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“The growth of e-commerce has triggered a permanent, structural change in demand for these properties,” says Adam Mullen at CBRE.

Food and beverage concepts and retailtainment are among the growth areas in both new development and redevelopment.

There is significant upside and the potential to increase asking rents, says Transwestern broker Robin Williams.

Although the Galleria is known for its smaller deal size relative to CBD occupiers, recent long-term commitments by several large tenants are evidence that the submarket is still capable of attracting large users.

Pinnacle Tower checked the boxes on the amenities Guidestone employees wanted: secured underground parking, nearby dining and on-site fitness center, combined with its cost savings.

However, 2017's 7% year-over-year decline in sales volume was met by a 7.1% increase in commercial property values, says Real Capital Analytics.

Lisa Davis brings extensive experience executing large-scale affordable housing and redevelopment projects at both for-profits and nonprofits to her new role.

CBRE reports last year was a strong year for office leasing in Manhattan, with the FIRE sector leading the way.