One Commerce Square — Lease in Memphis, TN

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

Description

Leed Gold Certified Class A Office Space Available in Downtown Memphis Since 2010, One Commerce Square has invested over $5.0 million in capital improvements including modernization of the elevators, new roofs on the office tower and annex, chiller replacements, LED lighting in the garage and numerous upgrades to the building lobby and common areas.

Market Context

This office in Memphis, TN is listed for lease. It has been on the market for 196 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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