GRAND RAPIDS, MI-A subsidiary of Jack Loeks Theaters plans to create an entertainment park with retail, an IMAX theater and office space on a 40-acre site at Knapp and the East Beltline.

ANN ARBOR, MI- Captec Net Lease Realty hires UBS Warburg to advise on possible sale of the company, which has a portfolio of 252 freestanding restaurant, retail and entertainment properties.

LIVONIA,MI-New software will help commercial real estate mortgage lenders and clients get their job done easier.

DETROIT-More than $9 million awarded from the core communities fund will help seven development projects in six cities, two of them here. One of the largest will help develop the 2.2-million-sf I-94 Industrial Park.

DETROIT-The company president waits to hear from a union before deciding whether to send manufacturing operations out of the country. But the company will keep its headquarters and other operations based in Michigan.

STERLING HEIGHTS, MI-Cypress Senior Living hires Milford,MI-based builder to create 222-unit Sterling Heights complex. It should be completed next year.

TROY, MI-Construction begins on a retail project that is one of state's highest priorities under its brownfield redevelopment program. Grand/Sakwa of Farmington Hills, MI is building the project.

DETROIT-CBL and Associates Properties Inc. of Chattanooga, TN buys malls in Saginaw, MI and Midland, MI, which have a combined 1.3 million sf, from Jacobs Group in a $1.3-billion package of 23 malls and strip properties.