Memphis Office Figures Report Q1 2023

April 13, 2023 3 Minute Read

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  • The Memphis office market recorded 13,744 square feet of positive absorption, marking five consecutive quarters of positive absorption.

  • Rental rates trended upwards in Q1 2023 to $20.76 per square foot, a 290-basis point increase quarter-over-quarter.

  • The Federal Reserve raised interest rates 25 basis points in March, but with inflation slowing down, it could allow the Fed to begin lowering interest rates, bringing greater clarity to commercial real estate markets.