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Flagstar Bank Takes Three Floors at Troy Officentre

TROY, MI-The bank will lease almost 100,000 square feet in the 745,000-square-foot complex, in a city that plummeted as the top office market in Michigan. Plus more Midwest news.

By Robert Carr | Updated on January 08, 2012

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.

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