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Atlanta Real Estate Market Trends | Cumberland/Galleria Office Q4 2021

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NorthwestATL_20192

Activity remains flat in Cumberland/Galleria for Q4.

Cumberland/Galleria ended the year much like it performed for most of it. The submarket posted positive absorption in the fourth quarter, however, it totaled just under 25,000-square feet. The lack of any strong gain or loss has essentially, along with no new deliveries this quarter has kept the overall vacancy rate around the 16% level; where it has been since Q2, and an increase of 140 basis points (1.4%) year-over-year. Even with this, overall leasing activity for the year was up slightly. Much of this activity was in new transactions which means the submarket should see stronger gains in the coming year.

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

  • Current vacancy rates and availability
  • 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.


Activity Remains Flat In Cumberland/Galleria

Atlanta Real Estate Market Trends | Cumberland/Galleria Office Q4 2021

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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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