“Why are there so many empty warehouses in Southaven?” is a question that I consistently receive. Although there may have been times in the past when temporary vacancies were different, that is not what we are experiencing now.
Absorption is the economic term used to measure the net change in industrial space occupancy (move-ins minus move-outs). *During the last twelve months, Desoto County ranks 3rd in the nation in positive industrial absorption. At the end of the 2019 third quarter, industrial space in Desoto County is 90.9% occupied.
Our county is an extremely attractive place to locate or expand due to our two major interstate systems, proximity to air and water transportation, centralized geographic location, qualified workforce, and great quality of life amenities for the families of employees.
The City of Southaven has enjoyed rates of success just like our entire county in 2019 and continues to see positive growth and improved occupancy trends, most notably with the addition of Kruger (350,356 square feet) this year, Spectra Laboratories (211,000 square feet) currently under construction, and Medline Industries (1.4 million square feet) to be constructed in 2020.
*CBRE Marketview, Q3 2019