Article: DTE Energy finds buyer for Guardian; Part of larger plan to divest real estate.(firm divesting unneeded property)

Byline: Amy Lane, Robert Ankeny, Jennette Smith

DTE Energy Co. has found a buyer for the Guardian Building, the second major Detroit development that the company is negotiating to sell as part of a strategy to divest unneeded property.

Boston-based Boston Capital Institutional Advisors L.L.C. is the potential buyer, with the Detroit-based Sterling Group as local partner and manager, said Bill Kraemer, managing partner of Boston Capital. Gary Torgow is president and owner of The Sterling Group.

The Guardian is 17 percent occupied, with its biggest tenant the architectural and engineering firm SmithGroup. The Guardian Building had been the ...

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