Globest Sectors

SOUTHFIELD, MI-The Chicago-based real estate firm focusing exclusively on the business space user moves to the center of Southeast Michigan market activity. The office previously had been located in Bingham Farms, MI.

ORLANDO-The Atlanta developer has won an OK from Orange County's planning committee but still has to satisfy residents demands for more space between the proposed single-story, 250,000-sf commercial project and nearby homes.

SAN DIEGO-The CEO of retail REIT Pan Pacific Retail Properties is among six people honored as Ernst & Young's prestigious "Entrepreneur of the Year" this week in San Diego.

BLOOMFIELD HILLS, MI-Three apartment complexes in Ypsilanti, MI; Woodhaven, MI and Detroit change hands for a total of $6.8 million, an average of $22,150 per unit, in separate transactions.

NORTHBOROUGH, MA-The I-290 Industrial Park, currently owned by the Ohio Teachers Retirement System, is reportedly being purchased by the RREEF Funds. The broker, manager and seller of investment grade real estate is said to be acting on behalf of institutional investors.

DALLAS-A $350-million credit facility is the push that's been needed for Meditrust Cos. to declare success for a turnaround plan. The freshly closed deal and moniker change to La Quinta Properties complete the health-care exit plan and lodging industry refocus.

ORANGE COUNTY, CA-Private developer Tim Strader Sr. and his partners win the planning commission's approval to build a 10-story office tower in Newport Beach. Under a new law, the project now also needs to win a public vote.

LONDON-The UK's key regional office markets are now increasingly short of prime space. With little new space coming to market over the next year, rents are expected to rise, according to a DTZ report.