When we think about U.S. markets with opportunity and potential, Memphis probably doesn’t come immediately to mind. You likely think of primary markets first, like New York City or Los Angeles. However, no real estate investor should make the mistake of underestimating the power and potential in secondary markets.

We love Memphis. One of the things near and dear to our heart when we look at this city is its spirit of innovation. As our first investment market and home, we know this city on an even deeper level than the other markets we invest in. One quality that we see more and more is a growing spirit of entrepreneurship.

It might not get as hot in Memphis as it does in the Lone Star state, but make no mistake—it gets hot! We’ve always believed in Memphis, and it seems like real estate professionals nationwide are paying attention to our hometown, too.

This year, Memphis has been lauded as a market to watch, cited for it’s affordability and growing local economy. While more modest than more out-of-control markets, it’s always had something special that some other on fire markets just don’t have, and something investors really want: stability!

But we’re getting ahead of ourselves. As we approach the halfway point of 2016 and get into the heat of the summer, it’s time for an update on what’s been going on with Memphis real estate:

4 Things to Know about Memphis Real Estate So Far in 2016

Norfolk Southern Bets on Memphis

Norfolk Southern Corp. has placed a bet on Memphis and the surrounding areas as a key location for future growth and expansion.  With a 380-acre inter modal facility just completed in Rossville, a suburb outside Memphis, the inter modal transfer terminal is in full swing and looking to become a driving force behind industrial development in the region.