Younan Properties Inc. this week announced the sale of Sepulveda Center, a 173,727-square-foot office building in Los Angeles.

The value of the transaction was $50.5 million.

Newport Beach, Calif.-based KBS Realty purchased the 12-story building, which is located at 3415 Sepulveda Blvd. Built in 1982, the all-glass building was 98 percent occupied at the time of sale by major tenants that include JAMDAT Mobile and Freeman, Freeman & Smiley.

Younan Properties had purchased the property in January 2004 for $27.5 million, according to a press statement.

“Within our first six months of ownership, we increased Sepulveda Center’s occupancy from 78 percent to 95 percent and transformed the property into a modern class A building while managing our operating expenses 30 percent below the previous owner, Equity Office Properties Trust,” said Zaya S. Younan, Chairman and CEO of Younan Properties

Los Angeles-based Younan Properties Inc. is a real estate investment group that specializes in acquiring class A office properties in high-growth markets throughout the United States.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Prepare for this fall with top agents & brokers at Connect Now this Tuesday.GET YOUR TICKET×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription