BLOOMINGTON, MN-Shopping center owners expect lower property tax bills by 6% to 7% this year. However, the average for those bills paid in the Twin Cities is up to three times as more than comparable mid-sized markets.

FORT WORTH-Crescent Real Estate Equities gets a leading nationwide award for office property management while Billingsley's Austin Ranch, north of Dallas, is accorded best garden community in a primary market.

NEW YORK CITY-Kramont, a Plymouth Meeting, PA-based shopping center REIT, buys the supermarket-anchored center. The asset is strategically located near four other Kramont-owned centers, allowing for streamlined management at the new property.

HOUSTON-This morning, Lynxs Group and CB Richard Ellis will break ground on a 170,000-sf cargo facility, the first of four sites designated as East Side Cargo City. It is part of a $2-billion expansion at the George Bush Intercontinental Airport.