Younan Completes 236,347 SF in New Metro Leases

DALLAS-In what Younan Properties Inc. chairman and CEO Zaya Younan calls a turnaround year, the Los Angeles-based developer has completed nine leases totaling 236,347 sf at six metro office buildings. Younan has raised occupancy levels at Two Energy Square, KPMG Center, Lakeside Square, 8080 North Central Expressway, Four Forest Plaza and Graystone Center.

Younan says the company is finishing 2006 in robust health after experiencing “an extraordinary year of growth and accomplishment.” He attributes the company’s success to the Dallas office market which had “strong positive absorption and better performance than expected.”

In a prepared statement, Younan says the company has brought its investors an average leveraged internal rate of return of 65% on properties sold to date. Younan’s Dallas area holdings include 12 class A office high-rise buildings. The firm’s Texas portfolio totals 4.7 million sf.