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Atlanta Real Estate Market Trends | Cumberland/Galleria Office Q2 2021

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NorthwestATL_20192

Cumberland/Galleria has second highest occupancy gains in Atlanta this quarter.

Thanks to a couple of large occupancies, the Cumberland/Galleria submarket saw the second highest amount of space absorbed in the Atlanta market in Q2. Both thyssenkrupp and Papa John’s opened their new headquarters in the recently delivered Three Ballpark Center adjacent to Truist Park, which propelled the submarket’s net occupancy gains to 117,000 square feet this quarter. In spite of this, vacancy continued its upwards trend, but mostly due to the newly delivered office building. For the second half of the year, the submarket should begin to see the positive activity continue and vacancy begin to trend downwards. 

What you'll learn in this quarter's Northwest Atlanta Office Market Report:

  • Current vacancy rates and availability
  • Q2 2021 absorption and office leasing activity
  • Current average office rental rates
  • Office building construction activity
  • Sales activity and current office building cap rates

Download the full Colliers Atlanta Northwest Atlanta Office Market Report to learn more about the fundamentals shaping the Cumberland/Galleria, Marietta and Cobb County area office submarket of Atlanta, GA.


2021Q2OfficeNorthwestAtlanta

Atlanta Real Estate Market Trends | Cumberland/Galleria Office Q2 2021

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Related Experts

Drew Levine

Senior Vice President, Principal

Atlanta

I am a Senior Vice President in the Occupier Services Group, a Colliers group that exclusively represents tenants. I have successfully advised startups, high-growth, and established companies since 2011. My team delivers customized services on local, national, and global levels that allow companies to make well-informed, profit driven real estate decisions. I have been involved in a wide range of transactions, from small acquisitions for startup companies to campus projects for Fortune 500 companies. Our work has included relocation and expansion projects, consolidations and dispositions, headquarter planning, lease terminations and complete portfolio planning strategies for hundreds of leading technology, professional services, and manufacturing companies. We strive to deliver real estate business solutions that: add measurable value, reduce costs, decrease business operating risks, improve workplace performance, expand flexibility, and increase overall profitability.

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