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Michigan Moguls

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Watch out Dan Gilbert! You may have competition in the race to buy up Detroit buildings. In the last three years Florida investor Emre Uralli has purchased the former Detroit Free Press headquarters building and the David Stott Building. Two weeks ago, he put in an offer to buy the Penobscot Building. Says the mogul, "These are buildings that were built in the 1920s, and I'm buying them for less than what it cost to build them at that time in history," he said. "There is no better value anywhere in the world. And that's why I'm here." [Crain's]