In its largest acquisition to date, Woodland Hills, Calif.-based Younan Properties Inc. has acquired a portfolio of three class A office buildings totaling 1.1 million square feet in Dallas.
Equity Office Properties Trust sold the portfolio for a price of more than $90 million.
The new acquisitions bring Younan’s office building holdings in Texas to approximately 2.3 million square feet of Class A office space.
The new acquisitions include:
- North Central Plaza, a 16-story tower located at the southwest corner of the LBJ Freeway and North Central Expressway. The 346,575-square-foot building also includes parking for 1,100 vehicles. At closing, the property was 78 percent occupied with major tenants that include Snelling & Snelling, Marc USA, Trinity Consultant, Bridgefarmer & Associates Inc. and Interlink-Partners.
- Eighty-Eighty Central, a 17-story high-rise located in the heart of Dallas’ North Central Expressway submarket, just one block from a Dallas light rail system stop. The 283,707-square-foot structure includes a 12-level parking garage with space for 900 vehicles. At closing, the property was 85 percent occupied with major tenants that include Compass Bank, Health Texas Provider and Maynord Oil Co.
- 9400 Plaza, a 16-story office building located in the North Dallas area on North Central Expressway between Walnut Hill Lane and Park Lane. The 379,556-square-foot structure includes two secure garages that provide parking for 1,099 vehicles, in addition to 481 spaces in two surface lots. At closing, the building was 75 percent occupied with major tenants that include Milliman & Robertson, Benefit Partners, Promotion Network and Kennedy Wilson Properties.
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