Swedish appliance maker Electrolux announced a deal this week with Memphis City and Shelby County leaders to build a 700,000 square foot manufacturing facility in Memphis that will be fully operational by 2012. The new facility will employ 1,200 workers and it's suppliers and offshoot companies will add an addtional 2,000 jobs to the Memphis area. For Memphis real estate investors, news like this is music to our ears.
Memphis has long been a staple for American industry and a leader in distribution and transportation services. By building the manufacturing and distribution facilities in Memphis, Tennessee, Electrolux is choosing a fantastic location with an eager and hungry work force. Those additional jobs not only help continue the trend of stabilization, but they also reduce the burden of the community when it comes to paying bills.
For Memphis real estate investors, the news of the additional jobs is great. With investing in Memphis real estate at an all time high, and prices of Memphis discount properties continuing to hold steady at an unusually low price point and companies like ours offering improved services, investing in Memphis, Tennessee properties seems to have a bright future. Companies like Electrolux would not be shuttering factories in other parts of the world and relocating operations to Memphis if the city itself did not offer distinct advantages.
Advantages like affordable housing, updated infrastructure, a competitive and available work force and most important a solid environment for success. These are all characteristics that investors should consider when purchasing properties that are discounted. Value is so much more than cheap pricing. If the properties are not in demand and the tenants do not have the ability to pay rent, then the price of a property is no factor at all when it comes to determining value - there is no value without the other factors!
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