Exhibit 3
Net Absorption and Vacancy, 2019 to 2025
The Central and West Loop, office buildings of 100,000 square feet and over: net absorption by year, and year-end vacancy.
Space taken upSpace given backYear-end vacancy
Year-end vacancy
Net absorption, million sf
+10−1−2−3−4−0.6
+0.6
−3.8
−2.0
−1.9
−1.2
−2.0
2019202020212022202320242025
Source: CoStar, quarterly office analytics, Central and West Loop office buildings of 100,000 sf and over, October 15, 2026.
Tenants gave back space in every year from 2021 to 2025, a net 10.8 million square feet, and year-end vacancy rose from 11.9% in 2019 to 23.3% in 2025.
Net Absorption and Vacancy, 2019 to 2025. The Central and West Loop, office buildings of 100,000 square feet and over: net absorption by year, and year-end vacancy.
| Year | Net absorption, million sf | Year-end vacancy |
|---|
| 2019 | −0.6 | 11.9% |
| 2020 | +0.6 | 12.6% |
| 2021 | −3.8 | 15.9% |
| 2022 | −2.0 | 19.0% |
| 2023 | −1.9 | 20.7% |
| 2024 | −1.2 | 21.8% |
| 2025 | −2.0 | 23.3% |
Horwath HTL — The New Floor 2026