LOS ANGELES, January 12, 2009 —Younan Properties, Inc., one of the nation's fastest-growing, privately held real estate investment and asset management firms is returning to southern California as an owner and investor. The nationally recognized Class A office owner announced it has closed on the purchase of Hillside Corporate Center, located in the thriving suburban city of Thousand Oaks, Calif.
Younan represented itself in the transaction. Mark Perry and Carlene O'Neill of CB Richard Ellis represented the seller, GE/Arden Realty.
Zaya S. Younan, Chairman and Chief Executive Officer of Younan Properties commented on the transaction. "This is an excellent property with attractive upside potential because of its below market rents and its location in the vibrant, high technology Conejo Valley submarket." Younan continued, "This building, one of several in the GE/Arden Realty portfolio, was offered with extraordinarily favorable terms, especially for an asset located off the important 101 Ventura Freeway business corridor."
The two-story, 62,356-square foot office building was built in 1998 and is 100% leased to a desirable roster of professional tenants. Hillside Corporate Center sits on 6.25 acres of land on a plateau that offers exceptional views of the Conejo Valley.
Headquartered in Los Angeles, Younan Properties specializes in acquiring Class A office properties in high-growth U.S. markets. Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan is recognized for turning around undervalued assets and maximizing the value of stabilized assets. Younan has accumulated nearly 12 million square feet of Class A office buildings in California, Texas, Illinois and Arizona.
Contact Younan at www.younanproperties.com.