BOSTON—Locally-based Boston Properties, Inc. reports it has reached a binding purchase and sales agreement to sell its 45% interest in 601 Lexington Ave. in New York City and the Atlantic Wharf Office Building and 100 Federal St. in Boston to affiliates of Norges Bank Investment Management for a gross price of approximately $1.5 billion.

SAN DIEGO—Lionstone Investments, working for an institutional clients, completed the acquisition of the San Diego Tech Center campus which has room for expansion.

REDWOOD CITY, CA—The company started by two childhood friends while at college, now a tech powerhouse, signs a 12-year lease for Crossing/900, the 334,000-square-foot two-building office project currently under construction here.

SAN FRANCISCO—According to C&W regional director of research, who conducted the REIS San Francisco Roundtable breakfast Wednesday, an improving economy is the main reason why rates are expected to push higher in 2015.