Crescent and Forest Oil Corporation Ink Denver's Largest Office Lease of the Year; Forest Oil Moving to Crescent's 707 17th Street Building Downtown.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 the signing of a new lease for 100,633 square feet with Forest Oil Corporation (NYSE:FST See flat screen. ), one of the largest independent exploration and production companies in the U.S., at 707 17th Street building in downtown Denver. John Zogg, Senior Vice President Asset Management and Leasing, and Bruce Basham, Vice President Leasing, both with Crescent, represented the owner, Crescent 707 17th Street, L.L.C. Tim Harrington, Victor Frandsen and Alan Polacsek, of Grubb & Ellis represented Forest Oil Corporation. The Forest Oil lease marks the largest single office lease signed in Denver this year. John Zogg, of Crescent, commented, "It is not often that such a prominent company like Forest Oil enters the market looking for a new home, so we feel very fortunate to have partnered with them in this long-term relationship." The 707 17th Street office building is 550,805 square feet and is located adjacent to Crescent's Johns Manville Plaza building. It is currently 90% leased, up from 70% at September 30, 2004. About Forest Oil Company Forest Oil Corporation is engaged in the acquisition, exploration, development, and production of natural gas and liquids in North America and selected international locations. Forest's principal reserves and producing properties are located in the United States in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , Texas, Louisiana, Oklahoma, Utah, Wyoming and Alaska, and in Canada. Forest's common stock trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol FST. For more information about Forest, please visit their website at www.forestoil.com. About Crescent Celebrating its tenth year, Crescent Real Estate Equities Company (NYSE:CEI) is one of the largest publicly held real estate investment trusts in the nation. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of more than 70 premier office buildings totaling more than 29 million square feet primarily located in the Southwestern United States, with major concentrations in Dallas, Houston, Austin, Denver, Miami and Las Vegas. In addition, Crescent has investments in world-class resorts and spas and upscale residential developments. For more information, visit the company's website at http://www.crescent.com. |
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