YOUNAN PROPERTIES PURCHASES A 300,000 SF CLASS A" OFFICE BUILDING FOR $18 MILLION

Younan Properties, one of the fastest growing commercial real estate investment firms in the U.S., has purchased a 300,000 square foot, class A" office building from Kolter Property Company for $18 million. The 15-story office building is located at One Graystone Center, 3010 LBJ Freeway in Dallas, Texas.

Younan Properties, one of the fastest growing commercial real estate investment firms in the U.S., has purchased a 300,000 square foot, class A" office building from Kolter Property Company for $18 million. The 15-story office building is located at One Graystone Center, 3010 LBJ Freeway in Dallas, Texas.

Demonstrating the firms ability to turnaround an asset, Younan Properties executed a 7-year lease with Dallas-based Kimball Homes for 21,000 SF, while in escrow on the building. This transaction raises the occupancy from 53% to 60% at the time of purchase.

This was a major acquisition for our company and a key milestone due to the size of this transaction," said Zaya Younan, chairman and CEO of Younan Properties. Our strength is bringing value to our existing properties, that may, at the time of escrow, be under performing in their markets. This property allows us to demonstrate our capabilities of converting a prime asset into a stable, profitable structure, which will not only bring market value back to the community, but will provide an excellent work environment. We are committed to growing our assets in Texas and believe this markets upside potential is significant. To date, we have built a portfolio in Texas which exceeds $1.1 million."

The buyer, Younan Properties, was represented by Darrell Betts and Scot Farber of Grubb & Ellis Southwest region. The seller, Kolter Property Company, a real estate development firm, was represented by Fenoglio Fauler, L.P.

Over the last six months, it has been a pleasure working with Younan Properties on completing seven transactions," said Betts. The firms unique hands-on approach to investment real estate and in-depth market knowledge has made the transaction process extremely smooth for all parties involved."    

Based in North Hollywood, Calif., Younan Properties is an entrepreneurial commercial real estate investment firm that specializes in acquiring, repositioning and managing office buildings throughout the country. Since its founding in January 2002, Younan Properties has excelled in delivering exceptional returns to its investors by identifying under-performing assets and re-positioning the properties. In the last 12 months, the firm has acquired more than 20 office buildings throughout the U.S. totaling more than 1.5 million square feet, and sold eight buildings with more than 350,000 square feet. Younan Properties track record in asset management and building operations has exceeded the industry standard. Additional information is available at www.younanproperties.com.
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