ATLANTA—Millennials make up 30% of Midtown Atlanta, according to CBRE's first quarter office report. That percentage is higher than all Atlanta submarkets and contributes to what CBRE is calling the metro's lowest office vacancy in eight years.

As many companies are becoming increasingly aware of this generation's preferences and the pool of talent in Midtown, they find ways to adapt. Sometimes they adapt through development. Other times they adapt through strategic real estate decisions and relocations.

“Despite some large block scarcity in core submarkets, office vacancy and rents still have some runway left before significant additions to the market take place,” Travis Deese, senior research analyst with CBRE's Atlanta office, tells GlobeSt.com. “We expect fundamentals in the core markets for both product types to continue improving in the near future, and for class B and C properties to feel some of the same positive effects, to a smaller degree.”

Midtown's rebound has continued into the first quarter of 2015, with five multifamily projects under construction or recently completed and big-name relocations such as Worldpay's move to Atlantic Station. Several other notable technology companies are considering or have already flocked to the talent-rich, young area, including NCR, Twitter, RIB Software, MailChimp, Cardlytics and AthenaHealth.

According to CBRE, these companies have been known to quote the millennial talent from Georgia Tech, Georgia State, and Emory University as drivers for their locations. Following this rush of new companies to the submarket, CBRE reports, 2015 is expected to see several more tech firms committing to Midtown.

Overall office market conditions remained positive throughout Atlanta the first quarter, with absorption reaching 677,448 square feet. Class A headquarters, expansions, and office renewals lead the charge.

Overall vacancy achieved its lowest level in eight years, at 18.5%. A few key transactions this quarter include SITA in Cumberland, Mercedes-Benz in Central Perimeter, Comcast in Peachtree Corners, Focus Brands in Central Perimeter, and Liberty Mutual Insurance Company in the Northeast submarket.

Is Atlanta's office market truly recovering or is this just a temporary bump? Click here to get another perspective on this question.