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.