News and Events - 2013

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Younan Properties Acquires Office Building in Thousand Oaks;
Latest Purchase Marks Third Acquisition in 2013 for Class A Owner/Investor

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Los Angeles, September 23, 2013 ---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 its third acquisition this year with the purchase of the Briarwood office building in Thousand Oaks, CA. in an all-cash transaction.

The 42,767 square foot multi-tenant office building is located in the affluent Conejo Valley submarket in Ventura County. The office building sits on 3.08 acres and is immediately adjacent to US Highway 101 in the growing 101 Technology Corridor. Briarwood is 90.5% leased to a professional roster of business, engineering and medical tenants.

Zaya Younan, Chairman and CEO of Younan Properties commented on the transaction. “This was an exceptional opportunity to expand our portfolio in the greater Los Angeles area by acquiring a stabilized asset in a very strong submarket that is demonstrating significant growth. Because of our resources, our reputation as an experienced owner/operator and our ability to close deals quickly, we are able to take advantage of these opportunities. We have made three acquisitions in 2013 and we are prepared to execute several more transactions before year end."

Sean Fulp, Managing Director at Rockwood Real Estate Advisors represented the seller, CW Capital. "This was another seamless transaction with Younan Properties and another case where multiple buyers were interested in acquiring this asset. Younan has established solid reputation as an experienced buyer, and sellers know that the transaction will be handled smoothly, " he said.

Younan added, " While we were under contract to acquire the property, the occupancy increased from 90% to 97%, which underscores the value of this investment."

The two-story Briarwood building is located on West Hillcrest Drive. A soaring two-story atrium allows for abundant natural light in a park-like setting that features mature landscaping. The building offers tenants 268 underground and surface parking spaces. Briarwood is located immediately across from The Oaks Mall, a 1.3 million square foot regional shopping mall and entertainment center that features more than 100 national and specialty retailers and restaurants including Nordstrom, Apple, Williams-Sonoma, Muvico Theaters, The Cheesecake Factory and Bogart's Bar & Grill.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties and selected retail centers in strong 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 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.

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Contact: Denise Davis
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Younan Properties Completes Another Successful Refinancing of Class "A" Houston High Rise;
Major Renovation Planned for Younan Tower

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Houston, September 19, 2013 ---Younan Properties, Inc., a full-service, national real estate owner and property manager of Class A office buildings in Dallas, Houston, Los Angeles, Chicago and Phoenix, announced that it successfully completed the refinance of Younan Tower in Houston. The new five-year, fixed rate loan funded on September 6 by lender ReadyCap Commercial, LLC, of Irvine, CA.

According to Zaya S. Younan, Chairman and CEO, "Once again, we successfully worked with ReadyCap to access the current rate environment and take advantage of favorable terms and lock in long term debt for this asset. This new financing provides us with additional resources for capital improvements, leasing, and tenant improvements. Recently, we announced a major capital program to further upgrade the asset, which will include lobby and elevator renovations, lighting enhancements and garage upgrades. Together, these projects and enhancements serve to underscore Younan Tower's position as a Class A, premier office property."

Younan Tower is a 10-story, Class A office property with 165,094 square feet, strategically located in the Northbelt submarket and has served as corporate headquarters for several Fortune 500 companies. The distinctive exterior is comprised of high-performance, tinted glass panels and landscaped outdoor amenities for tenants include an abundance of green space and a fully-stocked Koi pond. The lobby features granite and marble flooring and walls. The building offers a seven-level parking garage, abundant surface parking, full service cafe, 24/7 security and after-hours card key access.

Younan added, " The Houston market continues to outpace the nation in employment, low cost of living and opportunity. With overall market vacancy hovering at 9%, Houston's office market remains one the healthiest in the nation. Younan Tower is especially attractive to tenants who desire an amenity-rich, Class A building in a vibrant, gateway submarket."

Joel Covington, VP CRE Lending - Greater Los Angeles for ReadyCap, managed the transaction. "Once again, ReadyCap and Younan Properties executed a seamless transaction in record time. As a long-time owner in Houston, Younan understands the market dynamics of Houston. We are pleased Younan Properties has chosen ReadyCap as its financing partner."

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong 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 19 office properties in five top metro markets. Younan's fully-integrated real estate investment company offers 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.

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Contact: Denise Davis
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Retail Promenade to be Renamed 7 Thousand Shea

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Phoenix, September 12, 2013 ---Younan Properties, Inc., a full-service, national real estate owner and property manager of Class A buildings in Dallas, Houston, Los Angeles, Chicago and Phoenix, announced that it successfully completed the financing of its latest Class A acquisition in Scottsdale. The new 5-year, fixed rate loan was funded on September 6 by ReadyCap Commercial, LLC of Irvine, CA. Currently named Scottsdale Promenade, the 137,522 square foot retail lifestyle center will be rebranded as 7 Thousand Shea.

