ANN ARBOR, MI-The REIT wants the return of white proxy cards to approve a merger with Commercial Net Lease Realty, saying claims against the merger are only a selfish attempt by a New York stockholder.
BLOOMFIELD HILLS, MI-The mega-mall REIT enters into new mortgages and credit facilities to better position its bottom line. Taubman Centers' average annualized rent rises 3.4% to $40.92 per sf.
NORTHVILLE TOWNSHIP, MI-The high-tech facility loses its second tenant to bankruptcy, prompting Colliers International to look for another new research and development company to take the 108,000-sf building.
DETROIT-Construction management firm Harley Ellis will help with 140-facility St. John Health System's budgeting, planning and building wishes through 2003. Health care is among Harley Ellis' areas of expertise.
SOUTHFIELD, MI-The 356-unit Riverstone Apartments here, sold for an undisclosed price, as well as the 216-unit Sawmill Apartments in Indianapolis purchased for $4.7 million are under new ownership.
DETROIT-Almost $100 million in Empowerment Zone money is not being used to help rebuild the city. However, the new leader of the Empowerment Zone Development Corp promises more effort in the 18 blighted square miles.
PONTIAC, MI-The 130,00-sf facility to be built on the former site of a Quality Inn Hotel will provide Pontiac residents and others an opportunity to obtain needed, affordable health care, according to lameduck Mayor Walter Moore.
DETROIT-Michigan Governor John Engler joins former Detroit Mayor Dennis Archer in attempting to sell Northville property to balance the state budget. Detroit has 900 acres that it may try to sell for $31.5 million.