News and Events - 2010

pdfLOS ANGELES, December 8, 2010 —Younan Properties, Inc., one of the nation's largest privately‐held real estate investment and asset management companies announced that it has named Gregory Zack Vice President of Capital Markets. In this newly‐created position, Zack will bring more than four decades of experience in commercial real estate financing to assist with the company's capital market needs as it continues to execute its growth strategy and make acquisitions.

According to Zaya Younan, Chairman and CEO of Younan Properties, "As the company successfully grows its national platform, the requirement grows concurrently for in‐house expertise to handle the volume of transactions. Greg Zack has been a trusted consultant who has worked with us over the past decade. His experience and breadth of industry relationships is well recognized and will prove invaluable as we take advantage of current market conditions to actively seek new commercial office opportunities in our new and existing markets."

Zack commented that this new position provides a unique opportunity to leverage his background with his knowledge of Younan Properties. "I have had the opportunity to assist Younan Properties over the years in its financing requirements. My respect for Zaya Younan and the company is unmatched. Both have earned nationwide recognition for market leadership in real estate investment and asset management. I am looking forward to joining the team and helping accelerate the company's growth."

Zack brings more than four decades of experience in real estate debt and equity financing. Before joining Younan Properties, he was a Principal of ProMark Capital in Los Angeles. Prior to that, Zack served as Director of Real Estate Finance for Loeb Rhodes Commercial Realty; was Manager of Real Estate Joint Ventures for International Paper Realty; and was Vice President of Finance with Arlen Realty and Development, all located in New York City. A graduate of the University of Michigan in 1965, Zack earned his Juris Doctorate from Wayne State University School of Law in 1968.

About Younan Properties

Headquartered in Los Angeles, Younan Properties, Inc., a privately‐held real estate investment and management company, specializes in acquiring Class A office properties in high‐growth markets throughout the United States. Known for its detailed, hands‐on approach to improving operational efficiencies while maintaining top building standards for tenants, the company is recognized for its success in turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan has accumulated approximately 11 million square feet of well‐located Class A office buildings valued at more than $1.5 billion in key markets in California, Texas, Illinois and Arizona. www.younanproperties.com.

Contact: Denise Davis
818.703.9600 ext. 9705
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pdfHouston, December 6, 2010 ‐‐ Younan Properties and its tenants are celebrating the Spirit of the Season by participating in a local Houston food drive. Younan Square located at 1010 Lamar in downtown Houston, 1700 West Loop, and 2323 Shepherd Place in the Galleria district are combining efforts to support the Houston Food Bank in its holiday food drive collection from December 13‐17. Younan Square, in its third year of participation, kicked off the drive earlier on November 29 and will continue its collection efforts through December 17. Building tenants, staff and visitors are encouraged to donate non‐perishable food, which will be given to thousands of local residents who are struggling this holiday season.

According to Roland Chua, Younan Properties' Regional Vice President of Leasing & Operations for Houston, this is an opportunity to give back to the community. "We are much more than just an owner and operator of commercial office buildings, we are part of our communities. As community partners, we believe in supporting important local organizations such as the Houston Food Bank. At this special time of year, we encourage everyone to step out to help local Houstonians."

About the Houston Food Bank

The Houston Food Bank is the largest source of food for hunger relief charities in 18 southeast Texas counties. A network of more than 400 food pantries, soup kitchens, senior centers and other agencies, feeding a total of 137,000 people each week, provides more than 65 million pounds of food and prepared meals annually.

About Younan Properties

Headquartered in Los Angeles, Younan Properties, Inc., a privately‐held real estate investment and management company, specializes in acquiring Class A office properties in high‐growth markets throughout the United States. Known for its detailed, hands‐on approach to improving operational efficiencies while maintaining top building standards for tenants, the company is recognized for its success in turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan Properties has accumulated approximately 11 million square feet of well‐located Class A office buildings valued at more than $1.5 billion in key markets in California, Texas, Illinois and Arizona. www.younanproperties.com.

Contact: Denise Davis
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818.703.9600

pdfLOS ANGELES, November 9, 2010 —Younan Properties, Inc., a privately held, fully‐integrated real estate owner and manager of Class A office properties in five major U.S. office markets announced that it established a Corporate Services Program as part of its Tenant Care Division to provide the Company's large corporate tenants with a single point of contact at the corporate level. Brian Hennessey, Vice President of Leasing for Younan has been named to this new position and will serve as the national contact for Younan tenants who lease 20,000 square feet or more in one of its 35 office properties.