According to Zaya Younan, Chairman and CEO, "The financing of the shopping center takes advantage of the current favorable rate environment and reflects the overall improvement in the Phoenix market in general and the strong, underlying fundamentals of Scottsdale in particular. The new loan provides us additional resources to complete ongoing capital improvements, as well as funding for new leasing and tenant improvement costs to stabilize the property. We are excited to re-introduce 7 Thousand Shea to the community and solidify its retail position within the Scottsdale market."

"Since acquiring the shopping center in early April, several new tenants have been signed, increasing occupancy from 60% to 70%. I am confident that once the renovations are completed, 7 Thousand Shea will outperform the market in occupancy," Younan added.

According to ReadyCap Commercial's Joel Covington, VP CRE Lending - Greater Los Angeles, "Younan Properties understands the growth opportunities and market fundamentals of Scottsdale and greater Phoenix. The team is particularly adept at stabilizing assets quickly and repositioning them for solid growth. We anticipate a long and mutually beneficial relationship with Younan well into the future."

The name change to 7 Thousand Shea will take effect upon completion and installation of new monument signage. As part of the overall repositioning program, the property is undergoing significant capital improvements and upgrades including the reconfiguration of the main parking lot to improve traffic flow and visibility, new landscaping, painting and lighting upgrades.

The Class-A retail lifestyle center is located in Scottsdale, an affluent enclave of Phoenix where lease rates typically run more than 40% higher than those in Phoenix. Situated near the intersection of major thoroughfares East Shea Boulevard and North Scottsdale Road, the center is strategically positioned within Scottsdale’s renowned retail trade area, minutes north of Downtown Phoenix.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong 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 15 office properties including one retail center in five top metro markets. Younan is a fully-integrated 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.

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Contact: Denise Davis
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818.703.9600

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Native Health Signs New Lease for 25,770 SF at 4041 Younan Central Plaza in Phoenix

 

Younan Properties, one of nation's leading Class A office building owners and managers in five U.S. markets, increased occupancy in its Phoenix office asset, and has improved average occupancy across the entire YPI portfolio by 120 BPS.

 

PHOENIX, April 23, 2013 --- Younan Properties, Inc., a privately-held, national real estate investment and management company, which owns office buildings in five major U.S. office markets announced that Native American Community Health Center, Inc. (NATIVE HEALTH) signed a new lease for 25,770 square feet at 4041 Central Plaza in downtown Phoenix. The agency is relocating its medical and dental primary care division and its administrative offices to accommodate its growth.

According to Walter Murillo, CEO of NATIVE HEALTH, the tenant space at Central Plaza met the agency's growing needs. "NATIVE HEALTH is excited about our new location at 4041 N. Central Ave, a Younan property. The custom designed facility will allow NATIVE HEALTH to meet the growing demand for integrated primary care. The central location is in the heart of the communities that we have traditionally served and our collaborators in providing care. NATIVE HEALTH looks forward to serving our community at 4041 N. Central and our new partnership with Younan Properties."

Corey Hawley of CBRE represented Younan Properties, and Dave Barrett and Chuck Nixon of CBRE represented NATIVE HEALTH in the transaction. Commenting on the new lease, Hawley said, "The central location of Central Plaza with its proximity to public transportation, combined with the building's amenities and functionality, make it the right choice for NATIVE HEALTH."

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. The company is recognized for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants. Younan's fully-integrated real estate investment company offers in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. www.younanproperties.com.

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Contact: Denise Davis
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818.703.9600 x9705

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Younan Properties Acquires Scottsdale Promenade;
Class A Office Investor/Owner Broadens Portfolio With Retail

 

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Phoenix, April 4, 2013 --- 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 broadened its portfolio to include retail centers with the acquisition of Scottsdale Promenade in Scottsdale, AZ in an all-cash transaction.

A 137,522 square foot Class-A retail lifestyle center located in the affluent enclave of Scottsdale, the Promenade is situated near the intersection of major thoroughfares East Shea Boulevard and North Scottsdale Road. It is strategically positioned within Scottsdale’s renowned retail trade area and is minutes north of Downtown Phoenix.

Zaya Younan, Chairman and CEO of Younan Properties commented on the transaction. “This was a unique opportunity to expand our footprint in the recovering Phoenix market by acquiring an institutional quality asset with significant upside potential. Because of our resources, reputation as an experienced owner/operator and our ability to close deals quickly, we are able to take advantage of these opportunities and grow our portfolio. Younan added, "We feel this is a particularly good time to expand our portfolio into the lifestyle retail sector and we are prepared to execute several more transactions before year end."

