The Atlanta office market ended the fourth quarter 2016 with a vacancy rate of 14.8%. This vacancy rate represented a (0.2) percentage point decrease over the previous quarter, when the rate was 15.0%. This decrease in vacancy rate occurred in a quarter where Atlanta saw 1,063,105 square feet in positive net absorption and 804,373 square feet in deliveries. Quoted rental rates ended fourth quarter 2016 at $23.35 per square foot, up from $22.91 per square foot in the third quarter 2016. At the end of fourth quarter 2016, there was 4,617,738 square feet under construction in the Atlanta office market.