News and Events - 2011

pdfYounan Properties continues to report strong leasing totals from the Company's office markets, which  include renewals, expansions and new leases.

 

LOS ANGELES, December 20, 2011 —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 in 2011 the company leased over one million square feet of new leases, expansions and renewals in its portfolio. The deals were executed in Houston, Dallas, Chicago, Los Angeles and Phoenix.

Robert C. Peddicord, Chief Operating Officer of Younan Properties noted that 2011 proved to be a successful year despite continued high unemployment and ongoing uncertainty in the world financial markets.  " In 2010, we took significant steps to strengthen our leasing platform, streamline our transactions  and generate more exposure in the leasing community . Despite ongoing economic challenges, we are beginning to see substantive improvements in all of our markets, which is attributable to our portfolio of Class 'A' properties, our commitment to tenants, and the dedication of our leasing teams. "

The Texas market recorded a total of 523,005 square feet in leasing, which included  294,580 square feet in Houston and 228,425 square feet in Dallas. In the Chicago market, there was a total of 188,887 square feet of new deals, expansions and renewals.  Los Angeles and Phoenix recorded more than 125,000 square feet of leasing.

Notable transactions in selected markets include:

Houston

  • Southwest  Energy, renewed -  120,000 SF
  • Burns & McDonnell, expanded and renewed - 59,174 SF

Dallas

  • Levinson & Hill, renewed 24,704 SF
  • McCall, Parkhurst & Horton, renewed - 23,396 SF

Chicago

  • Bank of America, renewed - 92,825 SF
  • McCorkle Court Reporters, expanded and renewed - 20,048 SF

About Younan Properties
 Younan Properties is a fully integrated, privately-held owner and manager of primarily Class “A” office properties located in five major U.S. office markets, including Dallas, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 26 office properties with more than 9.0 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 x 9705

pdfYounan Properties Successfully Completes Largest Sales Transaction in Dallas in 2011; Company Sells Energy Square Portfolio to Long Wharf Real Estate Partners

Younan Properties, one of nation's leading, private Class A office building owners and managers announced the sale of Energy Square, a three-building office complex in Dallas.

 


DALLAS, November 21, 2011 --- Younan Properties, Inc., a fully-integrated, national real estate owner and manager of Class A office buildings in five major U.S. office markets announced it has completed the sale of Energy Square, a three-building Class "A" office complex located in the North Central Expressway submarket of Dallas. The properties were acquired by Champion and Lincoln Property Company in a joint venture with Long Wharf Real Estate Partners. Together, the buying group acquired the 953,622 square foot office portfolio that has an average occupancy of 82%.

According to Zaya S. Younan, Chairman and CEO of Younan Properties, this sale is another successful example of executing the company's strategic plan. "The portfolio sale is simply a continuation of our strategic plan to sell selected, high performing assets that generate positive equity, further strengthen the company's balance sheet and position us for future acquisitions consistent with our strategic capital plan."

"These assets were sold above our purchase price and below a 7.5 cap rate, which is indicative of the asset quality of Energy Square, our ability to maintain occupancy throughout this recession and is further confirmation of the increasing interest by institutional buyers in Dallas, which continues to outpace the nation in employment growth and positive absorption," Younan added.

Jones Lang LaSalle's Capital Markets team of Evan Stone, Jack Crews and John Alvarado represented Younan in the sales transaction. Managing Director Evan Stone noted that the Energy sale is the largest transaction to close in 2011 in the Metroplex. "Despite the ongoing challenges occurring in the credit markets, the sale of Energy Square represents the largest transaction completed year to date in this market and proves there continues to be strong demand for high quality, well-located assets in resilient markets like Dallas and the Southwest. We appreciated working with Younan Properties on this transaction. To complete this kind of sale in such a challenging market speaks to the quality of the asset and Younan's ability to add value."

Energy Square is one of the most high-profile office complexes in North Dallas and holds an impressive and highly visible position along the North Central Expressway. Totaling approximately 953,622 square feet in three office towers, Energy Square offers an amenity rich, pedestrian-friendly urban environment near some of the most exclusive residential neighborhoods in the country including Preston Hollow and Highland Park. Energy Square’s tenant roster includes the headquarters of Davaco, Homecare Homebase, Reeder Energy and Hartline Dacus Dreyer as well as regional offices for New York Life and Jacobs Engineering.

About Younan Properties
Younan Properties, Inc., is a privately-held real estate investment and management company, specializing in acquiring Class A office properties in high-growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan's current portfolio consists of 26 office properties with more than 8.0 million square feet of rentable space. Younan is a full-service real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

Contact: Denise Davis
818.703.9600

pdfYounan Properties Successfully Completes Sale of Shepherd Place in Houston

Younan Properties, one of nation's leading, private Class A office building owners and managers announced the sale of 2323 Shepherd Place in the exclusive River Oaks submarket of Houston.