Jordan Cortez, Managing Director at Rockwood Real Estate Advisors represented the seller, CW Capital. "It is good to see Younan Properties re-enter the market and resume its acquisition activity. There were numerous buyers interested in acquiring this asset, but the seller chose Younan because it wanted a reliable, experienced buyer with an established reputation for closing," he said. "This was a smooth transaction and an on-time closing without any surprises. Sellers always prefer this type of buyer," he added.

Younan Properties has an aggressive leasing and occupancy growth plan to bring the Promenade to market and retained Cassidy Turley. According to Ryan Leavitt, Associate Vice President- Retail Group, having Younan Properties as the new owner will add value immediately. "Younan Properties has a well established reputation as a Class A office owner in major US markets including Phoenix. They understand the lifestyle and amenity desires of Scottsdale residents and they deliver results quickly through an experienced team that is supported by a solid infrastructure and strong financials."

The Scottsdale Promenade features five, two-story buildings and one, single-story building. Various levels of well-positioned retail space blend seamlessly with flowing fountains and immaculate landscaping. An established second floor plaza, located above an expansive structured parking garage, provides easy access to a significant portion of the Property’s retail tenants that include upscale and fast casual dining along with boutique retailers.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties and selected retail centers in strong 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 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.

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Media: Denise Davis
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Leasing: Ryan Leavitt
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602.224.4489

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Younan Properties Leases 140,000 SF in Dallas Renewals and New Leases;
Average Occupancy in Portfolio Increased by 210 bps in 2012

 

Younan Properties, one of nation's leading Class A office building owners and managers in five U.S. markets signed 140,000 square feet of new deals and renewals in Dallas over the past 12 months. Average occupancy across the entire YPI portfolio increased 210 bps in 2012.

 

Dallas, March 13, 2013 ---Younan Properties, Inc., a privately-held, national real estate investment and management company that owns office buildings in five major U.S. office markets announced it had signed 140,000 square feet of new deals and renewals in its Dallas office properties over the past 12 months. Overall leasing demand continued to improve in the Park Central and LBJ Expressway submarkets where Younan's properties are located.

According to Zaya Younan, Chairman and CEO of Younan Properties, "The Metroplex posted 2.7 million square feet of absorption in 2012. Dallas remains one of the best metropolitan areas in the country to do business, and with 5.7% unemployment it remains one of the top corporate relocation centers in the nation. In 2012, occupancy grew throughout our Dallas portfolio, and we are posting significant gains in the first quarter of 2013. The net absorption ratio in our portfolio was slightly higher than the market net absorption ratio."

Graystone Centre, a 301,378 square foot, 15-story tower in the LBJ submarket, signed more than 36,000 square feet of renewals and new leases with a diversified roster of financial services, professional staffing, engineering and technology companies.

According to Blake Shipley, Vice President, Jones Lang LaSalle and leasing broker for Graystone Centre, "The LBJ submarket has turned the corner. We’ve seen greater leasing velocity and tenant’s beginning to commit to space on a longer term basis. There is no doubt that the LBJ highway project, once completed, will connect the city in exciting way. Graystone Centre is well positioned with convenient access to LBJ – we have two full floors remaining with top of building signage opportunities."

Galleria Plaza, a 189,104 square foot tower also located in the LBJ, is undergoing significant upgrades including a lobby renovation, spec suites and new conference center, which has made it especially attractive to new and existing tenants.

"The Younan Properties team is flexible and makes quick decisions, which enable us to act quickly on behalf of tenants. Having a great space that is ready for immediate occupancy at a competitive rate creates great opportunities for leasing. We recently leased two spec suites within hours of completion. We also have major lobby and common area renovations underway and this has encouraged existing tenants to renew and, in some cases, expand their footprints at 4851 LBJ," said Sharon Friedberg, Senior Vice President, Bradford Commercial Real Estate Services and leasing broker at Galleria Plaza.

Lakeside Square, an 18-story, 403,120 square foot high-rise in the Park Central submarket, has leased more than 26,000 square feet of new leases and renewals in the last 30 days. Burson Holman, First Vice President, CBRE serves as leasing broker. Lakeside Fitness Center, a new 2,400 square foot professionally designed, full service gym recently opened to tenants, and Murphy's Deli is scheduled to open in several weeks. Additional renovations commencing soon include elevator upgrades, a garage lighting retrofit and spec suite development.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. The company is recognized for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants. Younan's fully-integrated real estate investment company offers 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.

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Contact: Denise Davis
This email address is being protected from spambots. You need JavaScript enabled to view it.
818.703.9600 x9705

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Younan Properties Signs 261,648 SF of New Leases and Renewals in Houston;
Significant Leasing Velocity Recorded Across All YPI Submarkets

 

Younan Properties, one of nation's leading Class A office building owners and managers in five U.S. markets signed more than one quarter million square feet of new deals and renewals in Houston over the past 12 months. Average occupancy across the entire YPI portfolio increased 120 bps in 2012.

