High Demand for Memphis Industrial Leading to Another Record-Shattering Year

Fueled by the acceleration of e-commerce amid the COVID-19 pandemic, the Memphis industrial market’s record-setting momentum continued into the first half of the year. Demand fundamentals are the strongest they’ve ever been, with lease transaction volume at mid-year exceeding 12.2 million square feet for the second year in a row and total market direct net absorption reaching an unprecedented 5.3 million square feet.To put these numbers in perspective, lease transaction volume and …

September 27, 2021Industrial, Market Reports, Mississippi, Southeast, Southeast Market Reports, Tennessee

Memphis is Well-Established for Industrial Owners and Users to Win

Momentum in the local industrial market has been maintained because of Memphis’ world-class infrastructure offering the “four Rs” of transportation: river, road, rail and runway. Thanks to Memphis’ central location, truck freight can reach 65 percent of the nation’s population in 24 hours. The Port of Memphis is the fifth-largest inland port in the United States and an east-west highway spans the width of the country.As home to FedEx Global Headquarters and a UPS hub, Memphis …

September 20, 2021Industrial, Market Reports, Mississippi, Office, Southeast, Southeast Market Reports, Tennessee

Robust Memphis Apartment Demand Continues to Push Rents Across Classes

The Memphis multifamily market has recently captured attention from prospective buyers with some impressive statistics. With 2020 rent growth at 6.6 percent and year-to-date 2021 at 10.5 percent year-over-year, the metropolitan showed resiliency through a turbulent period as peer Sun Belt cities experienced stagnancy and even decreases in rents.This trend has put the metropolitan area on acquisition radars and garnered sales to new-to-market buyers looking to plant a flag in the market. But …

September 15, 2021Affordable Housing, Market Reports, Multifamily, Southeast, Southeast Market Reports, Tennessee

From Urban Core to the Suburbs, the Memphis Retail Market is Poised for Growth

Memphis is a city with a soul and is internationally famous for music, food and entertainment. The city draws over 12 million tourists annually, but less publicized is that Memphis is home to six Fortune 1,000 companies (FedEx, International Paper, AutoZone, Terminix, First Horizon and Sylvamo). Additionally, the city’s employment base includes a robust healthcare community with St. Jude Children’s Research Hospital, the University of Tennessee Medical School and Regional One Health. Plus, …

September 6, 2021Market Reports, Retail, Southeast, Southeast Market Reports, Tennessee

Nashville Retail Market’s Investment Sales, Leasing Activity Defy Pandemic Impact

In spite of national trends, news of spiking default rates and a prediction of a national decline in retail tenancy, the middle Tennessee region appears to be emerging in equal (or better) condition from one of the most unusual years in history.Prior to the government-mandated shutdowns last year, retail activity in Nashville was at a fever pitch. A decade of year-over-year population and economic growth created a strong seller’s and landlord’s market, with no end in sight. The …

April 5, 2021Market Reports, Restaurant, Retail, Southeast, Southeast Market Reports, Tennessee

Multifamily Investors Await Clarity on Nashville’s Economic Recovery

Owners and buyers remain apart on pricing. Unlike some densely populated urban areas where the extent of the damage to local commercial real estate operations is unknown, the gap in Nashville persists due to uncertainty regarding the upside potential rather than downside risks. Owners are hesitant to list properties because the metro remains a safe portion of their portfolios. If this disconnect persists, pricing will return to pre-recession levels before many other areas of the country.In …

March 29, 2021Affordable Housing, Market Reports, Multifamily, Seniors Housing, Southeast, Southeast Market Reports, Student Housing, Tennessee

Nashville’s Office Pipeline Remains Robust to House Relocating, Expanding Firms

In addition to the COVID-19 pandemic in 2020, Nashville weathered tornadoes that traveled through its core in the first quarter and a bomb explosion on 2nd Avenue North in the fourth quarter. Both catastrophes destroyed commercial properties.Despite these events last year, the fundamentals that make Nashville a strong office market remain unchanged. Nashville stays a magnet for corporate relocations, most recently attracting multiple companies from California. According to the Nashville …

March 22, 2021Market Reports, Office, Southeast, Southeast Market Reports, Tennessee

Nashville Shifts in Location, Size to Support its Red-Hot Industrial Market

“When you’re hot, you’re hot.” These old lyrics from Jerry Reed ring loud and clear these days for industrial real estate in Nashville and Middle Tennessee. Over the past five years, Nashville has been on a tear with industrial activity. At the start of 2021, Nashville appears to be pushing the fast forward button, even with COVID-19.There is a growing list of buyers, developers and users looking to enter the Nashville industrial market at unprecedented levels. With that said, can …

March 15, 2021Industrial, Market Reports, Southeast, Southeast Market Reports, Tennessee

Leasing, Development Thrive for Memphis Industrial Market While Sales Slow

The Memphis industrial market was off to another record-setting year for the third straight time. Then, the Mike Tyson punch no one could have ever expected came: the shutdown of the entire country. Even after sheltering in place for months and nonessential businesses out of the office until further notice, our industrial market is holding firm. The Memphis industrial market holds over 285 million square feet of useable space and offers the basic tenets for distribution. Memphis International …

August 24, 2020Industrial, Market Reports, Southeast, Southeast Market Reports, Tennessee

Memphis Office Market Holds Steady Amid Recovery from Pandemic

Amid the uncertainty this year has brought, the Memphis office market’s fundamentals have continued to be stable through the end of the second quarter of 2020. Net absorption posted negative gains, recording 53,389 square feet of negative net absorption this quarter. While occupiers seeking rent relief was of minimal consequence, the steady demand allowed the total vacancy rate to decrease 80 basis points from the first quarter to 14.5 percent in the second quarter of 2020. Office tenants are …

August 17, 2020Market Reports, Office, Southeast, Southeast Market Reports, Tennessee