Crescent Real Estate Signs New, Renewal and Expansion Leases in Dallas

Crescent Real Estate Equities Company (NYSE: CEI) is pleased to announce 62,161 SF of new, renewal and expansion commercial office leases at its Dallas office properties. At Palisades 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) 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, 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 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 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® in Sonoma, CA; and in the wellness lifestyle leader, Canyon Ranch®. For more information, visit Crescent’s Web site at www.crescent.com.