Younan adds Houston high-rise to portfolio

Remains 'bullish' on city's office market
Published on Sep 26, 2007

Los Angeles-based Younan Properties has acquired its sixth Houston commercial property since June with the recent purchase of a 17-story high-rise office building. It brings the firm's holdings in the city to approximately 1.7 million square feet of class A office space. Chicago-based Wind Realty sold Two Westlake Park, a 381,327-square-foot building, for an undisclosed price. Situated in a 58-acre suburban office complex in west Houston encompassing three Hines-developed office buildings, Two Westlake Park was completed in 1982 and is located at 580 Westlake Park Blvd. At the time of sale, the property was 97 percent occupied with tenants that included multinational petroleum company Conoco-Phillips, global energy group BP and Merrill Lynch. Commenting on his firm's latest acquisition, Zaya S. Younan, chairman and CEO of Younan Properties Inc., said in a statement, "In less than three months, we have made significant progress toward our goal of acquiring more than 5 mil...

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