[tag]Duke Energy[/tag] said it is in discussions to take on a partner to expand [tag]Crescent Resources[/tag], its [tag]real estate development business[/tag]. The Duke Energy ([tag]NYSE:DUK[/tag]) board of directors has authorized management to explore the creation of a joint venture with an undisclosed potential partner, a release stated.

The current Crescent team would continue to operate the company, which would participate in each of the sectors of real estate development in which it is now involved, the release said. Crescent, known for its [tag]Corporate Center Three[/tag] at[tag] International Plaza[/tag] in [tag]Tampa[/tag], did not develop any property in the Bay area during 2005 but currently has 20 employees in the Bay area and 2.4 million square feet planned, according to the latest [tag]Tampa Bay Business Journal[/tag] research.

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