TROY, MI-Flagstar Bank, the largest financial institution in Michigan, is expanding from its current Troy headquarters into three floors at the 745,000-square-foot Troy Officentre complex. The bank has its main office at 5151 Corporate Dr., and has agreed to lease 94,571 square feet at 320 E. Big Beaver Rd. about two miles to the south.

Glenn DesRosiers, SVP with Friedman Integrated Real Estate Solutions, represented the Officentre landlord, Ospry Management Co. LLC, in the transaction. He said in a statement that the new lease covers the entire second and third floor of the B building and the entire third floor of the C building. DesRosiers said Osprey leased more than 215,000 square feet of the complex in 2011. Osprey purchased the complex in 2006 for $57 million, when it was 80% occupied with tenants that included Bank of America. However, reports say the complex is now about 71% full with this Flagstar lease.

Marshall Soura, EVP and director of corporate services at the bank, said in the statement that the company has outgrown its headquarters. The company leases about 366,000 square feet at the Corporate Drive location, reports say.

Garret Keais with Signature Associates represented the bank. Flagstar operates 113 branches in Michigan, 29 home loan centers in 14 states and four commercial bank offices in Massachusetts, Connecticut and Rhode Island.

Troy, once the home of the Kmart headquarters, before the recession was the pinnacle of the Detroit-area office market. However, massive layoffs and automotive firm losses really hurt the city, which is now the fourth most vacant office market in the area, after Pontiac, Southfield and Detroit.

FARMINGTON HILLS, MI-Agree Realty Corp. has acquired a Wawa convenience store and fuel station in Baltimore, a Walgreens pharmacy in Fort Walton Beach, FL and a CVS pharmacy in Leawood, KS. The average remaining lease term for the three acquisitions is 15 years. The aggregate cost of the three acquisitions was approximately $10.3 million. The company assumed about $3.4 million of debt in conjunction with one of the acquisitions. The assumed debt matures in February 2020 and carries a 6.24% interest rate.

DETROIT-Cobo Center, the city’s convention center, has earned Green Venues Michigan Steward certification from the Michigan Energy Office. Green Venues Michigan encourages entertainment venues, convention centers, and similar facilities to implement environmental initiatives and cost-saving “green” practices to conserve energy, reduce water consumption, protect air quality, reduce waste, and participate in environmentally preferred purchasing.

Cobo Center has implemented several environmental initiatives at the facility, including monthly meetings about sustainability, a property-wide recycling effort, the purchase of recycled materials and energy-efficient building management equipment. “Organizing our Cobo Center Green operations around the Green Venues Michigan certification mandates, provided us efficiency in planning and implementing our cost effective waste stream diversion measures,” said Thom Connors, SMG regional vice president and general manager of Cobo Center, in a statement. “We are committed to environmental stewardship in our community, and happy to become the largest Green Venues Michigan facility in the state.”

GRAND RAPIDS, MI-Signature Associates has negotiated the lease of 20,064 square feet of Class A office space at 333 Bridge St. NW here. John Mundell represented the tenant, New York Life Insurance Co.

ROYAL OAK, MI-Mid-America Real Estate-Michigan Inc. recently arranged a 1,775-square-foot lease in the 14/Woodward Plaza at 14 Mile Road and Woodward Avenue. Tony Schmitt represented the landlord, Woodward 14 Associates and the tenant, the Big Salad in this transaction.

LISLE, IL-Steinco Corporate Real Estate Advisors assisted SSAB in expanding its space at 801 Warrenville Rd., an eight-story office building with 249,000 square feet here. The Swedish steel company is exercising its right of first offer and adding 10,000 square feet. The company, which makes high strength steel, moved to that location a year ago, taking 30,000 square feet for its North American headquarters. The firm previously had leased about 23,000 square feet on two floors at 650 Warrenville Rd.

SCHAUMBURG, IL-KBS Real Estate Investment Trust, based in Newport Beach, CA, has finalized two lease agreements for 32,207 square feet at its Woodfield Preserve Office Center complex here. KBS acquired the 647,216-square-foot property in 2007. Hitachi High Technologies America, a developer of electron microscopy solutions, renewed its 26,595-square-foot lease on the fifth floor of Woodfield Preserve I. Chad Freese and Victor Toft with CBRE in Chicago represented Hitachi in the transaction. Nippon Life Insurance of America, a subsidiary of Japan-based Nippon Life Insurance Co., signed a new lease for 5,612 square feet at Woodfield Preserve II. Nippon Life was represented by Dan O’Neill with NAI Hiffman and Tak O’Hara with White Cube. Mark Smith, Rob Graham and Allison Reynolds with CBRE’s Schaumburg’s office represented KBS in the two transactions.

NORTHBROOK, IL-Summit Design + Build LLC has completed a new 12,000-square-foot retail center known as Park Place at 1347 Shermer Rd., which is situated at the southwest corner of Shermer and Meadow Roads. The Equitable Group Inc. is the owner/developer for the project.

WHEELING, IL-Ellen Steinbrecher and CJ Kuehl, both principals with Lee & Associates of Illinois LLC represented National Louis University in its lease of 11,199 square feet of office space in the Capitol Commerce Center here. Jason Streepy with NAI Hiffman represented building ownership in the transaction.

