Crescent Announces Renewal and Expansion at Greenway Plaza.FORT WORTH, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. -- Crescent Real Estate Equities Company Crescent Real Estate Equities Co. (NYSE: CEI) is a Fort Worth, Texas-based real estate investor with holdings mainly in office and hotel properties, including several landmark buildings in the southern United States. (NYSE NYSE See: New York Stock Exchange :CEI CEI Competitive Enterprise Institute CEI Conferenza Episcopale Italiana (Italian bishop conference) CEI Central European Initiative CEI Comitato Elettrotecnico Italiano (Italian Electrotechnical Committee) ) announced today that Occidental Oil and Gas Corporation, a subsidiary of Los Angeles-based Occidental Petroleum Corporation (NYSE:OXY), has renewed and expanded its office lease in Greenway Plaza for a total of 383,000 square feet. Occidental Petroleum Corporation is a world leader in oil and gas exploration and production and a major North American chemical manufacturer. The company has approximately 8,000 employees worldwide. Charles Gordon and Lance McCarthy of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. represented Occidental Oil and Gas Corporation in this transaction. Denny Alberts, Crescent's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , commented, "We are pleased to retain Occidental, who is one of our most valued customers. Our outlook for Houston remains optimistic, and we expect to see companies not only renewing, but also expanding, as they continue to reap the benefits of an improving economy." About the Company Crescent Real Estate Equities Company (NYSE:CEI) is a real estate investment trust headquartered in Fort Worth, Texas. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of 75 premier office buildings totaling 31 million square feet located in select markets across the United States, with major concentrations in Dallas, Houston, Austin, Denver, Miami and Las Vegas. Crescent also makes strategic investments in resort residential development, as well as destination resorts, including Canyon Ranch(R). For more information, visit the Company's website at www.crescent.com. |
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