UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
1. Name and Address of Reporting Person
HEXALON REAL ESTATE, INC.
950 EAST PACES FERRY RD. #2275
ATLANTA, GA 30326-1119
USA
2. Date of Event Requiring Statement (Month/Day/Year)
11/07/96
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
CORNERSTONE PROPERTIES, INC.
NONE
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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<S> <C> <C> <C>
8% CUMULATIVE CONVERTIBLE PREFERRED STOCK, |458, 621(1) |D | |
SERIES A | | | |
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<CAPTION>
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
(1) The Convertible Preferred Stock is convertible, at a rate of ten shares of
Common Stock per share of Preferred Stock, subject to adjustment for
dividends paid on the Common Stock, stock splits, reclassifications, or
additional issuance of Common Stock or warrants.
SIGNATURE OF REPORTING PERSON
HEXALON REAL ESTATE, INC.
by James W. Smith, its Vice President
DATE
11/26/96
