FORT WORTH-It's not a binding decision, but Crescent shareholders OK the SEIU's proposal for annual elections for trust managers instead of staggered three-year terms. The SEIU challenge is one of several pending against commercial real estate REITs.

SAN FRANCISCO-Virtual Premise, a real estate software maker that has made a name for itself in the corporate sector, will take ASI's popular Lotus Notes-based applications for the commercial real estate market and convert them into a Web-based product.

SAN DIEGO-Yeatts Properties LLC acquires the industrial property from David Altomare with plans to occupy the facility. Located at 7838 Wilkerson Ct., the building encompasses 12,860 sf.

CICERO, IL-Grubb & Ellis reports sales of warehouses less than 100,000 sf are off 40% from last year. However, International Storage Properties and Commercial Carpet Consultants acquire nearly 100,000 sf in separate deals topping $4 million.