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DeSoto County Continues to Lead Memphis Real Estate Market
Despite downturns in the Memphis-area commercial real estate market, DeSoto County remains strong in this area. Several real estate publications have noted DeSoto County’s growth in the market. Southeast Real Estate Business quotes Charles Sevier of Crump Commercial as saying “the most significant developments” took place in DeSoto County, with good planning and tax incentives as the catalysts for business locations and expansions in the county.
CB Richard Ellis’s quarterly publication listed DeSoto County as the only Memphis submarket with positive absorption, reaching more than 700,000 square feet, and anticipates most new construction in the Memphis area to take place in DeSoto County.
Colliers Wilkinson & Snowden also recognizes DeSoto County’s lead, citing that all Class A construction in the area is taking place in DeSoto County. Grubb & Ellis reports as well that vacancy rates are increasing almost everywhere but DeSoto County.
Several developers are helping to increase DeSoto County’s available space, including IDI, Panattoni, Hillwood, and ProLogis. The FedEx Ground hub in Olive Branch is also cited as a spark for the ongoing growth in the county