Dallas, January 6, 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 it recently leased 27,371 square feet of office space in three of its suburban Dallas properties ‐ Eighty‐Eighty Central, North Central Plaza III and 9400 North Central Expressway The leases in the three Class A office buildings include new deals, tenant renewals and expansions.
Zaya Younan, Chairman and CEO of Younan Properties expressed optimism in the continued improvement of the Dallas office market. "In the fourth quarter, there was significant positive absorption of more than one million square feet. With an unemployment rate at 8.2%, which is well below many metropolitan areas, Dallas is poised to take full advantage of this recovery. Against this backdrop, our portfolio of Class A properties, our consistent level of service to our tenants and our dedicated leasing teams gives us a strong advantage over the competition."
Highlights of recent leasing in the Central Expressway submarket include:
- Eighty‐Eighty Central ‐ Renewals and expansions totaling 12,265 square feet. Tenants include W.J. Bill Morris, American Momentum Bank and Pearson Partners. Burson Holman and Blake Shipley of CBRE represented Younan Properties.
- North Central Plaza III‐ Three leases totaling 7,644 square feet with new tenants Spector Soft, Pulsar and Property Acquisition Services. Melanie Hughes and Sharon Friedberg of Bradford Commercial Real Estate Services represented the landlord.
- 9400 North Central Expressway ‐ Four leases totaling 7,462 square feet of renewals and new tenants that include Electric Transportation Engineering Corp., Steven Bell & Stephen Goetzmann, Promotional Network, and Peter Baldwin & John Franklin. Sharon Friedberg and Melanie Hughes represented Younan Properties in these transactions.
According to Melanie Hughes, Senior Vice President of Bradford Commercial Real Estate Services , "We have a great relationship with the Younan team and we have worked in partnership with Younan over the past year gaining new tenants and renewing existing ones in two Class A, suburban Dallas properties. Good economic deals combined with many tenant and property amenities, contributed to the success in working with these companies."
About Younan Properties
Younan Properties is one of the nation's leading privately held real estate investment and asset management companies specializing in 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
818.703.9600 x 9705