The Commonwealth Building — Lease in Memphis, TN

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Office
  • Location: Memphis, TN 38103

Description

Move-In Ready Office Space The Commonwealth was built in 1926 and beautifully restored in 2019. The building includes retail, commercial office space and 40 residential units. The ~2,000 SF available on the 6th floor is move in ready for plug and play office users. Covered parking available.

Market Context

This office in Memphis, TN is listed for lease. It has been on the market for 195 days. Compare it against other office listings for lease in Memphis, TN — view the full market.

As of Q1 2026, the Memphis office market showed a 6.0% vacancy rate, average asking rents near $55.08/SF/yr, and rents up 0.4% year over year. Source: CBRE Q1 2026 market report.

Tight vacancy keeps competition for quality space elevated.

Office market FAQ

Is the Memphis office market tightening or softening?
Vacancy is around 6.0% (Q1 2026).

Estimated Market Rate

$17.18/SF/mo – $20.86/SF/mo

Mid: $18.14/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

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