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Market Report

Memphis Industrial Market Report

Midyear 2023

Developers React to Ford and FedEx Projects;
South Memphis Emerging as the Center of Demand

The metro’s industrial sector continues to diversify. In 2022, several large manufacturing and distribution projects were announced. In addition to FedEx’s $1 billion renovation to its existing facility at Memphis International Airport — making Memphis home to the second-largest air cargo facility in the world — Ford is constructing a vehicle and battery manufacturing campus in Haywood County. Both facilities are expected to reach completion by 2025. Developers have reacted with a slew of project proposals and groundbreakings. DeSoto and Fayette County, both with proximity to the sites, are each slated to receive over 2 million square feet of new stock this year, composed predominantly of warehouse and distribution space. 

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