Crescent Real Estate Signs New, Renewal and Expansion Leases in Dallas.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) ) is pleased to announce 62,161 SF of new, renewal and expansion commercial office leases at its Dallas office properties. At Palisades Palisades, cliffs along the west bank of the Hudson River, NE N.J. and SE N.Y., extending from N of Jersey City, N.J., to the vicinity of Piermont, N.Y., with a general altitude of from 350 ft to 550 ft (107–168 m). Central II, Great American Insurance Company renewed its current lease of 14,806 square feet and expanded an additional 14,755 square feet, bringing its total leased space to 29,561 square feet. Bill Rudd, a Crescent senior leasing manager, represented Crescent in the transaction, while Steve Jarvie of Staubach Company represented Great American. Palisades II, a property of Crescent Real Estate Funding VIII, L.P., is a 240,935 square-foot Class A office property located in Richardson, TX, and currently is leased 95.3 percent. At Stanford Corporate Centre, EnCana Oil & Gas USA (NYSE: ECA ECA See: Export Credit Agency ) expanded 15,404 square feet, bringing its total leased space to 100,607 square feet. Virginia Mulkey, leasing director, for Crescent, represented Crescent in the transaction, while Greg Biggs of Studley, Inc. represented EnCana. Stanford Corporate Centre, a property of Crescent Real Estate Funding XII, L.P., is a 274,684 square-foot Class A office property located in the Quorum / Bent Tree submarket of Dallas, TX. This expansion brings the office property to 94.1 percent leased. At Spectrum Center, a valuable customer renewed its current lease of 17,196 square feet. Virginia Mulkey, leasing director for Crescent, represented Crescent in the transaction, while Mike Wyatt and Chris Epp of Cushman & Wakefield represented the customer. Spectrum Center, a property of Crescent Spectrum Center, L.P., is a 598,250 square-foot Class A office property located in the Quorum / Bent Tree submarket of Dallas, TX, and currently is leased 92.8 percent. 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 on the leasing transactions, "These leases demonstrate the fact that the Dallas economy continues to recover, which is having a notable impact on the office market. In particular, the leases confirm the strong and dynamic improvements in the North Dallas North Dallas is an expansive area of numerous communities and neighborhoods in Dallas, Texas, (USA). It spans portions of three counties: Collin, Dallas, and Denton, and has strong social ties to two enclaves of Dallas (University Park and Highland Park) and a near-enclave submarkets as rental rates are steadily climbing at our properties. Crescent's Dallas office portfolio currently is leased 90.5 percent as a result of the activity." ABOUT CRESCENT 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 71 premier office buildings totaling 28 million square feet located in select markets across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with major concentrations in Dallas, Houston, Austin, Denver, Miami, and Las Vegas. Crescent also strategically invests in resort-residential developments in locations such as Scottsdale, AZ, Vail Valley, CO, and Lake Tahoe, CA; in destination resorts such as Fairmont Sonoma Mission Inn[R] in Sonoma, CA; and in the wellness lifestyle leader, Canyon Ranch[R]. For more information, visit Crescent's Web site at www.crescent.com. |
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