Given occupier concerns with the future of office space and more downsizing than expansions, Atlanta’s vacancy rate remains nearly unchanged year-over-year, ending Q3 2022 at 19%. Several new, Class A office buildings delivered this quarter, including Midtown’s Midtown Union which was 60% preleased at the time of delivery, Downtown’s Fourth Ward which was 68% preleased at the time of delivery, and Buckhead’s One Phipps Plaza which was 35% preleased at the time of delivery. While leasing activity is not as robust as in recent quarters, average asking rents climbed to $30.02 PSF, with Midtown being the highest priced submarket in the metro area at $41.08 PSF. Year-to-date 2022 absorption ended Q3 at positive 1.4 MSF, which is the highest year-to-date amount absorbed since 2015. This level of broad demand speaks to the strength of Metro Atlanta’s office sector and recovery.