| Atlanta Office Space Market - Cumberland/Galleria |
(Reported by)
Connie Engel
Partner
Childress Klein Properties
connie.engel
@childressklein.com
770-827-9700
Looking for space?
Connie has 25 years of CRE experience and has done many deals. |
Cumberland/Galleria Submarket - 1st Qtr 2012
Effective Rental Rates:
Class A office space: $20.00-$24.00 per SF
Class B office space: $15.00-$19.00 per SF
Class C office space: $10.00-$14.00 per SF
Concessions:
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Free Rent: One month per year of lease term. |
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Tenant Improvement Allowance:$10 to $25 per RSF depending on length of term. |
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Moving Allowances: Negotiable based on terms and generally built into TI package. |
Absorption Rate: 16,259 SF in 4th Qtr 2011*
Vacancy Rate: 19.99% in 4th Qtr 2011*
* Source: CoStar Group, Inc.
New office projects in the area: No new buildings are under construction in the Cumberland market. Probably nothing projected for a while. The last major buildings came on-line in 2001.
Major office leases or announcements: Traffic picked up after New Years and there is still a fair amount of velocity in the smaller requirements. 
Other trends in the submarket that should be noted: There are limited blocks of large contiguous space on the market. This fact is unfortunate since we want new companies to move here and existing large users to remain here.
Browse market reviews on other major office submarkets in Atlanta. |
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| Cumberland/Galleria Premier Office Property Short-List* |
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Circle 75 Office Park
900, 1000, 1100 Circle 75 Pkwy.
RATE:
$15.00-18.50 (G)
MAX CONTIG:
72,097 SF |
 |
| Transwestern |
|
|
 |
100 City View
3330 Cumberland Blvd.
RATE:
$24.00
MAX CONTIG:
35,207 SF |
 |
Pope & Land
Enterprises, Inc. |
|
|
 |
Corporate Forum
4501 Circle 75 Parkway
RATE:
$14.75/G
MAX CONTIG:
28,486 SF |
 |
| Ackerman & Co. |
|
|
 |
Interstate North Office Park
150, 180, 210, 290, 294, 296, 320, 340, 360, 380, 3100
Interstate North Parkway
RATE:
$18.00-21.00
MAX CONTIG:
55,025 SF |
 |
| Tishman Speyer |
|
|
 |
1165 NorthChase
1165 Northchase Pkwy.
RATE:
$15.50-17.00 (G)
MAX CONTIG:
18,882 SF |
 |
| PM Realty Group |
|
|
| 1,959 RSF |
New |
Trimech |
Tenant Rep: Jason Watt/Kim King Associates |
12/2011 |
| 2,500 SF |
New |
PSI Security |
Tenant Rep: Phoenix Atlanta - Gibby Thrift |
04/2011 |
 |
Paces West
2727 Paces Ferry Road
RATE:
$20.50-22.00(G)
MAX CONTIG:
43,389 SF |
 |
| Jones Lang LaSalle |
|
|
| 190,008 SF |
Renewal/Expansion |
Piedmont Healthcare |
Tenant Rep: John Shlesinger / Steve Barton, CBRE |
2011 |
| 2,475 SF |
Renewal |
Reliance Worlwide |
Tenant Rep: JLL |
2011 |
| 2,105 SF |
Renewal |
Whirlpool |
Tenant Rep: Liz Love, JLL |
2011 |
| 1,975 SF |
New |
Onward Search |
Tenant Rep: Chad Koenig, NAI Brannen Goddard |
2011 |
| 1,505 SF |
Expansion |
Lincoln Financial |
Tenant Rep: Grubb & Ellis |
2011 |
| 2,950 SF |
New |
First Fidelity |
Tenant Rep: Ackerman |
2011 |
| 1,971 SF |
Renewal |
Kirschner & Venker |
Tenant Rep: KW Commercial |
2011 |
| 2,643 SF |
New |
Impak Films |
Tenant Rep: JLL |
2011 |
| 8,355 SF |
Expansion |
Reliance Worldwide |
Tenant Rep: JLL |
2011 |
| 3,037 SF |
New |
Broel Childs |
Tenant Rep: Shaw & Associates |
2011 |
| 1,569 SF |
New |
Technical Resources Group |
Tenant Rep: Corporate Realty Advisors |
2011 |
| 3,209 SF |
Renewal |
Tile Media |
Tenant Rep: Cresa |
2011 |
| 14,826 SF |
Renewal/Expansion |
Konica - Minolta |
Tenant Rep: Cushman & Wakefield |
2011 |
 |
Parkway Center
Parkway Place
RATE:
$19.50
MAX CONTIG:
80,014 SF |
 |
| Jones Lang LaSalle |
|
|
| 29,833 SF |
New |
Eka Chemical |
Tenant Rep: Kerry Davidson |
2011 |
| 4,957 RSF |
Renewal |
Group 1201 |
Tenant Rep: N/A |
2011 |
 |
Parkwood Plaza
1300 Parkwood Circle
RATE:
$21.00 (FS)
MAX CONTIG:
9,119 SF |
 |
Stream Realty
Partners, L.P. |
|
|
 |
Piazza at Paces - The Forum
3290 Northside Parkway
RATE:
$19.50 (N)
MAX CONTIG:
96,000 SF |
 |
| Two Realty Partners |
|
|
 |
Powers Ferry Business Park
2030 Powers Ferry Road NW
RATE:
$12.50 (MG)
MAX CONTIG:
7,605 SF |
 |
| EpiCity Real Estate Services |
|
|
 |
Powers Ferry Landing West
6425 & 6445 Powers Ferry Road
RATE:
$17.00 (G)
MAX CONTIG:
3,510 SF |
 |
Baker Dennard &
Goetz, Inc. |
|
|
 |
Powers Pointe
5665 New Northside Dr.
RATE:
$16.50
MAX CONTIG:
15,661 SF |
 |
| Ackerman & Co. |
|
|
 |
RiverEdge Place
2000 RiverEdge Parkway
RATE:
$15.50-19.50
MAX CONTIG:
26,796 SF |
 |
| Newmark Knight Frank |
|
|
| 5,100 SF |
Renewal/Expansion |
|
Tenant Rep: Kevin Carroll, CBRE |
02/2011 |
| 11,000 SF |
Renewal |
|
Tenant Rep: Luke Kassler, Paramount Real Estate Partners |
02/2011 |
 |
RiverEdge Summit
1600 Riveredge Parkway
RATE:
$21.00
MAX CONTIG:
150,000 SF |
 |
| Transwestern |
|
|
| 4,110 SF |
New |
O’Gara Aviation |
Tenant Rep: Tim Farley & Richard Courts/ Cassidy Turley |
11/2011 |
| 3,675 SF |
Expansion |
SunTrust |
Tenant Rep: Kirk Diamond/ Cassidy Turley |
10/2011 |
| 109,556 SF |
New |
Graphic Packaging International |
Tenant Rep: Addison Meriwether & Travis Jackson/ Cushman & Wakefield |
09/2011 |
| *Short-List represents featured properties inside Dorey’s Atlanta Office Guide. The Done Deals shown in this Short List are reported to us quarterly as a voluntary effort. It does not represent a comprehensive report of done deals for all Short List properties. |
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