In its fourth consecutive quarter with occupancy loss, the District recorded 177,000 sq. ft. of negative absorption in Q3 2020, bringing year-to-date contraction to 779,000 sq. ft. Vacancy rose to 15.4%, up 150 bps from the end of 2019.
Despite headwinds, the tech sector remains a bright spot in the market, with 51,000 sq. ft. of occupancy growth in Q3 2020 and year-to-date net growth of 100,000 sq. ft.