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The Demise of Regional Malls

Houston Retail

Opportunities for huge retail projects are becoming more limited today (like finding a Rainbow Loom for your kid before Christmas), says Howard Hughes Corp development SVP Mark Bulmash (center) at the third annual ICSC Texas Retail Forecast in Dallas yesterday. That's largely because many of the smaller retail centers are chewing into the regional mall business that used to dominate the market. It hasn't slowed the Howard Hughes Corp in The Woodlands. The latest project (Hughes Landing) will feature 1.5M SF of office buildings (with Exxon consolidating its world HQ in 500k SF there), a new hotel, a new fitness center, 800 new multifamily units, as well as a number of restaurants. There’s also a Whole Foods recently inked for the area.