Younan Properties expands Houston portfolio

Investment group purchases 260,000 square feet

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Younan Properties Inc. has acquired the 1010 Lamar office building and the historic 1111 Main Garage in the heart of Houston's Central Business District, from Realty Advisors of Texas. The value of the transaction was not disclosed. The office building includes 19 stories and 260,000 square feet of rentable space. The historic 1111 Main, formerly the home of Sakowitz Bros., Houston's signature retailer, is located across from the Houston Pavilions development, which is slated to open in 2008. Younan Properties represented itself in the transaction. Executive Director Ken Page and Scott Myers of Cushman & Wakefield of Texas, Inc. represented the seller. With this acquisition, Younan Properties holdings in Houston have grown to nearly 2 million square feet of Class A office space. Los Angeles-based Younan Properties is a privately held real estate investment group specializing in Class A office properties in high-growth markets throughout the United States....