Younan chairman and CEO Zaya Younan tells GlobeSt.com that the class A office building off Highway 101 is owned and 40% occupied by the Western Regional Headquarters of Hitachi's Power & Industrial Division. Including other tenants, the building is 55% leased. The purchase price is not being released until the sale is complete later this year, says Younan.

Founded last year, Woodland Hills, CA-based Younan Properties specializes in acquiring, repositioning and managing office buildings throughout the country. In the last 12 months, the firm has acquired 2.1 million sf in 20 office buildings and sold 480,000 sf in eight buildings.

A few weeks ago, Younan acquired the 59,000-sf Mowry office building in Newark, CA, for $7 million, or $118.64 per sf, from Income Opportunity Realty Investors Mowry Corp. Located on Mowry School Road next to a two-year-old Hilton hotel, the three-story class B building was 30% leased at the time of sale.