Houston, September 27, 2011 ---Younan Properties, Inc., one of the nation's leading private owners and managers of Class A office buildings in five major U.S. office markets announced that it completed the sale of 2323 Shepherd Place to DRA Advisors, LLC.

According to Zaya Younan, Chairman and CEO, the sale underscores Younan's asset quality and the company's strategy to increase liquidity and de-leverage. We are selectively marketing assets in our portfolio and utilizing the proceeds to benefit our investors and improve our capital position," he said.

"As the fourth largest metropolitan area in the country, the Houston economy continues to outpace the nation as well as the rest of Texas with an increase in employment of 2.6% over the last year. Many of these jobs were filled by professionals in high and middle wage occupations, which is a significant positive metric for the office sector. Houston continues to be a market where we want to invest and grow over the longer term. Asset recycling is a fundamental part of the growth strategy," Younan added.

Shepherd Place is a distinguished landmark in the exclusive River Oaks submarket of Houston. The 119,576 square foot office building is located in a densely developed, upscale neighborhood of Houston. The 90.4% occupied building serves a roster of professional tenants, many of whom are able to live and work in the exclusive enclave. The 14-story, Class A office building offers some the most sought-after, unobstructed views of the city.

With this disposition, Younan Properties will own and manage approximately 1.8 million square feet of office space in Houston, including 1700 West Loop in the Galleria submarket; Younan Place in the Westchase master-planned community; Norfolk Tower in the Greenway submarket; Younan Tower, Greenbriar Place, Bridgewood I and Bridgewood II in the Northbelt/Greenspoint submarket; Younan Plaza in Regency Square, and Younan Square, which is adjacent to Houston Pavilions and Discovery Green Park in the CBD.

About Younan Properties
Younan Properties, Inc., is a privately-held real estate investment and management company, specializing in acquiring Class A office properties in high-growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan's current portfolio consists of 31 office properties with nearly 10.0 million square feet of rentable space. Younan is a full-service real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit www.younanproperties.com

pdfBurns & McDonnell Expands at 1700 Younan West Loop, Houston

Younan Properties announced that Burns & McDonnell Engineering Company is expanding to 59,174 RSF at Younan's Class "A" 1700 West Loop office building in the Houston Galleria.


HOUSTON, August 31, 2011 ---Younan Properties, Inc., a privately-held national real estate owner and manager of office buildings in five major U.S. office markets announced that Burns & McDonnell is expanding to 59,174 square feet of tenant space at 1700 Younan West Loop located in the Galleria submarket of Houston. The engineering firm currently occupies 38,878 RSF in the building.

"For more than a decade, we successfully have grown our Houston practice and needed additional space for expansion," said John Lionberger Senior Vice President of the Houston office. This building offers the right location and amenities for our customers and employees." Burns & McDonnell was represented by Joe Peddie of Cushman & Wakefield. Steve Rocher and Kristen Rabel of CB Richard Ellis were brokers for the landlord.

“The building's functionality, location and easy access, make 1700 West Loop a great fit for a discerning tenant like Burns & McDonnell,” added Roland Chua, Regional Vice President of Leasing & Operations with responsibility for Younan's Houston portfolio.
Younan West Loop South is a Class A office building attached to the Marriott Hotel in the upscale West Loop shopping district with Galleria shopping and numerous restaurants. The 272,113 square foot office building houses a diverse roster of professional tenants.

About Younan Properties
Younan Properties is a fully integrated, privately-held owner and manager of primarily Class “A” office properties located in five major U.S. office markets, including Dallas, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 31 office properties with nearly 10.0 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

pdfRenewal and Expansion by Major Chicago Tenant

Younan Properties announced that McCorkle Court Reporters signed a lease to expand and renew 20,048 RSF at Younan Properties' Class "A"  200 North LaSalle in Chicago's Central Loop.

 


CHICAGO, August 3, 2011 ---Younan Properties, Inc., a fully-integrated, privately-held national real estate owner and manager of office buildings in five major U.S. office markets announced that McCorkle Court Reports, Inc. has renewed its lease and expanded to 20,048 square feet of tenant space at 200 North LaSalle located in the Central Loop of downtown Chicago.

"We are pleased  to maintain our address at 200 North LaSalle," said Katherine McCorkle, President and CEO of McCorkle Court Reporters.  We have been well served in this location for 19 years.  The building, with its easy access to the courts and downtown law firms is convenient for our clients who often need immediate access to our services." John Murphy and Konstantine Sepsis of MB Real Estate represented the tenant in the transaction.

