Record-smashing 2020 reflects demand for industrial space in Memphis area
Cummins renewed 371,233 square feet of space at 4650 Quality Drive in Southeast Shelby County during the fourth quarter of 2020. (Tom Bailey/Daily Memphian)
When you add all the industrial space leased during 2020 and subtract the new vacancies, the Memphis area experienced a net positive absorption of more than 12 million square feet. The vacancy rate fell to 5%, and 12 million square feet of more space is under construction.
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CBRE industrial real estateTom Bailey
Tom Bailey retired in January as a business reporter at The Daily Memphian, and after 40 years in journalism. A Tupelo, Mississippi, native, he graduated from Mississippi State University. He has lived in Midtown for 36 years.
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