Younan Properties Brings Vacant Office Building to Full Occupancy in Year One;
Ventura County HSA Signs 57,200 SF Lease at Younan Executive Center In Simi Valley
Los Angeles, March 25, 2015 --- Younan Properties, Inc., a privately-held, national real estate investment and management company that owns office buildings in six U.S. office markets, announced that the Human Services Agency of Ventura County has leased 57,200 square feet of office space at Younan Executive Center, 2900 Madera Road in Simi Valley, CA. With this new agreement, the office building will be 100% leased after just one year of ownership by Younan Properties.
"This is a significant, long-term lease with a major tenant, and we are extremely excited to serve Ventura County Human Services and ensure that their tenancy will be both productive and enjoyable. We acquired 2900 Madera just last year with zero occupancy. The building had been completely vacant for four years. In less than one year of ownership, we have completely leased this building with two important tenants. We were able to add value quickly and turn a vacant office building into a fully leased asset in a very short time," said Zaya Younan, Chairman and CEO.
Mark T. Leonard, Senior Vice President & Principal, and Vice Presidents Cory Richmond and Jared Smits of Lee & Associates-LA North/Ventura represented YPI in the transaction. The tenant was represented by Keith Filegar, Manager of Real Estate Services Division, Ventura County.
Commenting on the new lease, Leonard said, “We are extremely pleased that we were able to represent the ownership to provide a solution for various Ventura County Human Services departments currently in Simi Valley. Younan Properties is an experienced owner and the YPI team worked quickly and provided the flexibility necessary to accommodate the County's needs. As far as we know, this is the largest office lease signed in Ventura County this year."
According to Human Services Agency Director Barry L. Zimmerman, the new lease meets the County's goals of consolidating a number of departments under one roof. “This lease enables us to bring together 150 employees in a highly professional environment that promotes team work, productivity and quality service to our customers."
Younan Executive Center is a two-story, 63,305 square foot, Class "A" office building located on Madera Road in Simi Valley, which is cited as the nation's seventh safest city according to the FBI. Visitors are welcomed as they step into a dramatic entry with a soaring two-story lobby complete with high end finishes. The building sits on 6.3 acres of a park-like campus and is professionally landscaped with mature trees and bushes. The property has immediate access off the 118 Freeway
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, Phoenix and Denver. 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.