Commercial real estate in general is huge and Memphis has large brokerages that do big business. One such business is Memphis Commercial & Industrial. Commercial real estate brings with it career options that are different from residential sales. Beyond arranging sales of commercial properties, other career choices include development of properties that can include multiple tenants. A commercial agent may be responsible for finding the anchor tenant for a new development. These agents are often called upon to manage existing properties. This includes staffing, contracting for services, repairs, maintenance, etc.
Memphis Commercial & Industrial makes a major effort to expose available properties at a national level. Much of this is done over the internet using resources such as:
Adding to the career choices available to commercial agents are the broad services offered by Memphis Commercial & Industrial. Among the services are new location searches, searches for new developments, and sales of existing locations. On the lease side you'll find services for lease, lease renewal, and sublease representation.
Other services more diverse from residential properties include:
Of course, Memphis is a major city with lots of commercial development and activities going on. One of the bigger ones is the planning for the redevelopment of the Historic District. An important but long neglected part of down town, it is in the planning stages to be revitalized. The Historic District should be attractive to commercial businesses now that it is situated between the new Bass Pro Shops at the Pyramid and the planned expansion of St. Jude Children's Research Hospital.
Tenant improves have been approved for the vacant former retail mall at Peabody Place. The improvements are expected to cost approximately $15 million. The former mall is being transformed into office space by ServiceMaster Global Holdings. The cite decision announcement was made June 3 after a multi-state search for an expansion location. About 1,200 employees are expected to eventually occupy the property.
A 14.7 acre site in East Memphis near Midtown is going on the auction block at the end of June. This is undeveloped land but not out at a distant location. It is prime land for commercial development. What will be built there won't be known until after the auction and the developer makes an announcement.
Memphis commercial real estate provides plenty of opportunites for real estate professionals looking for diverse career choices.
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Author bio: Brian Kline has been investing in real estate for more than 35 years and writing about real estate investing for 10 years. He also draws upon 30 plus years of business experience including 12 years as a manager at Boeing Aircraft Company. Brian currently lives at Lake Cushman, Washington. A vacation destination, a few short miles from a national forest. With the Pacific Ocean a couple of miles in the opposite direction.