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.

Crown World this week followed through with its plans for Memphis after receiving a tax incentive in December. The firm has bought the long-empty office building at 2990 Airways and will establish operations there.

Ollie’s has two Memphis locations, one in the Wolfchase area and the other in Southwind’s Centennial Commons shopping center. Both are in former Toys R Us buildings, 

The firm buys a portfolio of seven retail strip centers, including four in the Memphis area. 

Even with the tax-break incentive, Central Yards would still generate $7.7 million more in local tax revenues over 20 years than the same property would generate without the mixed-use development, according to the Downtown Memphis Commission.

He first founded The Furniture Center, then acquired a substantial amount of commercial real estate through his American Properties Co. No matter the deal, Ronnie Underberg wanted both sides to feel good about the transaction.

OtherFoods Kitchen now serves 25 small businesses that make everything from take-home meals to bagels to gluten-free dog treats. The shared commercial kitchen rents its facilities by the hour, allowing startup businesses to avoid big overhead costs.

The Quebec-based Quint Group paid $8.75 million to Illinois-based Agracel Inc. for a 258,000-square-foot industrial building. Kemp Conrad, a principal with Cushman & Wakefield/Commercial Advisors, will represent Quint Group in leasing the building.

The 9.3-acre site, now cleared by demolition, sold for $7.7 million to RCM Devco LLC, which lists developer Chance Carlisle of One Beale as its agent.

So far, $2 million of the $2.5 million goal has been raised to rebuild Overton Park golf course and renovate its Abe Goodman Clubhouse. 

A funeral home on the recently down-zoned section of Lamar wants to add a second cremation furnace, but now must seek a zoning variance to do it.

Memphis Country Club in 2016 purchased the New Olivet Baptist Church property and other properties, got the city to close a street bisecting the 4.1 acres, and now has unveiled plans to expand its tennis and pickle ball courts.

Construction could start by March on a new retail building on Poplar at Humes, just east of the Poplar Viaduct.

The firm’s plans for 2197 Central is just a block east of a much larger mixed-use development that is planned by another developer.

Affected property owners oppose the design for replacing the Poplar Viaduct that would remove direct access between Scott Street and Poplar Avenue. City and state engineers say keeping the connection would be less safe.

Now, the refinery and steelworkers of Presidents Island as well as Metal Museum visitors will be asked: “When you were still young, Did you ever dream about, Being who you are.”

Hyatt Centric’s hotel guests and patrons of its rooftop bar and riverfront restaurant will have river views despite plans to erect a taller Grand Hyatt next door.

Completed in 2019 at 6200 Global as the city’s first spec warehouse in 11 years, the 421,000-square-foot, Class A facility quickly landed a tenant and has just sold for a second time. And, several other speculative logistics centers in Memphis are in the pipeline.

Homes in the neighborhood have fallen into disrepair, but renovations and new construction are giving the Glenview community new life.

The industrial real estate firm Faropoint had acquired in 2016 five of the buildings it just sold, and bought the other 23 buildings in 2018. Faropoint still owns a substantial amount of industrial space in Memphis.

The Board of Adjustment approved zoning variances for both a service to the homeless and for the Railgarten entertainment venue. But the board imposed two-year sunset clauses on both approvals.

If Crown World decides to come to Memphis, it would buy and renovate an empty, airport-area office building, invest $2.7 million in the property, and hire 25 people.

The owner of Alcenia’s restaurant is receiving help from multiple organizations to buy and improve her Pinch District building. And the owner of a historic Film Row building receives help to renovate the exterior of the Art Moderne structure.

A colorful debate is being waged over the striking designs in the renovations of two old, East Memphis apartment communities.