According to Zaya Younan, Chairman and CEO, this program provides a direct line of communication to large corporate tenants that often have specialized requirements. "Our corporate tenants manage the complexities of a large workforce on a day‐to‐day basis. By designating an experienced professional at our Corporate office who personally knows the tenant requirements and priorities, we can deliver immediate solutions in the areas of lease administration, space build‐out or simply navigating the daily issues that arise from managing a large organization in an office environment.

"As a senior level executive with Younan, Brian has significant knowledge of our assets and he will provide a single point of contact to ensure that tenants needs are being expedited. An added benefit is immediate feedback from the tenant, which is invaluable to our continuous improvement process. As we find more ways to support our tenants and focus on their requirements, we will continue to increase these resources," he noted.

Hennessey rejoined Younan Properties in January of 2010 as Vice President of Leasing. From 2003 to 2006, he served as Senior Vice President for Younan Properties where he oversaw acquisitions and dispositions. During his tenure, Younan's portfolio grew to more than 8 million square feet of Class A office space. Currently Younan Properties serves more than 850 tenants in a variety of industries including professional, scientific and technical services, information technology, finance and banking, national resources, and legal services.

About Younan Properties

Headquartered in Los Angeles, Younan Properties, Inc., a privately‐held real estate investment and management company, specializes in acquiring Class A office properties in high‐growth markets throughout the United States. Known for its detailed, hands‐on approach to improving operational efficiencies while maintaining top building standards for tenants, the company is recognized for its success in turning around undervalued assets and maximizing the value of stabilized assets. Through the application of proprietary technologies and proactive management, Younan has accumulated approximately 11 million square feet of well‐located Class A office buildings valued at more than $1.5 billion in key markets in California, Texas, Illinois and Arizona. www.younanproperties.com.

Contact: Denise Davis
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818.703.9600

pdfLOS 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
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818.793.9600

pdfDALLAS, September 30, 2010 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in five major U.S. office markets and the largest office building owner in Dallas, announced that it has leased more than 460,000 square feet of office space in its Dallas portfolio through the first eight months of 2010. The leasing in Dallas represents tenant renewals, expansions and new deals.

According to Robert Peddicord, Chief Operating Officer of Younan, the recent activity points to the underlying resilience of the Texas market, combined with the partnership of Younan and its third party brokerage teams. "We are experiencing solid leasing activity in our Texas portfolio, which supports recent studies pointing to Texas as a growth story coming out of the recession. Our brokerage teams have been working diligently and we anticipate more activity going forward with the addition of our internal leasing representatives."

Highlights of recent leasing in the Dallas market include:

  • Lakeside Square ‐ An expansion of 50,436 square feet by EXCO Resources;
  • Patriot Tower ‐ A renewal of 12,475 SF by Metropolitan Fiber Systems of Dallas;
  • Energy Square Two ‐ A renewal of 57,532 square feet by New York Life Insurance Company;
  • One Graystone Centre ‐ New leases totaling 5,070 square feet. New tenants include Marc LaForce, CCIC, KOINFO IT & Web Solutions, and Dan Heard Financial Advisor.

Several area leasing brokers involved with Younan in the Dallas‐Fort Worth market, echoed the advances in leasing. According to Malcolm Ross, Senior Managing Director of CASE Commercial Real Estate Partners, "We have noticed an increase in leasing activity over the past 60 days in all our submarkets. This coupled with some key initiatives within the Younan organization including strategic hires and aggressive pursuit of tenant satisfaction should lead to strong leasing activity between now and year‐end. The Dallas market continues to fare better than most with an unemployment level of 8.5% which is below the national average of 9.6%. In addition, Dallas is projected to add more than 700,000 new residents over the next five years, the highest forecasted total in the entire U.S. We believe Dallas has fared better than the other major metropolitan areas thus far and will lead the way as we come out of this economically challenging environment."

Jeff Eckert, Senior Vice President of Jones Lang LaSalle observed, "The fundamentals of the Texas market have been stronger in relation to the rest of the country, but in today's challenging times, tenants and brokers alike look for responsive landlords, like Younan Properties, with quality portfolios. The leasing velocity across the Dallas market continues to steadily improve with multiple relocations focused on our market coupled with a significant number of expanding tenants across all business sectors."

About Younan Properties

Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily 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 is a full‐service 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
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818.793.9600

pdfHOUSTON September 27, 2010 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in five major U.S. office markets and one of the largest office building owners in Texas, announced that it has leased more than 320,000 square feet of office space in its Houston portfolio through the end of September, 2010. Much of the leasing activity occurred in the last three months and represents renewals, expansions and new leases.

According to Zaya Younan, Chairman and CEO of Younan Properties, the year‐long acceleration in leasing activity points to a significant improvement in market fundamentals and confirms current sentiment about the underlying strength of the Texas market. "Texas has weathered the recession better than most of the U.S. Recently, Moody's Economy.com forecast that Texas will lead the country in employment growth due to its diversified economy, central location and low cost of living. We continue to see positive momentum in the market and significant leasing traction in our portfolio."

