DETROIT-Business accelerators bring in new firms to areas with financial assistance for new technology. The Michigan Economic Development Corp. awards $2.5 million to six SmartZones.

DETROIT-Bucking the sliding economy, Southeastern Michigan continues to see commercial real estate deals, from a 15,000-sf light assembly facility in Wixom, MI to four retail centers being redeveloped by Ramco-Gershenson Properties Trust.

BLOOMFIELD HILLS, MI-Two multifamily rental projects sell for $13 million each, but the Brookshires Apartments in Lansing fetches $112,931 per unit while Maplebrook Apartments outside Flint trades for $28,266 per unit.

BINGHAM FARMS, MI-Pine Ridge Plaza in Lawrence, KS trades for $55 per sf as Malan Realty Investors Inc. unloads the property to pay down debt. Meanwhile, a deal is in place to sell several Kmart-anchored properties.

DETROIT-The 400,000-sf historical property has three towers along the Detroit River. One broker tells GlobeSt.com the property could become an excellent mixed-use facility after a renovation.

DETROIT-ArvinMeritor promises to add 250 new jobs to the area with a new building on land used by Southwestern High School as athletic practice fields. It also will relocate offices from suburban Troy, MI.

DETROIT-Executive Capital Corp. sells the 224-unit, 16-year-old multifamily rental community to RPD Catalyst of Los Angeles, CA. CB Richard Ellis brokers in Detroit and Chicago handle the deal.

DETROIT-Plans for three hotel projects should be moved to the historic Fort-Shelby, Book Cadillac and the Statler, says Jay Juergensen, to create enough hotel rooms to lure the 2004 Democratic National Convention.