Memphis Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, JLL, CBRE, Colliers
Quarterly industrial market indicators for Memphis, aggregated by CREhunt from Cushman & Wakefield, JLL, CBRE, Colliers. As of Q2 2026, average asking rent was $4.40/SF/yr and vacancy was 7.2%, per Cushman & Wakefield.
Projected current industrial pricing — Memphis
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Memphis industrial yet, so this applies the typical cap rate across comparable industrial markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q2 2026 Cushman & Wakefield asking-rent data (benchmark cap rate 5.5%–7.5%, asking rent held flat). Assumes ~93% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $4.40/SF/yr | 7.2% | 1.4M SF | — | Cushman & Wakefield |
| Q1 2026 JLL | $4.97/SF/yr | 9.6% | 1.6M SF | — | JLL |
| Q1 2026 Cushman & Wakefield | $4.56/SF/yr | 7.7% | 2.5M SF | — | Cushman & Wakefield |
| Q1 2026 CBRE | — | — | — | — | CBRE |
| Q1 2026 Colliers | — | 1.9% | 72K SF | — | Colliers |
| Q1 2024 Cushman & Wakefield | $4.20/SF/yr | — | 48K SF | — | Cushman & Wakefield |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Memphis industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Desoto County | $4.47/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Marshall County | $4.86/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northeast | $8.89/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northwest | $2.74/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southeast | $5.25/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Southwest | $3.69/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
How the brokerage sources compare
For Q1 2026, the brokerages CREhunt aggregates for Memphis industrial did not fully agree. Asking-rent estimates differ by $0.41/SF/yr — from $4.56/SF/yr to $4.97/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Colliers | 1.9% | — | — |
| CBRE | — | — | 16.0% |
| Cushman & Wakefield | 7.7% | $4.56/SF/yr | — |
| JLL | 9.6% | $4.97/SF/yr | — |
Per-brokerage figures for Q1 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Memphis?
- As of Q2 2026, the average asking rent for industrial space in Memphis was $4.40/SF/yr, per Cushman & Wakefield.
- What is the industrial vacancy rate in Memphis?
- The industrial vacancy rate in Memphis was 7.2% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Memphis market data come from?
- This report aggregates quarterly industrial market data for Memphis from Cushman & Wakefield, JLL, CBRE, Colliers.
- How much do brokerage estimates differ for industrial space in Memphis?
- For Q1 2026, the brokerage sources CREhunt aggregates for Memphis did not fully agree. Asking-rent estimates differ by $0.41/SF/yr — from $4.56/SF/yr to $4.97/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.