He added that Younan's new in‐house leasing support team, working in partnership with its outside brokers, has injected velocity to leasing activity throughout the company's national portfolio. "Each of our sub‐markets has demonstrated positive leasing momentum. The addition of our new leasing organization, which was added less than 30 days ago, has made a significant impact in building a pipeline of deals that can be executed, and the positive impact of this addition will be more evident through 2011."

One of the largest and most recent deals is the renewal of British Petroleum (NYSE: BP) at Younan's Two Westlake Park for 92,000 square feet of office space. BP has been a tenant of Two Westlake Park in the Energy Corridor since 2005. The company was represented by JLL in Houston.

Additional highlighted leasing activities throughout the Houston portfolio include:

  • Younan Place (Westchase) ‐ A renewal of 16,196 square feet by Abby Office Centers
  • Norfolk Tower (Greenway Plaza) ‐ A renewal of 9,000 square feet by Houston Medical Records
  • Shepherd Place (Midtown) ‐ New leases totaling 9,000 square feet for tenants Leger Adkins, Memphis Electronic, Helen Chong, Elizabeth Knight & Daniel Garza;
  • Greenbriar Place (Northbelt) ‐ A new lease of 2,000 square feet to Omni‐Plant Corporation.

Wade Bowlin, Executive Vice President and Managing Director ‐ Central Division of PM Realty, represents nine of Younan's Houston's 11 properties.Bowlin noted, "We feel we are at a turning point in the Houston office market where we see significant positive changes with tenants renewing and expanding. The Younan portfolio in Houston will benefit from this turnaround because of the quality of its assets, its strategic location in the sub‐markets and its ability to fund tenant improvement costs of any size."

About Younan Properties

Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily 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 36 office properties with approximately 11.0 million square feet of rentable space. Younan Properties is a full‐service 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
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818.703.9600 x9705

pdfChicago, September 21, 2010 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in five major U.S. office markets announced that it has leased more than 150,000 square feet of office space in its Chicago portfolio through the first eight months of 2010, with more than half of leased in the past three months. The leasing in Chicago represents new deals, tenant renewals and expansions.

Zaya Younan, Chairman and CEO of Younan Properties, noted that the recent leasing activity is a positive reflection on improving market fundamentals, and supports the strong partnership between Younan and its third party brokerage teams. "We are experiencing solid leasing activity throughout our Chicago portfolio, which is a tribute to our third party brokers, our regional leasing team and Younan's ongoing improvement of our leasing process."

Highlights of recent leasing in the Chicago submarkets include:

  • Embassy Plaza, Schaumburg‐ New leases totaling 9,109 square feet. New tenants include Shelby, Inc. and Kleesoft, Inc.
  • 1600 Corporate Center, Rolling Meadows‐ A renewal of 21,281 square feet by Regus.
  • Bannockburn Corporate Center, Bannockburn‐ A new lease totaling 7,091 square feet by Parus Holdings, Inc.
  • Younan Commons, Hoffman Estates‐ Five renewals totaling 23,452 square feet. Among the renewals are Whirlpool Corporation, LG Electronics, Mattel Sales Corporation, Electrolux, and Applica Consumer Products.
  • Younan North LaSalle, Central Loop‐ A renewal of 4,000 square feet by the U.S. Government Printing Office.

According to Joe Stevens of Transwestern, an area leasing broker involved with Younan in the Chicago, "It has been challenging to complete leasing deals over the past year and a half, but Younan Properties continues to excel by providing quick turnarounds and a tenant friendly lease process. While many landlords are standing on the sidelines, Younan has taken this opportunity to be deal makers."

About Younan Properties

Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily 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 36 office properties with nearly 11.0 million square feet of rentable space. Younan is a full‐service 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
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818.703.9600 x 9705

pdfLos Angeles, September 20, 2010 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in five major U.S. office markets announced that it has leased 105,325 square feet of office space in its Phoenix portfolio through the third quarter of 2010. Total leasing throughout Younan's national portfolio now exceeds 1 million square feet for the year.

