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Traditional retail is far from dead, according to four specialty concepts that previously were only online or online-wholesale, which have leased space for first-ever physical brick-and-mortar locations in DFW and Houston.
Howard Hughes will execute a transformation plan led by new executive leadership, a $45 to $50 million annual reduction in overhead expenses, the sale of $2 billion of non-core assets and a headquarters move to The Woodlands.
"The market in the US is fairly developed and many of those players are focusing on just sub-asset categories such as car dealerships, casinos or gas stations."
CBRE in its third quarter office report states that new office development is now forecast to be just below 2.5 million square feet by the end of 2020.