Younan Properties Leases 1.2 MSF Through Q3
LOS ANGELES, November 4, 2010 —Younan Properties, Inc., a fully‐integrated national real estate owner and manager of Class A office properties in five major U.S. office markets announced that it leased more than 1.2 million square feet of office space throughout its portfolio through the end of the third quarter. The company also announced it achieved an 80% retention ratio of existing tenants for 2010.
Zaya S. Younan, Chairman and CEO explained that the portfolio‐wide increase in leasing and the high rate of retention of current tenants can be traced to the Company's new leasing platform. "We are seeing substantial improvement in the pace and quality of our leasing activity in every market. Younan's leasing platform has been strengthened with the addition of experienced leasing managers in Dallas, Houston and Chicago who are driving our leasing and marketing strategies with our leasing brokers. We have seen significant traction in our leasing through the third quarter. We are on track to deliver a strong fourth quarter as well as building a pipeline of deals for 2011."
Younan added, "The company's retention ratio ranks among the highest when compared to other Class A office owners and underscores the quality of our assets, our strategic market locations and our ability to provide tenant solutions and fund tenant improvements."
About Younan Properties
Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of Class "A" office properties located in five major U.S. office markets, including Dallas‐Fort Worth, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 35 office properties with approximately 11.0 million square feet of rentable space. Younan Properties is a fullservice real estate company with in‐house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing.
Contact: Denise Davis