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Market Report

Atlanta Office Investment Forecast

2020 Outlook

SunTrust Park Stimulating Demand in Cumberland; Elevated Appreciation Fueled by Competitive Buyer Pool

Cumberland drawing corporate interest as The Battery development takes shape. Office-using employment gains exceed 10,000 personnel for the 11th consecutive year in 2020, powered by the multitude of corporate relocations and the growing technology scene. Consistent with the national trend, companies are moving from the central business district to the suburbs to capitalize on new worker pools and lower rent. The opening of the new Atlanta Braves baseball stadium, SunTrust Park, in 2017 has also been luring firms to Cumberland. Surrounding the stadium, the mixed-use development called The Battery has improved the walkability of the area and provided a centerpiece for future corporate relocation. This year, 330,000 square feet of office space will be added to The Battery, roughly two-thirds of which is pre-leased by Thyssenkrupp for a new North American headquarters. As a whole, the metro will receive a cycle-high 3.8 million square feet of space this year, roughly one-quarter of which is being built on a speculative basis. As some of these projects may take longer to lease given the large influx of new supply, the vacancy rate will move up in 2020.

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