Memphis, Tennessee, is a vibrant city with a rich cultural history, and there’s no better time to experience it than during the Memphis In May International Festival. As commercial real estate agents at Jones Aur, we want to showcase how the city’s bustling events calendar creates unique opportunities for landlords, tenants, investors, and developers. This blog will explore the fantastic events in May and discuss how they contribute to Memphis’s commercial real estate market. Let’s dive into the festivities and uncover the potential within this burgeoning city!
Beale St. Music Festival (May 5 – 7, 2023)
The Beale St. Music Festival is a three-day event featuring an eclectic mix of local and international artists across multiple stages. This year, the festival will take place from May 5 to May 7, attracting thousands of music lovers to the heart of downtown Memphis. The influx of visitors provides businesses near Beale Street with a unique opportunity to capitalize on increased foot traffic and visibility. Our 2023 roster includes the likes of The Lumineers, Greta Van Fleet, Robert Plant & Alison Krauss, Earth, Wind & Fire, Hardy, and many more!
This event boosts the local economy and offers real estate investors and developers the chance to tap into the city’s booming entertainment district. With a variety of commercial spaces available for retail, food, and beverage businesses, the Beale Street area becomes a hotspot for investment during the festival. Additionally, the demand for short-term rentals and hotels in the vicinity increases, making it an ideal time for property owners to maximize their rental income.
World Championship Barbecue Cooking Contest (May 17 – 20, 2023)
From May 17 to 20th, the aroma of mouth-watering barbecue will fill the air as the World Championship Barbecue Cooking Contest takes center stage. This annual event attracts diverse teams, all competing to be crowned the best barbecue. With thousands of attendees flocking to the riverside park, commercial real estate near the event site becomes an attractive prospect for restaurant owners, vendors, and retail businesses looking to capitalize on the surge in customer traffic.
As real estate agents, Jones Aur can help you explore available spaces and find the perfect location to benefit from this popular event. Businesses have plenty of opportunities to thrive during the World Championship Barbecue Cooking Contest, from stand-alone buildings to shared retail spaces. Additionally, this event helps solidify Memphis as a foodie destination, attracting culinary entrepreneurs and investors to the city throughout the year.
Great American River Run (May 27, 2023)
On May 27, the Great American River Run brings together fitness enthusiasts for a series of races, including a half marathon, 10K, and 5K. Participants and spectators alike will experience the city’s scenic Tom Lee Park, making it a prime opportunity for commercial real estate investments along the route. This event highlights the importance of Memphis’ riverfront real estate for hotels, restaurants, and retail establishments.
Jones Aur will help you discover the perfect investment opportunity near this picturesque part of the city. The riverfront area offers a diverse range of commercial properties, from modern office buildings to historic warehouses, all with the potential to attract businesses and customers alike. As the Great American River Run continues to grow in popularity, the demand for commercial spaces in the area shall increase, making it a wise investment for those looking to capitalize on Memphis’ fitness and outdoor culture.
International Salute To Malaysia
The Memphis In May International Festival also celebrates the culture of a different country each year, with 2023’s focus being Malaysia. This international salute offers an array of cultural events, performances, and exhibits, all showcasing the beauty and diversity of Malaysian culture. The celebration brings in visitors worldwide, further promoting Memphis as a thriving cultural hub.
These international connections offer a unique opportunity for commercial real estate investors and developers to cater to an increasingly diverse clientele. With the city’s growing international appeal, businesses specializing in global cuisine, imported goods, and multicultural experiences are in high demand. As a commercial real estate agent, I can help you find the ideal property to accommodate this growing market segment.
The Impact of Memphis in May on Commercial Real Estate
The Memphis In May International Festival is more than just a series of events; it’s a testament to the city’s dynamic nature and ability to attract people from all walks of life. As commercial real estate agents, the Jones Aur team sees firsthand how these events create a ripple effect throughout the local economy, boosting demand for retail, restaurant, and hospitality spaces.
Investing in Memphis’ commercial real estate during this heightened activity can yield significant returns for investors and developers. The influx of visitors and increased foot traffic create a favorable environment for new businesses to flourish and for existing businesses to expand. By strategically positioning your commercial property near these popular events, you can maximize its potential and attract a diverse clientele.
The Memphis In May International Festival is a fantastic celebration of the city’s culture, history, and community spirit. These events provide an unforgettable experience for attendees and open up unique commercial real estate opportunities for businesses and investors. At Jones Aur, we specialize in bringing landlords, tenants, investors, and developers together to work towards common goals and shared interests. Contact us today to explore the vibrant Memphis commercial real estate market and capitalize on the excitement of Memphis in May. Together, we can help you make the most of this flourishing city and its unparalleled potential. Reach out to the Jones Aur team here.