ROMEOVILLE, IL-Distribution 2000 Inc., a third-party public warehouse and distribution firm offering food grade storage, has leased 236,000 square feet at 1165 Crossroads Parkway here. The new lease is a relocation and consolidation from two locations, with an increase in total square footage by 61,000 square feet. Sally Macoicz, a senior director with Cushman & Wakefield of Illinois Inc., represented the tenant in the five-year lease. Dan Leahy and Adam Roth with NAI Hiffman represented the landlord, TA Associates. The 471,500-square-foot industrial warehouse building was built in 2004.

EVANSTON, IL-Marcus & Millichap Real Estate Investment Services recently arranged the sale of Evanston Enterprise Center, a four-story office property here for $5 million. John Abuja and Stephen Lieberman, investment specialists, represented the seller, a limited liability company. The buyer, a private investor, was secured and represented by Abuja, Lieberman and Howard Wiese, investment specialists. The property is at 1840 Oak Ave., currently 95% occupied by 21 tenants including Northwestern University, Evanston Chamber of Commerce and Pepid LLC. The investment included non-recourse assumable financing with a $4 million remaining balance. The purchaser acquired the asset at an 81% LTV with standard reserves for tenant improvement allowances also required in the assumption.

ST. CHARLES, IL-Interstate Hotels & Resorts has entered into an agreement to manage the 473-room Pheasant Run Resort here. The hotel is on 250 acres in the scenic Fox River Valley. Accommodations range from courtyard rooms with expansive views to penthouse level suites and two-story whirlpool suites. The resort features a number of amenities, including Zanies Comedy Club, two theaters and five dining options, from casual to upscale, as well as more than 100,000 square feet of meeting space. Additionally, guests can enjoy Mario Tricoci Hair Salons & Day Spas and 36 holes of golf on two courses.

JOLIET, IL-LNC Asset Management represented the purchaser of an industrial facility at 2409 McDonough here. The 32,000-square-foot warehouse sits on approximately 6 acres and is near Interstate 80 and Interstate 55. The property had been marketed since July of 2007, with asking prices as high as $2.4 million, and closed at $1 million. The purchaser is a local recycling company that chose the property due to its location and affordable price per square foot. The purchaser was represented by Joseph Cima and John LeTourneau. The seller was represented by Coldwell Banker.

PALATINE, IL-HFF has closed the sale of the Gates of Deer Grove, a 204-unit, recently-renovated multi-housing community in this northwest Chicago suburb. The seller Laramar Group. Home Properties of New York Inc. purchased the complex free and clear of existing debt. The apartments are on 11.5 acres at 125 W. Dundee Rd. close to DeerPark Town Center and the Palatine Metra Station. Renovated in 2008, the 94 percent occupied property has one- and two-bedroom units averaging 897 square feet each. Residents have access to a clubhouse with movie theatre, fitness center, game room and business center as well as a swimming pool, laundry facilities and a dog park. The HFF investment sales team representing Laramar Group was led by executive managing director Matthew Lawton and managing directors Sean Fogarty and Marty O’Connell.

GREEN OAKS, IL-Bridge Development Partners LLC has acquired Green Oaks Business Center, a three-building, 461,943-square-foot industrial park at 13820-13950 Business Center Dr. in this north Chicago suburb from Highland Park, IL-based International Airport Centers. New York Life is Bridge’s capital partner on the deal. The center is on 25 acres along Route 176 just east of Interstate 94 and is currently nearly 70% leased to ITW Paslode, Neptun Lighting Inc., Office Concepts, and Advanced Packaging and Fulfillment Inc. Jeff Devine, Steve Disse, Jeffrey Kahan and Fred Regnery with Colliers International represented the seller in the transaction. Chicago-based Bridge has retained Colliers’ Jack Rosenberg, Regnery and Ned Frank to serve as leasing agents at Green Oaks. To date, Bridge has developed or acquired more than three million square feet of industrial and office buildings in the Chicago metropolitan market.

TINLEY PARK, IL-The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Walgreens property at 16675 S. Oak Park Ave. here for $3.4 million. Walgreens is the sole occupant of the 13,905-square-foot retail building that was developed in 1999. Randy Blankstein and Jimmy Goodman represented the seller, a Chicago trust, in the transaction. The buyer was a California-based 1031 exchange investor. Walgreens has eight years of lease term remaining on an original 20-year double net lease.

CINCINNATI-Mid-America Real Estate Corp.’s Net Lease Investment Group recently completed the sale of a double net leased, 2,958 square-foot freestanding AT&T Mobility building here. The buyer in a 1031 exchange was a private New York investor, who purchased the property for $1.5 million from a Cincinnati developer. According to Mid-America broker Mark Goldberg, whose firm was the exclusive representative for the seller, terms included two five-year renewal options, with almost 10 years remaining on the primary term. The AT&T building was constructed in 2008 and remodeled in 2010, and is situated on a 1.03-acre hard-corner outlot at 4465 Eastgate Blvd., off State Route 32, the primary east-west highway linking local residents to downtown Cincinnati. Goldberg and Tom Fritz with Mid-America, and Amy Holter with Anchor Associates represented the seller.

CRESTWOOD, MO-Dennis J. Matteuzzi purchased a 31,402-square-foot free-standing retail building at 9833 Watson Rd. here from Hanley Auto Body Inc. for $1.7 million. Gundaker Commercial Group Inc. represented the seller in the transaction.