 

Houston, March 5, 2013 ---Younan Properties, Inc., a privately-held, national real estate investment and management company, which owns office buildings in five major U.S. office markets announced it had signed 261,648 square feet of new deals and renewals in its Houston office properties over the past 12 months. Leasing demand was strong in all of the submarkets in which Younan owns and manages office buildings including the Houston CBD, the Westchase District, and the Greenspoint/Northbelt submarkets.

According to Zaya Younan, Chairman and CEO of Younan Properties, "Houston recorded a remarkable year of growth at 4.3 million square feet of absorption, which we have not seen since 2006. With strong job growth projected through 2014, the office market will expand concurrently and create further demand for well located office space in key submarkets. We are trending above our projections for 2013, which currently put us on track to exceed last year's performance."

Younan Square, at 1010 Lamar, signed 85,360 square feet of renewals and new leases with a growing roster of legal services, oil and gas services and energy-related technology companies.

“There is no question Houston’s CBD office leasing market will continue to trend upward, with strong leasing demand stemming from tenants evaluating potential expansions, relocations and renewals well in advance of their lease expirations. The shrinking availability of quality space and improving demand drivers has resulted in higher occupancy levels at 1010 Lamar as we inked numerous leases through aggressive leasing and marketing efforts,” said Courtney Knightstep, Leasing Manager and Mike Martin, Vice President for PM Realty Group. "Younan Properties supports our leasing efforts with its ongoing capital improvement program and its flexibility in accommodating innovative deal structures," she added.

Other notable deals were signed with National Oilwell Varco at Younan Place; the U.S. Department of Homeland Security at Younan Tower; Advanced International Services at Bridgewood I, and the U.S. Department of Agriculture at Greenbriar Place. Younan Properties owns and manages seven high and mid-rise office properties in the Houston market including Younan Square, Younan Place, Younan Tower, Greenbriar Place, Bridgewood I, Bridgewood II and Younan Plaza.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. The company is recognized for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants. Younan's fully-integrated real estate investment company offers 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.

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Contact: Denise Davis
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818.703.9600 x9705

Lakeside Square in Dallas Opens New Tenant Fitness Center

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Dallas, February 20, 2013 ---Younan Properties, Inc., a full-service, national real estate owner/manager of Class A office buildings including Lakeside Square in Dallas, announced the grand opening of Lakeside Fitness Center. With more than 2,400 square feet of professionally designed space and abundant natural light, Lakeside Fitness offers serious athletes and weekend warriors a complete fitness experience. The gym is fully equipped with state-of-the-art strength and cardio equipment including five recumbent bikes, three elliptical trainers and four treadmills -- featuring personal media centers with cable and wireless access. Lakeside Fitness is equipped with a Universal Weight Center and free weights from 5-50 pounds. There are spacious locker rooms for men and women equipped with two showers each and 24 lockers for daily storage.

According to Zaya Younan, Chairman and CEO, " Today, maintaining good health is more important than ever and amenities like state-of-the-art fitness facilities are on the wish list of corporate tenants who recognize the correlation between fitness and productivity. Lakeside Fitness Center is the latest example of our commitment to tenant satisfaction and to delivering a total tenant solution."

As part of the company's building renovation initiative, Younan Properties recently completed upgrades at Galleria Plaza at 4851 LBJ Freeway. The 189,104 square foot office tower opened a new conference center with seating for 40, and completed move-in ready spec suites. A lobby renovation is set to begin on February 22.

Lakeside Square is one of the premier office buildings in the Park Central submarket and benefits from its impressive stature, modern architectural design and tranquil lakeside setting. Park Central is a master-planned, mixed use development in the southern corner of US-75 and I-635, one of Dallas' most heavily traveled intersections. Standing 18 stories with 403,120 rentable square feet, Lakeside Square is highly visible from every direction, within proximity to Dallas' most prominent neighborhoods and steps away from Medical City. Within the building itself, Lakeside boasts a deli, car wash, conference center with wireless access and an adjacent six-level garage.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong 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 16 office properties in five top metro markets. Younan's fully-integrated real estate investment company offers 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.

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Editor's Note:
Lakeside Fitness Center:
Designer - Linda McCall, Optimal Space Designs, LLC www.optimalsd.com
Contractor - DPS Developments, LLC

Galleria Plaza:
Conference Room & Spec Suites
Contractor - Taurus Commercial
Lobby
Designer - Interprise/Southwest Interior & Space Design www.interprisedesign.com
Contractor - Crocker & Reynolds Construction


Contact: Denise Davis
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818.703.9600