BIRMINGHAM, AL-Colonial Properties Trust, a real estate investment trust based in Birmingham, has sold its stake in two shopping centers.

EDEN PRAIRIE, MN-UnitedHealth Group Inc. in Minnetonka has sold the former ADC Telecommunications Inc. headquarters in Eden Prairie for $50 million.

BALTIMORE-The Bozzuto Group has started construction on Union Wharf, a residential and retail project along the Fells Point waterfront in Baltimore.

GLEN BURNIE, MD-A division of Chicago-based General Growth Properties has purchased the former Boscov's location at Marley Station Mall.

CHICAGO-Sterling Bay Cos. of Chicago is planning to partner with Heitman LLC of Chicago to redevelop a West Loop office structure into a new headquarters for the meat business of Sara Lee Corp.

ORLANDO-A real estate investment management firm based in Chicago has paid more than $84 million for an off-campus student housing complex situated across from the main campus of the University of Central Florida in east Orlando.

PARIS-Allianz Real Estate has purchased two office buildings comprising approximately 355,209 square feet of office space and 825 parking spaces in Paris area.

NEW YORK CITY-Frozen yogurt chain 16 Handles is opening an outpost in Chelsea in March.