgeon Industrial Park is home to Intermodal Gateway Memphis, an intermodal rail/port/truck facility with access to the world.

Pidgeon Industrial Park / Gateway Memphis offers:

• Access to every major North American market as well as major ports worldwide
• Access to all modes of transportation: 5 Class I railroads, a new still water harbor, minutes from I-55 and I-40, and Memphis International Airport
• Access to robust, in-place utilities

Find out more about Pidgeon Industrial Park: visit the web site | download the brochure
Find out more about Intermodal Gateway Memphis: visit the web site

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World-class Laboratory and Office Space

At the heart of the University of Tennessee medical school campus in Memphis lies the UT-Baptist Research Park. This state-of-the-art campus, in the heart of the Memphis medical community, is designed for the highly specialized needs of bio and life science companies. For more information visit UTBAPTISTRESEARCHPARK.COM.

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Find Out More

Memphis consistently ranks among the US's best real estate markets for companies looking to expand or relocate. Expansion Management magazine, for example, selected Memphis as one of the "Top 40 Real Estate Markets" for expanding or relocating businesses. Memphis ranked #7 out of 40 based on the criteria such as rental costs, purchase prices, and vacancy rates of office and warehouse space. (SOURCE: Expansion Management, August 2005)

Memphis Metro Industrial Real Estate Market Overview

Lowest industrial & warehouse lease rates of major U.S. cities
▶▶ Memphis lease rates are 25-65% lower than comparable space in cities like Charlotte, Indianapolis, Houston, and Phoenix.

Abundance of distribution, warehousing & logistics facilities
▶▶ More than 150 million square feet of warehouse space with an average size for current construction of approximately 500,000 square feet (over 11 acres) per building.

industrial real estate market comparison
real estate market	total inventory	available (sf)	vacancy	quoted rates
Memphis	156,538,181	24,796,244	15.8%	$2.73
Charlotte	209,401,271	23,791,118	11.4%	$4.06
Indianapolis	255,695,338	25,547,647	10.0%	$4.06
Houston	435,187,693	31,234,132	7.2%	$5.24
Raleigh/Durham	58,368,732	6,906,219	11.8%	$6.46
Phoenix	250,378,807	22,402,283	8.9%	$8.06
Miami-Dade County	220,667,870	10,122,561	4.6%	$8.10
National Totals & Avg	13,120,941,829	1,149,345,550	8.8%	$6.10
Source: CoStar Group National Industrial Market Report, 1st Quarter 2007

warehouse market comparison
real estate market	total inventory	available (sf)	vacancy	quoted rates
Memphis	149,190,742	23,216,954	15.6%	$2.56
Charlotte	182,025,969	20,265,410	11.1%	$3.50
Indianapolis	234,123,021	22,304,121	9.5%	$3.67
Houston	398,959,872	25,346,208	6.4%	$4.77
Raleigh/Durham	38,748,277	3,796,205	9.8%	$4.69
Phoenix	221,055,038	14,785,492	8.0%	$7.24
Miami-Dade County	200,594,093	8,621,699	4.3%	$7.67
National Totals & Avg	11,562,285,510	947,672,270	8.2%	$5.29
Source: CoStar Group National Industrial Market Report, 1st Quarter 2007

Memphis Metro Office Real Estate Market Overview

Consistently some of the lowest office lease rates of major U.S. cities
▶▶ Memphis lease rates are 10-50% lower than comparable space in cities like Charlotte, Miami, Houston, and Phoenix.
▶▶ First quarter 2007 Memphis lease rates for Class A office space were 30% below the national average for comparable space.

Class A office market comparison
real estate market	total inventory	available (sf)	vacancy	quoted rates
Memphis	9,218,550	976,251	10.6%	$19.90
Charlotte	34,554,802	3,523,934	10.2%	$20.63
Indianapolis	23,217,698	3,143,948	13.5%	$19.09
Houston	94,083,648	11,262,420	12.0%	$23.46
Raleigh/Durham	22,582,063	3,697,657	16.4%	$20.63
Phoenix	38,101,868	4,561,912	12.0%	$27.93
Miami-Dade County	19,641,651	1,645,739	8.4%	$32.86
National Totals & Avg	2,505,013,140	296,934,437	11.9%	$27.94
Source: CoStar Group National Office Market Report, 1st Quarter 2007

total office market comparison
real estate market	total inventory	available (sf)	vacancy	quoted rates
Memphis	34,473,433	5,617,916	16.3%	$16.59
Charlotte	66,173,393	7,210,160	10.9%	$18.60
Indianapolis	71,906,250	9,042,065	12.6%	$16.98
Houston	230,891,786	30,369,614	13.2%	$19.76
Raleigh/Durham	56,902,464	8,265,668	14.5%	$18.39
Phoenix	128,333,101	15,954,541	12.4%	$24.79
Miami-Dade County	83,379,732	6,183,711	7.4%	$28.17
National Totals & Avg	6,428,419,096	738,069,334	11.5%	$23.80
Source: CoStar Group National Office Market Report, 1st Quarter 2007

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By the Numbers

Commercial real estate lease rates comparison
real estate market	class a office	total office	warehouse	total industrial
Memphis	$19.90	$16.59	$2.56	$2.73
Charlotte	$20.63	$18.60	$3.50	$4.06
Indianapolis	$19.09	$16.98	$3.67	$4.06
Houston	$23.46	$19.76	$4.77	$5.24
Raleigh/Durham	$20.63	$18.39	$4.69	$6.46
Phoenix	$27.93	$24.79	$7.24	$8.06
Miami-Dade County	$32.86	$28.17	$7.67	$8.10
National Totals & Avg	$27.94	$23.80	$5.29	$6.10
Source: CoStar Group National Industrial & Office Market Reports, 1st Quarter 2007

 

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