Memphis Office Figures Report Q4 2023

January 31, 2024 3 Minute Read

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  • The Memphis office market recorded 54,673 square feet of positive absorption in Q4 2023, pushing year-to-date absorption to negative 34,420 square feet.
  • Class A's average asking rental rate increased to $23.16 per square foot, a 4.3% increase quarter-over-quarter.
  • The Federal Reserve is likely finished with its tightening cycle, allowing a clearer path for real estate capital markets to unfold in 2024.