- On the whole, the Cumberland/Galleria submarket experienced positive activity in the first quarter. Just under 50,000 square feet of office space was absorbed in Q1.
- Though modest, the positive absorption helped push the submarket's vacancy rate down to 15.8% which is below 16.0% for the first time in a year.
- Class A vacancy was up slightly in Q1 due to a net loss of occupied space. Bluelinx relocation from 150,000 square feet in Wildwood to a Class B building nearby was the largest contributor to this.
- The increased leasing activity in Cumberland/Galleria this quarter bodes well for future occupancy gains.
- A number of large occupancies are expected to occur later this year in the submarket. Given this, and also the continued economic success occurring int he Cumberland/Galleria area, the submarket remains one of Atlanta's strongest office locations.