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Article: DTE Energy finds buyer for Guardian; Part of larger plan to divest real estate.(firm divesting unneeded property)
- Article from:
- Crain's Detroit Business
- Article date:
- August 4, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...