Business Booming In The Bluff City

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From the number one employer in Memphis expanding to new retailers moving in. These are more signs that the local economy is turning around. A global fashion retailer announced plans Tuesday to open new stores in the coming months. That means job creation and more money being pumped into our local economy.

Memphians should prepare for a new 22,000 square foot retail space. H&M announced it’s coming to Cordova as well as east Memphis. This is just the latest in a series of businesses set to open its doors this year.

When it comes to the shopping experience Memphians Local 24 interviewed they said they want convenience. That usually means heading to Mid-South malls.

“They have really unique and different stores inside,” said Kayla Bank.

Bank likes how Oak Court Mall offers one stop shopping for all her fashion needs.

“I bought a hoodie and some sweat pants,” she said Tuesday. “It’s very stylish. It’s cute and simple.”

Come the summer months Bank will have a new store to shop at.

H&M announced it will be opening a store inside Oak Court Mall. A second store is slated to open in the fall at Wolfchase Galleria.

In a statement the global fashion retailer said:

“The new H&M locations will offer Memphis residents a one-stop shopping destination for quality clothing for the whole family, with collections for ladies, men and teens, as well as separate “store within a store” sections for accessories. The breadth and variety of H&M collections make it easier for any consumer to find fashionable products, no matter their personal style. With an emphasis on design, quality, and sustainability, H&M offers inspiring, high fashion at an unbeatable value.”

One shopper who doesn’t normally shop at H&M said she would be interested in seeing their selection of clothing when the stores open.

“If I like what I see,” she said, “I will shop.”

“East Memphis and Wolfchase have always been highly thought of as high retail areas,” said Jacob Steimer.

Steimer is a real estate reporter for the Memphis Business Journal. He follows the trends and money trails and says the Bluff City offers retailers a place to set up shop. In recent months businesses, both large and small, have come to fruition.

“2017 was still a pretty big year for wins for retail in Memphis,” said Steimer. “You had Crosstown Concourse, Overton Square and elsewhere so 2018 is looking like it could be more of the same.” 

In Overton Square Loeb Properties already announced the arrival of a Chipotle at a 7,500 square foot retail center off Union Avenue.

Nearby, Bar Louie has left and according to property management and new tenants are in the works.

“We have come to an agreement with Bar Louie that will free up space for great new restaurants to come to Overton Square, and are interested in exploring fine dining concepts among others. Space at The Square is at a premium, and we have already several options to explore,” said Ciara Neill with Loeb Properties. “We’re excited for the new projects already slated to come online in 2018, including hopdoddy, Chipotle’s opening, and boutique hotel.”  

Also expanding is FedEx. The company says it is planning a major facelift.

The company wants to raze 24 outdated buildings at its airport super hub. All part of a push to modernize the aging facility.

FedEx is asking the FAA to take down hangars and other buildings dating back to when the company first started in Memphis in 1973 and as far back as World War II.

The FedEx hub has taken over areas that once housed the Army Air Corps and a Tennessee Air National Guard base.

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