Excel spreasheet slow and freezing, is it VLOOKUP?

We have Excel document which is pretty basic except having few VLOOKUP formulas. Those VLOOKUP formulas get the data (mainly name, address, email, etc.) from the other workbooks within the same spreadsheet, when we enter the specific number which is on the same workbook as the data (i.e. we enter 362 and VLOOKUP populates it all for us). We do not add that many new entries to the data workbook. The other workbook calculates rent for us on the monthly and annual basis automatically. Since November, the spreadsheet grew in size 3 times the original size, but we added minimal amount of data there (it is about 2Mb now). In addition to that, Excel is freezing a lot when opening and using it spreadsheet. We checked that there are no objects or formulas or links which should not be there. We suspect that the issue may be with VLOOKUP formula, here is one of them:
=VLOOKUP(C22,'Tenants and Property Addresses'!$A$2:$E$220,3,0)
Any ideas what might be wrong with that spreadsheet?
Regards
Tom
Tom SkowyrskiAsked:
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Mitul PrajapatiIT SupervisorCommented:
Update the Office 365. I had the same issue of freezing excel and update has sort out the issue for me.

Go to File --> Account --> update office --> update now...    Hopefully, this may work for you.
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Matt NicholasBusiness AnalystCommented:
Hi Tom

This is unusual, however I would highly recommend that you utilise a 'single' data table. Best to do this by:

Convert each of your respective data sheets into a table (Insert Tab > Table)
Using Power Query (google it, you will love it), merge your tables together into a single source
Obtain your data from a single table with no multi sheet lookups anymore!

Best of luck!

M
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Tom SkowyrskiAuthor Commented:
Updated Office 2016 and It seems to be better. However, it came up with the message that there are links to external sources. How do I find them within spreadsheet?
Matt: we have all of the data within one spreadsheet but on different workbooks. At least that is what I thought and was told. Except that warning message regarding external links that I mentioned above.
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Tom SkowyrskiAuthor Commented:
That helped a lot. Will investigate external links now.
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