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We received this news release today: --:-- Crescent Sells 5 Houston Center Record Sale Realizes Joint Venture Promoted Interest FORT WORTH, Texas--(BUSINESS WIRE)--Dec. 21, 2005--Crescent Real Estate Equities Company (NYSE:CEI) announced today that it has sold 5 Houston Center on behalf of Crescent 5 Houston Center, L.P., the joint venture which owns the office property. The office property was sold for $166 million, or $286 per square foot, resulting in a merchant building gain to Crescent of approximately $25 million, including a promoted interest earned of approximately $13 million. John C. Goff, Crescent's vice-chairman and chief executive officer, commented on the sale, "We are very pleased with the sale of 5 Houston Center and realizing our first promoted interest in our office joint venture program. When we modernized our office business and initiated our office joint venture strategy, we told the market that this program would increase our operating return on equity by 300 to 600 basis points, as well as generate significant promoted interest income. The sale of 5 Houston Center produced an overall gain of approximately $25 million to Crescent, including an approximate $13 million promoted interest. The sale was at $286 per square foot, a record for Houston." Mr. Goff continued, "We had estimated the value of the promoted interest for our existing joint ventures on our third quarter 2005 earnings conference call to be in the range of $90 million to $100 million. We expect to continue harvesting these promoted interest gains for our shareholders in the future." Crescent completed the development of 5 Houston Center in a 75%/25% joint venture with an affiliate of JPMorgan Asset Management in 2002. Crescent will continue to manage the property for the new owner, Wells Real Estate Investment Trust II, Inc. 5 Houston Center is currently 95.5% occupied. --:-- Here's some pictures of the building:

I think this is starting to be an interesting trend downtown. 1301 McKinney recently completed a similar project in one part of the building and they had just closed off another part and I suspect they're going to do the same thing. There are a number of buildings aorund town in which this would improve the look of their buildings. Besides, it'll give the smokers a place to stand in the shade.

The Link! I think if it could be better integrated into the Houston Center Mall, that entire area could be a "Point of interest" to business travelers.

Yep yep. Render spotted even, after a bit of Googling.

I hate to do this again, but this is the only way I seem to get a responce For 2 Houston Center (on HAI) there are 2 photos of 1 Houston Center. They should be on the 1 Houston Center page, not 2 Houston Center!