Archive for the ‘Memphis commercial mover’ Category
An office space in Cordova will transform into a call center that will provide 1000 jobs for local residents. The company leasing the building has not been revealed at this time, but the undisclosed company will lease some space in the 125,000-square-foot office building at 7000 Goodlett Farms, according to sources with knowledge of the announcement. The Cordova commercial movers have found that the rental rate for the building is $19.25 per square foot.
The employment opportunity for the Cordova area is exciting and will help tick away at the 1.97 percent unemployment rate that the area faces. We’re anxious to learn about the leasing company as it will help determine what candidates are right for the field based on industry.
Downtown Memphis hotel the Chisca has been under a redevelopment phase, something that may seem confusing to locals who have not noticed much of anything happening there. As we go into 2014, that will abruptly change, as the 300,000 square foot property is undergoing a $3 million makeover that will improve and update the existing hotel. The Memphis local movers have learned that the project is planned to last 18 months.
The building will get cleaned up and also see the transition of the dated hotel getting a second chance as downtown residential space, as 159 apartment units are part of the renovation, along with a parking garage later down the road.
As we wrap up 2013 and take a look at real estate trends in the area, one thing is certain: the office space sector of the local real estate market not only began to show signs of life this year, but the vacancy rate for Class A space has dropped to 7.7 percent from 2010′s 20 percent. The Memphis commercial movers have found that this trend it thanks to company expansion announcements and other business happenings that have prompted office space to be snatched up in record time.
On top of more company announcements, the amount of space that companies are leasing is higher, taking away from the vacancy rate square footage and helping to strengthen the absorption rate. Also, the demand and lack of remaining supply has strengthened the rental rates for landlords.
According to a new report by Kiplinger’s, Memphis is ranked number 7 among other big cities like Dallas, Texas and Las Vegas, Nevada throughout the nation as ideal places for renters to live well. The average rent in Memphis is about $711, which is quite affordable compared to other nationwide markets. This is arguably quite affordable for being a big city like Memphis. These rental rates are averaged out by homes and apartments in the area. Memphis is an area with a diverse population and cultural activities, and it is also a thriving business scene.
The Memphis local movers have found that the livability in Memphis is certainly desirable for both families and individuals and it is incredibly affordable if you are looking to rent a home or an apartment in the Memphis metro area. Memphis is touted as a big city without big city prices, and the cost of living is 15.3 percent below the national average. Also, the living experience in Memphis is a great one, and commuters spend about 23 minutes in the car, which is 6 percent below the national average.
Well known BBQ giant Tops Bar-B-Q Inc is setting up a new location in East Memphis, marking the 15th retail store for the brand. The new store will be located at 5144 Poplar Avenue, and the space has signed a 20 year lease on a yet-to-be-built 2,772 square foot restaurant space. The general manager for the company says he feels the new location will be the brand’s strongest, and current traffic has an estimated 33,000 automobiles passing by the pending location daily. Strong traffic patterns can certainly have a strong role in making the east Memphis location strong.
The Cordova local movers have learned that the company was attracted to the area because of the large population of nearby offices, residential properties, and other big bin retailers like Home Depot and Kroger.
The actual site was a struggle to plan with, but the final blueprints for the store show that there will be room for a drive thru and a parking lot with 16 spaces. The contractor who built the last three Tops locations will be in charge of this project’s construction as well.
The commercial real estate market in Memphis isn’t that easy to read, according to the market data gathered that shows a mixed picture in our metro. For example, office space has a dramatic and significant negative absorption of 173,425 square feet (thanks in part to the moving of Pinnacle Airlines out of their downtown office), but on the flip side, retail real estate showed a growing positive absorption. In fact, the current retail vacancy rate for the area is the lowest level it has been since the fourth quarter of 2009.
The Memphis commercial movers have examined a little further to check into the industrial market. With Technicolor moving out, there was a loss in absorption to the tune of 580,131 from that company alone. However, there are bulk distribution users who are soliciting proposals throughout the market, leading industry professionals to believe that 2013 will end on a strong note.
On a whole, the Memphis metro is seeing activity comparable to the sales and rental rates of 2007. The mid-South is predicted to get stronger in terms of real estate prices and development, and the strengthening of Memphis commercial real estate would be undeniably beneficial for the city.
The Memphis industrial real estate market is posting positive numbers, according to a recent report by the Memphis Daily News. The industrial market in the area has recorded net absorption of 951,683 square feet during the first three months of 2013, making it the 4th consecutive quarter or positive absorption for the metro area. The report pulled data from the CBRE which charts the industrial market statistics.
The Memphis industrial movers have found that the vacancy rate for industrial space in the area is dwindling, and the industrial vacancy rate has actually dipped below 11.5 percent early this year. The demand for industrial space is strong, but the debate now is whether there needs to be added supply or if it is best to wait.
Home sales in Tennessee’s Shelby County jumped 15 percent from May 2012 to May 2013, according to reports from a real estate reporting and information company, Chandler Reports. The Memphis housing market has become a pretty good and stable place, with total sales volume up to $197 million in May 2013, up from $171 milli0n in May 2012.
The Memphis local movers have found that the average sales price was up 9 percent from May 2012 prices, and the highest sales for the area were in the Cordova North area of the county, followed by Cordova South and then Collierville. Collierville, however, ranked as the top area for total sales. Existing home sales increased five percent, while the overall trend shows that prices are rising consistently in month over month comparison.
The market for investment real estate is alive and well in Memphis, where flipping houses is a profitable and manageable form of income. Year by year, Memphis has experienced a 14.5% decline in total listings, so the cost to invest in Memphis is steadily increasing, and the Memphis commercial movers have found that it is also an ideal time to move quickly and purchase properties to ensure the best deals.
New construction in Memphis saw a 34% increase, so new homes will be hitting the market and its a great time to buy the older ones and renovate them to modern design aesthetic.
Interest rates are beginning to creep up again, out of the historic lows that we have seen for months and months on end. If you are debating a purchase in Memphis either for investment or for your family home, now is the time to snatch up existing properties!
Home sales in the Memphis metro area have risen in May by 6.3 percent from April 2013, and at a rate of 1.6 percent from May 2012. The Memphis Area Association of Realtors has shared data which indicates that the total sales for early 2013 are higher than 2012, leading the average sales price to also gain momentum. Reports say that the average sales price rose 10.6 percent between April 2012 and April 2013, with the new average sales price coming in at just under $140,000.
The Memphis local movers have found that inventory is flat with about 6,400 properties for sale, and sales volume increased 18.9 percent to $825.6 million. The local industry insiders have shared that the Memphis market is in a good place and should continue to strengthen and grow. Summer should prove to be even more fruitful for the area.