In Phoenix, Younan owns and manages two Class A downtown office properties on North Central Avenue ‐ Meridian Bank Tower at 3550 N. Central Avenue and 4041 Younan Central Plaza. Earlier this month, the company announced that it had acquired the remaining ownership of Younan Central Plaza following a successful refinancing by Deutsche Bank. According to Zaya Younan, Chairman and CEO of Younan Properties, recent leasing activity supports the positive shift in momentum we see in the Phoenix market. "The Phoenix market suffered significantly through this recession, but we believe that the market has reached its bottom and will begin a slow but steady recovery in 2010 and 2011. According to latest research, Phoenix is projected to have an average annual employment growth rate of 3.2% through 2015, exceeding all other national office markets."*

Recent leasing in Phoenix includes:

  • Younan Central Plaza ‐ A total of 25,393 square feet of renewals and expansions by Phoenix School of Law and Barron Collier.
  • Meridian Bank Tower ‐ A total of 79,932 square feet, which includes new deals and renewals by Arizona Department of Water Resources, Owens Harkey and Associates, LIW, Greenstone, Scott Lawler and Shear FX.

Younan also commented on the increased leasing velocity and occupancy gains throughout the company's national portfolio. "We are seeing significant, positive improvements in all of our key markets," he said. "Our Dallas, Chicago, Houston and Los Angeles portfolios all have recorded an increase in leasing transactions each quarter, and we see this positive trend extending into 2011." Charles Miscio, Senior Vice President of Colliers International and leasing broker for Younan Central Plaza noted, "By partnering with a well‐capitalized owner of quality assets like Younan Properties, we are able to meet tenant requirements immediately, which is critical to getting deals done in this market."

About Younan Properties

Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily 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 36 office properties with nearly 11.0 million square feet of rentable space. Younan Properties is a full‐service 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
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818.703.9600 x 9705

* Source: CBRE Reports, Summer 2010

pdfRefinancing of Asset Completed in Less than 30 Days

Los Angeles, September 16, 2010 ‐‐ Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in major U.S. office markets, announced that it has completed the refinancing of 4041 Younan Plaza, a 20‐story, 405,693 square foot, Class A office tower located in downtown Phoenix and the buyout of the property's largest investor. Younan represented itself in the transaction with assistance of RKM Capital. Commercial Mortgage Backed Securities (CMBS) financing was provided by Deutsche Bank.

"We have seen significant, positive steps and changes in commercial real estate debt market origination and we were able to take advantage of the opportunity to refinance this asset for a longer term at a more attractive rate," noted Zaya S. Younan, chairman and chief executive officer. "Deutsche Bank offered attractive CMBS financing terms and was able to provide us with a financing solution quickly. They delivered on a promise and executed flawlessly."

Younan added, "We are beginning to see more leasing velocity in Phoenix, which supports our ongoing confidence in this market. The completion of this transaction will enable Younan Properties to be more responsive and flexible to meet the needs of current and potential tenants who are seeking Class A space solutions in Phoenix."

Richard Scandaliato of RKM Capital who worked with both parties said, "The client and the lender worked closely together in underwriting the asset and completing this financial transaction in an unusually short period of time. This is a credit to Younan Properties, which has an experienced finance team that can execute complicated transactions with ease."

About Younan Properties

Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily 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 is a full‐service 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
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818.746.9705

pdfCompany Continues Expansion of Leasing Organization

Chicago, August 18, 2010 ‐‐ Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in five major U.S. office markets, continues the expansion of its leasing organization with the appointment of Dan Svachula as Regional Leasing Manager. In this new role, Svachula will be responsible for driving Younan's leasing and marketing strategies for more than 2 million sq. ft. of office space owned and managed by Younan in Chicago.

According to Robert Peddicord, Chief Operating Officer, "Dan brings proven leasing experience to the Chicago market, along with an in‐depth knowledge of Younan having served as Vice President of Leasing for Transwestern, which handles four of Younan's area Chicago properties at 1600 Corporate Center, Embassy Plaza, One North Arlington and Kensington. He is a valuable addition to our Chicago team."

Younan's other Chicago area assets include Younan North LaSalle in the Central Loop submarket, Bannockburn in the North submarket and Prairie Stone Commons in the Northwest submarket. Added Svachula, "Working with Younan Properties over the past four years has provided me a particular insight into the quality of the assets as well as the vision of the management team and the professionalism of the staff. This is a great opportunity to continue my career with another first class organization. I look forward to building upon Younan Properties' tremendous successes in Chicago. "

In seven years at Transwestern, Svachula completed more than 275 deals totaling 2.1 million square feet. He grew his suburban assignments from a single 150,000 RSF building to a 22 building, 3.4 million RSF portfolio. Before joining Transwestern, Svachula was a sales associate for Kingbrook, Inc. He is an executive board member of the Rosemont Chamber of Commerce and a member of the Chicago Office Leasing Broker Association. He atteneded the University of Illinois at Urbana‐Champaign.

About Younan Properties

Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily 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 full‐service 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
This email address is being protected from spambots. You need JavaScript enabled to view it.
818.793.9600 ext. 9705