Memphis Retail Market Report

Suburban occupancy and major developments signal growth. South Memphis saw meaningful tightening, with single‑tenant vacancy contracting by more than 300 basis points, while Germantown, though experiencing some vacancy increases, continues to command the metro’s highest rents and maintain relatively low availability. In East Memphis, the Oak Court Mall redevelopment plans, which would include multifamily housing, a convention center, shops, a car showroom, and more, should increase foot traffic in the area as the redevelopment is adjacent to Route 72. With Germantown, East Memphis, and Cordova capturing only a small share of new supply in 2026, these high‑income areas are positioned to remain competitive. Additional momentum is expected beyond 2026 as the multiphase Neural Nexus project progresses downtown across from AutoZone Park. This project is set to deliver more than 1.7 million square feet of space, including an innovation center, retail, multifamily units, and a hotel.