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.