Cumberland/Galleria vacancy continues to decline.
The Cumberland/Galleria submarket performed well again this quarter. With just over +104k SF in absorption, the year-to-date total now stands at just under 257k SF. In addition to absorption, vacancy also recorded positive progress this quarter by declining 40 basis-points. Year-over- year this represents an 80-basis point change in vacancy and signals a significant turn around from the previous year. Despite these positive indicators, the overall rental rate increased minimally to $27.53.
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.