Chicago has evolved into a professional and financial services-oriented economy and is recognized as a global financial center and the financial capital of the Midwest. It is home to the corporate headquarters of 57 Fortune 100 companies. The area is home to the largest futures exchange in the world. At the same time, Chicago remains a dominant city in the nation's manufacturing core, and its geographic location and extensive transportation network allow the area to retain its place as a major transportation and distribution center. Approximately 9.6 million people live in the Chicago metropolitan area, making it the third-largest metropolitan area in the United States. As of June 2014, the Chicago office market and area suburbs comprised nearly 240 million square feet, ranking it the third largest office market in the nation. Younan Properties is an owner and manager of Class A office properties in Chicago.
Colorado Springs is the second largest city in the state. It was founded in 1871 and has evolved from a quaint spa resort to a city of sophistication that holds the charm of small town ambience. Colorado Springs is located 80 miles south of Denver International Airport. World class ski resorts lie within an hour’s drive of the city. Over six million visitors flock to the area each year from around the globe. There are over 300 days of sunshine to be enjoyed in Colorado Springs annually. At an altitude of 6,035 feet, the climate of Colorado Springs and the Pikes Peak region is warm in the summer and moderate in the spring, fall and winter. Colorado Springs is home to 12 universities, eight colleges and four graduate schools, including the Air Force Academy. Younan Properties is an owner and manager of Class A office properties in Colorado Springs.
The local economy of Dallas-Fort Worth benefits from the region's consistent population growth and a diverse mix of industries that include aerospace, manufacturing, telecommunications, finance, trade, energy and health services. Dallas-Fort Worth is one of the most affordable markets among major metropolitan areas in the United States, and Newsweek ranks Texas first for "job-seeking Americans." The Dallas-Fort Worth unemployment rate was 4.3% at the end of March in 2019. From February of 2019 to February of 2020, the DFW area added 126,000 new jobs for an increase of 3.4% on a year over year basis. The Dallas-Fort Worth office market comprised more than 218 million square feet, ranking it the fourth largest MSA in the nation and one of the fastest growing regions in the country. The current population in the DFW area is 6.3 million, 1.6% higher than it was in 2019.
Houston is the second fastest growing city in the U.S. according to the Census Bureau. The market has diversified away from energy-related sectors in the past decade, improving the region's economic stability. Houston's health services industry has enjoyed robust growth as a result of the pre-eminence of the Texas Medical Center, the world's largest medical complex. Strong population growth helps support the regional economy. With a population of 6.3 million in 2020, the greater Houston metropolitan area is ranked second in the nation for Fortune 500 company headquarters. With 26 corporate headquarters, Houston only is outpaced by New York. Houston's numerous amenities and low cost of living attract new residents at a steady pace, and Houston unemployment stood at 3.5% at the end of June 2019. Houston ranks fifth on the 2014 Best Cities for Jobs list published by Forbes Magazine.
With an estimated population of more than 12.4 million people, the Los Angeles metropolitan region ranks as the second largest metro economy in the United States. Trade, tourism and media-related industries, as well as the information services industry and the growing technology sector, are clustered in Los Angeles and vital to the regional and national economy. The entertainment industry is one of Los Angeles' core economic strengths and one of the region's most high-profile sectors. Some 30.8% of the population 25 years or older had attained a bachelor's degree or higher level of education according to the latest Census. At the midpoint of 2014, total office inventory in the greater Los Angeles market area was nearly 200 million square feet, according to CoStar. Younan Properties, a privately-held commercial real estate investment management company is headquartered in Los Angeles, with properties in Woodland Hills, Orange County, Thousand Oaks, and Westlake.
With a 2020 population of 1.7 million, Phoenix is the largest city in Arizona and the 5th largest city in the U.S. Phoenix is currently growing at a rate of 1.27% annually and its population has increased by 17.8% since the most recent census, which recorded a population of 1.4 million in 2010. Housing and trade have become major pillars in Phoenix's economy. The life sciences, consulting and high-tech industries also have a large presence in Phoenix and have been driving professional and business services sector employment. Phoenix benefits from an aerospace and defense presence, as well as a burgeoning semiconductor manufacturing industry that requires a number of research and development facilities and employs many science and technology workers. As of March 2020, the metro Phoenix unemployment rate was 4.8%. The total Phoenix office market is 104.5 million rentable square feet. Younan Properties is one of the most respected commercial property investment groups in Phoenix.