Younan Properties Inc. announced today it has completed its largest acquisition since its inception with the purchase of a 2.1 million-square-foot office portfolio in Texas and Illinois.
The total value of the purchase was not disclosed.
With a total of seven class A properties, the portfolio includes three office towers in Dallas’ Central Market development area and four mid- and high-rise office buildings in Chicago and surrounding areas.
Chicago-based Transwestern Investment Co. sold the properties.
Totaling approximately 1 million square feet of rentable space, the three Dallas acquisitions include:
- Energy Square I, a 14-story tower at 4925 Greenville Ave., with 254,338 square feet of rentable space.
- Energy Square II, a 16-story tower at 4849 Greenville Ave., with 357,626 square feet of rentable space.
- Energy Square III, a 16-story tower at 6688 North Central Expressway, with 296,624 square feet of rentable space.
In Chicago and its surroundings, Younan’s four new acquisitions total approximately 1.1 million square feet with:
- 1600 Corporate Center, a 12-story, class A office building at 1600 East Golf Road.
- Bannockburn Corporate Center, a three-story, class A office building at 3000 Lakeside Drive in Bannockburn.
- Kensington Corporate Center, a four-story, class A office building at 1160 Feehanville Drive in Mount Prospect with 85,487 rentable square feet.
- 200 North La Salle, a 30-story skyscraper located at 200 North La Salle in The Loop, the historic center of downtown Chicago. The final Chicago acquisition is slated to close in November.
Los Angeles-based Younan Properties Inc. is a real estate investment group, specializes in acquiring class A office properties in high-growth markets throughout the United States.
