SOUTHFIELD, MI-Ramco-Gershenson Properties Trust acquires 75% equity interest in 342,000-sf East Town Plaza near an I-90 interchange in Madison, WI. The REIT's purchase was made with preferred stock offering money.

SOUTHFIELD, MI-Ramco-Gershenson Properties Trust acquires 75% equity interest in 342,000-sf East Town Plaza near an I-90 interchange in Madison, WI. The REIT's purchase was made with preferred stock offering money.

ANN ARBOR, MI-This city's planning commission is considering a planned unit development and site plan approval for a 500,000-sf development that would include office, multifamily and

DETROIT-More than 16% of office space was empty at year end, reports Paragon Corporate Realty Services, with more than 500,000 sf of negative absorption during the year. Two years ago, the market saw 1.3 million sf of positive absorption.

BLOOMFIELD HILLS, MI-Taubman Centers decides the time is right to replace floating rate financing on International Plaza in Tampa, FL and Sunvalley in Concord, CA with $327 million in fixed-rate mortgages. The REIT pulls out $6 million for itself in the Sunvalley deal.

TROY, MI-An acre next to Troy Commons is bought for $545,000. However, developer Stuart Frankel can't build beyond 140,000 sf of retail space on the now larger property due to a consent judgment.

WARREN, MI-An unidentified buyer who will occupy 17,000 sf of the 25,000-sf office building swings the deal with a 10-year note at 6.5% arranged by Farmington Hills, MI-based Lutz Capital Corp. The remaining 8,000 sf is leased for another three years.

DETROIT-Three plans for Tiger Stadium, which hosted its last baseball game in 1999, include potential use by minor league teams. The city is expected to cut the field of those who have submitted proposals by Jan. 27.