“The central location of 200 North LaSalle with its proximity to the "EL", combined with premier building functionality and a great amenity package, make this building a great fit for a discerning tenant like McCorkle,” added Dan Svachula, Regional Leasing Manager with responsibility for  Younan's Chicago portfolio.  
200 North LaSalle is located on the northwest corner of Lake and North LaSalle Streets in The Loop, the historic center of downtown Chicago. The green-tinted glass tower incorporates 645,170 rentable square feet. Retail amenities include Associated Bank, Corner Bakery, Caribou Coffee, HQ Printers and sundries shop. The building offers near proximity to Thompson Center, City Hall/County Building, Daley Center, and all major METRA/CTA trains.
About Younan Properties
Younan Properties is a fully integrated, privately-held owner and manager of primarily Class “A” office properties located in five major U.S. office markets, including Dallas, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 31 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

pdfEighty‐Eighty Central and 9400 NCX Acquired by Rosemont Realty

Younan Properties, one of nation's leading Class A office building owners and managers and the largest office building owner in Dallas announced the sale of 9400 North Central Expressway and Eighty‐Eighty Central, two high‐rise Class A office towers located in the Central Expressway sub‐market.

Los Angeles, April 13, 2011 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and manager of Class A office buildings in five major U.S. office markets announced that it has completed the sale of Eighty‐Eighty Central and 9400 North Central Expressway to Rosemont Realty.

According to Zaya Younan, Chairman and Chief Executive Officer, the unsolicited offer from Rosemont reflects positively on Younan's asset quality as well as dynamic changes in the Dallas economy. "Recently, we have seen significant demand from both private as well as large institutional investors for high quality office buildings in Dallas because of fast‐improving market fundamentals. Texas leads the nation in employment growth, and Dallas continues to post monthly employment gains. For the first quarter, the Dallas‐Ft. Worth office market recorded more than 545,000 square feet in positive net absorption."

"The resiliency of Dallas during the recent recession and consistent positive changes in population and employment continue to fuel transaction activity," he continued. "The CAP rate has made a surprising movement downward and the compression of the CAP rate in Dallas has been tested with recent multiple, major transactions in the market."

Eighty‐Eighty Central is a 17‐story, 290,921 square foot Class A office in the heart of the Dallas North Central office Expressway. The building's distinctive profile, with a gabled roof and Roman arch accent, is readily recognized from the nearby expressway. 9400 NCX is a 392,457 square foot, 16‐story Class A office tower that sits on more than five acres and offers excellent accessibility and visibility along the east side of Central Expressway, between Park Lane and Walnut Hill Lane.

With these dispositions, Younan Properties will own and manage 12 office properties in Dallas including the One, Two and Three Energy Square buildings, located in the Central Expressway sub‐market; Four Forest, Galleria Plaza, Graystone Centre, Lakeside Square, The Meridian and North Central Plaza III, located in the LBJ sub‐market; and KPMG Centre, Patriot Tower and Thanksgiving Tower, located in the Dallas CBD.

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, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 33 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. For more information, visit www.younanproperties.com.

Contact: Denise Davis
(818) 703‐9600 x9705
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pdfDeal is Largest in Northwest Submarket in 2011

Bank of America renews its lease for 92,825 SF of space in Younan Properties' 1600 Corporate Center in Rolling Meadows. This deal represents the largest renewal for office space in the Northwest Submarket in 2011.

CHICAGO, April 11, 2011 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and manager of office buildings in five major U.S. office markets announced that Bank of America has renewed 92,825 square feet of tenant space at 1600 Corporate Center in the Northwest submarket of Chicago.

Bank of America has been a tenant of 1600 Corporate Center since its acquisition of Countrywide Home Loans in 2008. David Olsen, Mark Kolar and Greg Raus of Jones Lang LaSalle (JLL) represented the tenant. Joe Stevens, Fred Ishler and Zach Fox of Transwestern handled the transaction for Younan Properties.

"The abundant parking, great infrastructure, and central location combined with Younan's creativity in its deal structure make this building a great fit for this or any tenant," say Joe Stevens of Transwestern.

"This is an important renewal for Younan Properties and for 1600 Corporate Center," said Dan Svachula, leasing manager of Younan's Chicago portfolio. "Bank of America's long term commitment to the building is proof of the property's overall appeal and tenant amenities. There have been significant improvements in the market fundamentals, which is having a positive impact on leasing velocity. We currently are working on more deals that we will be announcing in the upcoming weeks."

1600 Corporate Center is a 255,440 square foot 12‐story, Class A office building located in Rolling Meadows, within Chicago's Northwest Suburban submarket. It is situated on a landscaped campus with unencumbered views of the Ned Brown Forest Preserve.

