CHICAGO-The Bermuda-based conglomerate whose top executives have been accused of looting $30 million from the company hires Sheldon Good & Co. and Trammell Crow Co. to shed nearly 800,000 sf of industrial assets in Michigan, New York, North Carolina and Pennsylvania.

ARLINGTON HEIGHTS, IL-Houlihan Lokey Howard & Zukin is hired by Arlington Hospitality, Inc. to review its operations and help land new debt or equity. The largest AmeriHost franchisee is attempting to develop new properties by selling off older assets.

LAS VEGAS-The biggest player in the casino industry will have 56 casinos totaling 3.7 million sf, with more than 40,000 hotel rooms. The deal is not expected to close until the middle of next year.

CHICAGO-City officials continue their five-year quest to acquire the Diplomat at 5900 N. Lincoln Ave. and Patio at 6250 N. Lincoln Ave. as part of their effort to redevelop the Peterson Woods neighborhoods, but owners want to share in the economic growth.

CHICAGO-Heitman Value Partners Fund pays $91 million for a majority share in 21 facilities in 16 markets. General Electric unit Storage USA retains a 20% interest.

ITASCA, IL-Occupancy at One Pierce Place in the Chancellory office complex is 86% with First Midwest Bancorp, Inc. signing a 50,000-sf deal and US Cellular converting a sublease into a 42,100-sf direct lease.

CHICAGO-A 182,900-sf movie and television production studio with five sound stages will be built by Central City Studios on an 11-acre site in North Lawndale with $10.5 million in tax increment financing playing a supporting role.

CHICAGO-The northern third of the 36 acres at 35th and State streets will get 311 units and 16,000 sf of retail space, which is an $87-million piece of the redevelopment of the former Stateway Gardens housing project.