Younan Properties Inc. today announced it has completed its largest single-asset acquisition since the firm’s founding with the purchase of the 50-story Thanksgiving Tower in Dallas, Texas.

The acquisition, the price of which was not disclosed, comprises 1.4 million square feet of class A office space located at 1601 Elm St.

Morgan Stanley sold the building, which was built in 1982 and features a distinctive “sawtooth” exterior that allows for 16 corner offices on each floor. At the time of sale, the property was 60 percent occupied by long-term tenants that included Hunt Petroleum, Gardere Wynne Sewell and Comerica Bank.

This purchase brings Younan Properties’ office holdings in Dallas to 13, totaling 6.2 million square feet of class A space. Nationwide, its office portfolio now encompasses 26 properties totaling 9 million square feet of space. In 2007, Younan aims to double its 2006 acquisition activity, as it plans to invest $2 billion to $3 billion in commercial real estate.

Show Comments Hide 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
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
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
×