This week on Channel 10’s Behind the Headlines, President of the Bartlett Chamber of Commerce, John Threadgill, and Chairman of the Shelby County Chamber Alliance, Harold Byrd, join host Eric Barnes and Daily Memphian reporter Bill Dries.
Across the region, few businesses have let go of their leased office space.
Even though plenty of Greater Memphis’ 300,000 office workers labor from the safety of their homes during the pandemic, their employers haven’t cut ties to the office landlord.
Why does some company s decision to hold on to its offices benefit homeowners?
If a lot of businesses moved out of leased office space, building values in Memphis’ seven main office districts eventually could fall and probably shift a larger property tax burden onto homeowners.
That shift might still happen, but so far it hasn’t. Many smart people doubt it will. They say a rising economy and the exhilaration of moving past the pandemic will lift demand for the region’s 26 million square feet of office space.