Memphis industrial market report

Q1 2023

As fears of a more significant economic downturn grow, there are plenty of signs to indicate that the Memphis industrial market is beginning to come off its pandemic and post-pandemic highs, including an increasing vacancy rate, slowing construction activity, and declining lease and sale transaction volumes.

Direct vacancy rate

The market’s direct vacancy rate increased for the second consecutive quarter following a market low of 5.0% in Q3 2022.

2.1 msf

Direct net absorption

Bolstered by large build-to-suit deliveries, direct net absorption remained positive this quarter.

6.3 msf

Under construction

Following a record breaking two years, construction activity slowed in the first quarter with no new construction starts.

Your source for the latest Memphis industrial market reports

Get in-depth industrial market reports and insights from commercial real estate experts in the Greater Memphis area. Avison Young advisors look at Memphis commercial real estate activities and the latest Memphis statistics to provide you expert market research on Memphis's industrial properties.

Explore different topics like the latest industrial market pricing trends and analysis of Memphis's current industrial real estate market conditions. Gain a better understanding of Memphis’s industrial real estate outlook and stay ahead of current industrial space trends. Make smart decisions when it comes to investing in industrial properties in Memphis's competitive industrial real estate market. Avison Young is your trusted source for commercial real estate industrial market insights in Memphis.

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