The Buckhead office market ended the first quarter 2009 with a vacancy rate of 15.38%. This vacancy rate represented a 0.1 percentage point increase over the previous quarter, when it was 15.28%. The increase in vacancy occurred in a quarter where Buckhead saw negative 18,194 square feet in net absorption and no new deliveries. Quoted rental rates ended the first quarter 2009 at $26.13 per square foot, down from $26.37 per square foot in the fourth quarter 2008. At the end of the quarter, there was 1,980,731 square feet under construction in the Buckhead office market.

Class A projects in Buckhead reported a first quarter 2009 vacancy rate of 16.60%, down from the 16.72% reported at the end of fourth quarter. Net absorption within the class A sector totaled positive 15,401 square feet for the quarter, and no new deliveries were reported. Quoted rental rates for available space within the class A sector averaged $26.95 at the end of the quarter, down from the $27.18 that was reported in the fourth quarter. There was 1,980,731 square feet under construction in the class A market at the end of first quarter.