American Ventures Realty, a privately held company based in Coral Gables, FL, has bought the 21-story Three Riverway office tower from J.P. Morgan Investment Management for a reported $51 million. That adds up to $130 per sf. The 396,000-sf building represents one of this year's top-dollar sales in the city.

Falcon Real Estate bought the six-story Cabot Building in the Enclave Business Park in west Houston from Dienna Nelson Augustine Co. for a reported $23.7 million, or $160 per sf. - one of the highest per-sf prices paid this year for a suburban office building. The office facility had been built last year. The transactions may be signaling a flurry of year-end activity in the office tower market.