HOUSTON–Cushman & Wakefield has arranged the sale of a 58,000-square-foot industrial property at 4909 Fulton St. in Houston.

AUSTIN--Cielo Property Group is set to begin a major renovation of a three-story warehouse at 220 S. Congress Ave. in Austin, an unusual 25,000-square-foot building that the group plans to transform into a modern, multi-tenant space suitable for creative office, retail and restaurant users.

LAGUNA BEACH, CA—Strategic Hotels & Resorts, Inc. has acquired the 250-room resort overlooking the Pacific.

BOSTON—Despite a drop in leasing velocity in 2014, the office vacancy rate for the Boston region fell below its pre-recession levels last year, according to a report released by brokerage firm Savills Studley.