Earlier this month, CBRE announced plans to relocate its Dallas HQ from 2100 McKinney Ave. to the building next door that once housed its now-obsolete flexible workspace concept, Hana, in Dallas’ Klyde Warren Park.

According to CoStar News, CBRE will move into the space at 2121 N. Pearl St. in the coming months and will occupy 67,000 square feet in the building.

It was reported that CBRE had originally planned to build a new tower in Uptown Dallas, but plans remain on hold due to the current cost of undertaking planned projects.

“We still believe it’s one of the best office sites in America,” CBRE CEO Bob Sulentic told the Dallas Morning News. “And that site is going to get built. It’s a 700,000-square-foot office building, and it doesn’t make sense right now. But we still need to have a global headquarters.”

The new building was expected to be developed by Dallas-based Trammell Crow Co., CBRE’s U.S. development arm, and the project will be reconsidered when office market conditions are right, CBRE told CoStar News.

For now, CBRE’s Dallas advisory and Trammell Crow Co. employees will continue to work out of its existing office at 2100 McKinney Ave.

CBRE confirmed their global HQ will likely be housed at 2401 McKinney Ave. in the future, as construction of a new building will take several years once a decision is made to break ground.