WASHINGTON, DC-After 14 years of building, the fifth and final phase of Union Center Plaza gets under way with Centex Construction Co. starting work on the 363,000-sf project. Developer Greenebaum and Rose Associates is spending $30 million on the 12-story office structure.

DENVER-Restaurants that cost $1.7 million to develop but generate a 36% cash-on-cash return is one potential attraction shares of the chain will offer to investors. The IPO will help expansion to 850 stores.

BRIDGEWATER, NJ-Enzon Inc. will keep its R&D operations in nearby Piscataway, NJ while relocating its administrative functions to a Schenkman/Kushner building here.

LONDON-The AIM-listed property developer and trader Halladale Group in a joint venture with Citigroup Alternative Investments has bought a mainly retail portfolio from Henderson Global Investors and the United Bank of Kuwait's Opportunity Fund.