Younan Properties Inc., a privately held real estate investment firm, has added two office buildings to its expanding Houston portfolio, the company said today.
Younan has acquired 1700 West Loop South in the Galleria submarket and Shepherd Place, just south of River Oaks in Houston. The value of the transaction was not disclosed.
Situated in Greater Uptown on Houston’s West Side, 1700 West Loop South is a 15-story office building completed in 1980, offering 253,135 square feet of class A space located along Loop 610 in the Galleria area.
The property was fully occupied at the time of purchase, and tenants include Christus Healthcare and Tulane University’s Houston campus.
Shepherd Place, a 14-story office building, is located at 2323 South Shepherd Street on the edge of River Oaks, an exclusive residential neighborhood in Central West Houston, slightly east of the Galleria area. Built in 1984, it contains 118,000 square feet and was 97 percent occupied at the time of purchase. Its largest tenant is the U.S. Customs office.
Younan Properties represented itself in the transactions. Dan Miller of Holliday Fenoglio Fowler, L.P. represented the seller, Chicago-based CMD Realty Investors.