CHICAGO - Mayor Rahm Emanuel led Tuesday's groundbreaking ceremonies on River Point, a development that will include a 45-story office tower and a 1.5-acre public park in downtown Chicago's West Loop.

PHOENIX-Making its first investment, Hines US Office Value Added Venture III pays $81 million to acquire the class A office building from GLL Real Estate Partners.

HOUSTON-The University General Health System subsidiary occupies an entire floor of 7324 Southwest Fwy. Additional southwest commercial real estate news follows.

The Lone Star State has weathered the Great Recession and financial meltdown better than most others, and its job growth prospects are bright. As a result, Texas is at the top of many developers' and investors' wish lists. But then there are the state's commercial real estate stalwarts; the men and women who have been through the booms and busts of the Texas economy for the past several decades. These household names have all helped to shape the local commercial real estate market into what it is today.