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Atlanta Real Estate Market Trends | Cumberland/Galleria Office Q3 2022

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NorthwestATL_20192

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.


Q3 2022 Northwest Atlanta Office Commercial Real Estate Report

Atlanta Real Estate Market Trends | Cumberland/Galleria Office Q3 2022

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Nathan Bell

Research & Business Development Associate

Atlanta

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