This acquisition is part of a significant expansion in Southern California, which includes other large acquisitions that will be announced soon.
Los Angeles, CA (PRWEB) August 05, 2014
Building on its presence in the greater Los Angeles market, 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 it acquired a Class "A" office headquarters building in Simi Valley in an all-cash transaction.
Younan Executive Center is a two-story, 63,305 square foot, Class "A" office building located on Madera Road in the Los Angeles submarket of Simi Valley, CA., which is cited as the nation's seventh safest city. The building is the former headquarters of Countrywide Financial.
"We are continuing to strengthen our Los Angeles portfolio through targeted acquisitions where we can add significant value, " said Zaya Younan, Chairman and CEO of Younan Properties. “We are able to be opportunistic when assets become available because of our financial resources, experience and ability to close deals quickly. This acquisition is part of a significant expansion in Southern California, which includes other large acquisitions that will be announced soon," he added.
Visitors to Younan Executive Center are welcomed as they step into a dramatic entry with a soaring two-story lobby complete with high end finishes. The building is designed to easily accommodate a single user or can be efficiently demised for multi-tenant use. The window line throughout the entire building offers majestic mountain views. It 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 and is minutes away from restaurants, shopping, banks, dry cleaners and grocery stores. Younan Executive Center is a 15 minute drive from Westlake Village and the West San Fernando Valley areas.
Mark Leonard, Senior Vice President and Cory Richmond, Vice President of Lee & Associates serve as leasing brokers for the property. According to Leonard, "Younan Properties has earned a positive reputation as an experienced owner/manager, and as a company that commits the necessary financial resources to meet any tenant leasing and space plan requirement. We are pleased to be working with Younan on another Ventura County asset."
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 http://www.younanproperties.com.