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The Woodlands office submarket slowed by pandemic during Q3 2020.

The Woodlands office market posted negative net absorption of 130,960 SF in the third quarter, pushing the year-to-date 2020 total net absorption to negative 915,333 SF. The majority of the year-to-date negative absorption can be attributed to Occidental Petroleum vacating 587,000 SF in The Woodlands Towers at The Waterway in Q2, as anticipated when The Howard Hughes Corporation acquired The Woodlands Towers from Occidental.

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