As the office market recalibrates and the pandemic wanes, a flight to quality is playing out in a plethora of markets. 

Take One Vanderbilt, for example: the 1.8 million-square-foot Class A+ tower in Manhattan is 90% leased after delivering in 2020. Another prime example? Boro Tower in Northern Virginia, which is situated inside a 15-acre mixed-use development that's 80% leased.

A new report from CommercialEdge notes that investor interest in quality assets has led to a widening spread in average sale prices across asset classes since the pandemic dawned in 2020. Class A buildings, on average, cost $50 more per square foot (15%) in the fourth quarter of 2021 than 2019, while Class B buildings have only increased $6 per foot (6%) over that time. Atlanta's 725 Ponce deal is a case in point: last year the building sold for $300.2 million, an average of $807 per foot, the highest average price per foot CommercialEdge has ever recorded in the market.