Memphis, TN Office Spaces for Rent
Find your best Memphis, TN office space among 484 for rent listings, which average an asking price of $18.66 per square foot.
Asking prices vary based on the property location, rating, amenities such as proximity to restaurants, cafes, and entertainment venues, as well as convenience of access to public transport, airports, and thoroughfares.
The average rent for office space in Memphis is $18.66 per square foot. The minimum rental rate for office space in Memphis is $13 per square foot. Among listings of office space currently available for lease in Memphis, the maximum rental rate is $25 per square foot.
For more details on Memphis office space rent and sales prices, as well as overall market quality and new construction data, see Memphis Office Market Trends.
Most experts recommend an average of between 75 and 150 square feet of office space per person. However, it is important to keep in mind that how much office space you ultimately need depends on your activity and how you need to use the space, as much as it does on how many people it should accommodate. If you already know what size office would best suit your needs, use the available space size filter at the top of the search page to focus your search on the best fit for you.
However, there is a variety of differently sized opportunities below that maximum. For your consideration, the median size of an office space for lease in Memphis is 2,816 square feet, and the average office space size here is 7,707 square feet.
You can find 484 office listing(s) for lease in Memphis, which add up to a total of 3,518,275 square feet. Availability on the market includes a variety of office use types, such as General Office, Medical Office, Flex - Office, Shared Space.
The most common office use type currently available for lease in Memphis is General Office, which is offered in 421 or 86.27% of listings. The second-most frequent office use type listed here is Medical Office, which account for 12 or 2.46% of office space currently available.
You can search 22 office sublease listing(s) in Memphis, which amount to a total of 221,033 square feet. Sublease opportunities on the market include General Office, Flex - Office, Shared Space. The Memphis neighborhood or submarket with the most sublease listings available is Brennan.
The best choice of neighborhood for your office space will greatly depend on the elements that are most relevant to your business and your employees. However, a good criterion to start with is to look at the areas of the city that have the highest concentration of office properties, as these areas are generally well connected to transit options and have a good degree of amenity availability.
In Memphis, the greatest concentration of office space for lease opportunities is in River Oaks, Whitehaven, Downtown Memphis.
Each individual’s commuting experience will of course be different depending on a number of factors. Check the location description details for the office listings that catch your eye, to get an overview of walkability, access to public transport, the quality of infrastructure dedicated to biking commuters, as well as the proximity to parking facilities, fuel stations, and other essential amenities.
The Memphis office market incorporates a mix of properties of various ages, ratings, construction grades, and other quality indicators. Roughly 41.74% of total office space listings in the city are in properties rated Class A. You will find the highest concentration of Class A office space in the Whitehaven neighborhood of Memphis. Class B office space accounts for 48.35% of spaces listed on the leasing market. The neighborhood with the most Class B office space is Downtown Memphis. Class C office space makes up 5.37% of office space available in Memphis.
Buildings completed in and since the year 2000 account for 16.67% of office properties in the city and incorporate a total of 2,701,250 square feet. About 8.7% of office space in Memphis is in buildings that have been renovated at least once since 2000.
Out of the office space listings currently available in Memphis, you can find 27 LEED-certified or LEED-proposed option(s). A total of 4 building(s) here earned a LEED-certification — certification levelPlatinum (1), Gold (2), Silver (1).
There are, of course, a lot of things to factor in when you are looking for office space. Aspects including the accessibility of the location, the quality of the facility, the size of the space, the convenience of nearby amenities, the type and duration of the lease, and of course the cost are all part of the search and decision process. For a quick checklist of what you should take into account when researching the market, consider these seven tips for choosing the best office location for your business. Alternatively, for a comprehensive take on everything to consider when looking for office space, see our in-depth guide to finding office space for small or growing companies. The guide also includes insights from seasoned professionals and can serve as a helpful resource for growing companies, no matter their current size.
Are you looking to lease office space in the vicinity of your current location or in a particular neighborhood of Memphis? Using the interactive map, you can easily navigate to your preferred location and customize your search area around a specific point of interest. Select “Radius” from the Search Mode options menu, click on the map to set your search reference point, and expand the radius to select your desired search area. Browse available listings to find the best office space that meets your location, as well as other business needs.
There are a number of factors that make a city attractive for businesses to relocate or expand, as well as for investors to enhance their portfolios through local acquisitions. Among the most important factors to consider are the size and quality of the local office market, which is an essential component of the local economy.
| Building Size Range | Total Square Feet | Share of Total Office |
|---|---|---|
| 50k to 100k Sq. Ft. | 8,053,734 Sq. Ft. | 26.49% |
| 100k to 500k Sq. Ft. | 15,658,125 Sq. Ft. | 51.51% |
| 500k to 1M Sq. Ft. | 1,698,791 Sq. Ft. | 5.59% |
| > 1M Sq. Ft. | 2,100,000 Sq. Ft. | 6.91% |
| Class | Total Square Feet | Share of Total Office |
|---|---|---|
| Class A | 10,609,237 Sq. Ft. | 34.9% |
| Class B | 16,777,483 Sq. Ft. | 55.19% |
| Class C | 3,013,795 Sq. Ft. | 9.91% |
Situated at the meeting point of three states — Tennessee, Mississippi and Arkansas — Memphis, Tenn. is widely known as a major transportation hub. However, companies that decide to set up shop in this metro will find that the Memphis office market has a lot to offer and every neighborhood in the city has a distinct feel.
The metro’s main area for corporate offices is downtown Memphis, which is located south of I-40 along the Mississippi River waterfront. Besides its ideal location for logistics, Memphis also offers a unique cultural atmosphere — it’s been dubbed “the home of the blues” and “the birthplace of rock ‘n’ roll.” The city’s spirited music scene is just one of many attractions for prospective residents and companies, in addition to its historical buildings and diversity.
Oklahoma City was the most affordable city on our list (followed by Tulsa, Okla., and Memphis, Tenn.). However, average or below-average scores in all other metrics except unemployment meant it secured a #24 finish. Yet, for remote workers or Zoomers looking for a quieter life, Oklahoma City could still be a great contender.
Memphis landed in third on our list of top options for the most office we could rent within our budget. The iconic city has been ranked among the best in the country for small business growth.
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