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Younan Properties Leases Over One Million Square Feet in 2011
In 2011,Younan Properties, a private commercial real estate owner and manager, signed over one million square feet of renewals, expansions and new leases in Houston, Dallas, Chicago, Los Angeles and Phoenix.
Robert C. Peddicord, Chief Operating Officer of Younan Properties noted that 2011 proved to be a successful year despite continued high unemployment and ongoing uncertainty in the world financial markets. " In 2010, we took significant steps to strengthen our leasing platform, streamline our transactions and generate more exposure in the leasing community . Despite ongoing economic challenges, we are beginning to see substantive improvements in all of our markets, which is attributable to our portfolio of Class 'A' properties, our commitment to tenants, and the dedication of our leasing teams. "
The Texas market recorded a total of 523,005 square feet in leasing, which included 294,580 square feet in Houston and 228,425 square feet in Dallas. In the Chicago market, there was a total of 188,887 square feet of new deals, expansions and renewals. Los Angeles and Phoenix recorded more than 125,000 square feet of leasing.
Notable transactions in selected markets include:
• Southwest Energy, renewed - 120,000 SF
• Burns & McDonnell, expanded and renewed - 59,174 SF
• Levinson & Hill, renewed 24,704 SF
• McCall, Parkhurst & Horton, renewed - 23,396 SF
• Bank of America, renewed - 92,825 SF
• McCorkle Court Reporters, expanded and renewed - 20,048 SF
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About Younan Properties
Younan Properties is a fully integrated, privately-held owner and manager of primarily Class “A” office properties located in five major U.S. office markets, including Dallas, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 26 office properties with more than 9.0 million square feet of rentable space. Younan is a full-service real estate company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing.