One of Oakland County’s most active landlords has scooped up the big Troy office complex long home to Flagstar Bank’s mortgage operations, putting a familiar suburban landmark under new local control. The sale shifts ownership of a well-known corporate address to a hometown investor, although the buyer is staying quiet for now about what comes next for the building.
Deal details
According to Crain's Detroit Business, the buyer is Jonna Companies, a family-owned Oakland County landlord, and the deal was announced on June 24, 2026. The transaction involves the office property long tied to Flagstar’s mortgage operations, and the price tag has not been made public. Local brokers told the outlet the purchase stands out as a notable bet on suburban office space at a time when some investors are heading the other way.
The property and address
The site includes Flagstar’s Troy home-loan operations at 5151 Corporate Drive, as listed in Flagstar’s loan-center directory. That address has served as a local hub for the bank’s lending work for years. Public reports have not spelled out what the future tenant mix might look like, and there has been no formal word on whether Flagstar will stay put or scale back. Any decisions on tenancy or potential renovations are expected to surface in the coming weeks.
About the buyer
Jonna Companies is a long-standing southeast Michigan developer and property manager, with construction and management affiliates active across Oakland County and nearby suburbs, according to company listings and local business directories. Those listings identify related entities such as Jonna Construction and Jonna Realty Ventures, signaling experience in repositioning and running office and retail properties. The Flagstar building adds a high-profile suburban office to a portfolio that, by local accounts, leans on long-term ownership and hands-on management.
Why it matters for Troy
The sale hands a key suburban office asset to a local owner at a time when landlords are rethinking how to use space outside traditional downtown cores. For tenants and brokers in Troy, having a landlord nearby can translate into faster decisions on upgrades, leasing deals or reconfiguring space for hybrid work, medical users or tech firms. Watch for new leases, renovation permits and any announcements that reveal how Jonna plans to put its stamp on the building.
