Key Takeaways

  • Like most of the market, Cumberland/Galleria’s office absorption was modest this quarter with the submarket seeing just under 43,000 square feet in occupancy gains.
  • Cumberland/Galleria’s Class A rental rate average increased the most this quarter of any other Atlanta office submarket this quarter.
  • Even though absorption activity was reserved in Q3, the submarket’s leasing activity received much attention. Headquarter announcements and expansions by Thyssenkrupp, Floor & Decor, and Home Depot were the largest transactions to occur in the Atlanta market this quarter.
  • A recent study conducted by Georgia Tech confirms a strong fiscal impact from the Atlanta Braves’ SunTrust Park and Battery development to the Cumberland/Galleria area. The amount of office demand that has occurred, and continues to occur here is also validation of the project’s economic prosperity to the submarket.

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