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, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 33 office properties with nearly 11.0 million square feet of rentable space. Younan 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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818.703.9600 x 9705

pdfLos Angeles, April 4, 2011 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and manager of Class A office buildings in five major U.S. office markets announced that it successfully paid off a $84.5 million CMBS loan on three properties located in the Dallas Central Expressway submarket. The properties include 9400 North Central Expressway, Eighty‐Eighty Central and North Central Plaza III.

"We continue to take advantage of our strong balance sheet, which allowed us to pay off this loan early," said Zaya Younan, Chairman and CEO. Our short‐range goal is to de‐leverage our portfolio with strategically targeted pay‐offs. In the past two months, we have paid off more than $180 million of our near‐term debt," he added.

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, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 35 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. For more information, visit www.younaproperties.com.

Contact: Denise Davis
This email address is being protected from spambots. You need JavaScript enabled to view it.
818.703.9600 x 9705

pdfProminent law firm McCall, Parkhurst & Horton renews at KPMG Centre in Dallas. Younan Properties is the largest owner of office space in Dallas and one of the largest owner/managers in Texas.

Dallas, March 1, 2011 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in five major U.S. office markets announced that McCall, Parkhurst & Horton LLP has renewed 23,396 square feet of tenant space at KPMG Centre in the heart of downtown Dallas.

A national leader in public finance law, McCall, Parkhurst & Horton has been a tenant at KPMG since 1982. According to Ted Brizzolara Senior Partner in the Dallas office, " We, here at McCall, Parkhurst & Horton L.L.P. are quite happy and pleased not only with the location of our Firm in the KMPG Centre office building in Downtown Dallas, but with our
office suite as well."

"McCall, Parkhurst & Horton is a one of the founding tenants at KPMG Centre," said Thom Ridnour, Director of Leasing for Younan's Dallas portfolio. "We are proud that this prestigious firm makes its Dallas home in one of Younan Properties' cornerstone projects."

The 848,778 square foot, 34‐story high rise is one of the most remarkable buildings belonging to Younan Properties. KPMG Centre is located at 717 North Harwood Street in Dallas' Central Business District. It is centrally located near Ross Avenue and The Arts District and within one block of the St. Paul DART rail station. The building offers commanding views of the Arts District, Uptown Dallas, Victory Park and Woodall Rodgers Park.

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, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 35 office properties with nearly 11.0 million square feet of rentable space. Younan 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
This email address is being protected from spambots. You need JavaScript enabled to view it.
818.703.9600 x 9705

pdfYounan Properties, one of nation's leading private office building owners and managers announced the sale of Two Westlake Park at 580 WestLake Park Boulevard in Houston, a Class A high rise and home to BP and ConocoPhillips.

Los Angeles, February 28, 2011 ---Younan Properties, Inc., a fully-integrated, national real estate owner and operator of Class A office buildings in five major U.S. office markets announced that it has completed the disposition of Two Westlake Park in Houston. KBS Realty Advisors has acquired the 455,142 square foot, high rise located in WestLake Park, long considered the epicenter of Houston's dynamic Energy Corridor submarket.

"Two Westlake Park is a Class A property located in a historically strong submarket with a premier tenant base and consistently strong occupancy," said Zaya Younan, Chairman and Chief Executive Officer. "This sale aligns with our goal to opportunistically dispose of certain assets and continue to deliver strong financial results to our investors and re-deploy our capital."

"The Houston market is an extremely strong and important market to us," added Younan. "We intend to continue our growth in Houston through acquisitions where we can add value by leveraging our operational and leasing strength."

H. Dan Miller, Senior Managing Director of Holliday Fenoglio Fowler (HFF), represented Younan Properties in the sales transaction. "The Younan team acted with professionalism and integrity throughout the entire process of this disposition, making for a smooth and seamless transaction," said Miller.

Designed by Skidmore, Owings & Merrill and developed by Hines Interests in 1982, WestLake Park is recognized as the pre-eminent office park within west Houston due to its location, construction quality and amenity base. Sitting on 5.4 acres, the Two Westlake Park office building complex includes the 17-floor office building, a seven-level parking garage, and the WestLake Club, a private, 67,000 square foot social and athletic club. With an overall occupancy of 97.0%, Two Westlake Park boasts a premier roster of tenants including ConocoPhillips, British Petroleum, Merrill Lynch, Raymond James and Marubeni-Itochu.

With this disposition, Younan Properties will own and manage 10 office properties in Houston including Norfolk Tower in the Greenway submarket; 1700 Younan West Loop South in the Galleria submarket; Shepherd Place in the Inner Loop/River Oaks submarket; Younan Place in the Westchase submarket; Younan Square in downtown Houston; Younan Tower, Bridgewood I, Bridgewood II and Greenbriar Place in the Greenspoint/North Belt submarket, and Younan Plaza in Regency Square.

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, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 35 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. For more information, visit www.younaproperties.com.