Los Angeles, CA, April 14, 2021 (GLOBE NEWSWIRE) -- As part of its ongoing expansion, Younan Properties has just acquired 60 & 100 Rancho Road, a rare boutique of executive office buildings located in Thousand Oaks, CA, one of Los Angeles’ most sought-after suburban neighborhoods. With an exceptional locational advantage, the property has immediate access to the 101 Highway and is just minutes from the 23 Highway, perfectly located in between the desirable Ventura and Los Angeles counties.
With over 1.5 acres of prime land just off of Thousand Oaks Blvd., this two-story complex is poised for repositioning. The property offers an exceptional floor plate flexibility, with various suite-sized options that maximize tenant reach to both office and retail usage. The well-positioned land provides the potential for future expansion and redevelopment, as Younan Properties already has plans to completely renovate the property’s exterior and interior, rebranding it as a “Class-A” asset.
Younan Company Chairman & CEO, Zaya S. Younan, commented, “The Southern California real estate market is one that we have been quickly expanding into because of the high demand for commercial spaces. This is an excellent property in a highly desirable location, as Thousand Oaks is one of the highest-density neighborhoods located next to the best restaurants, hotels, and shopping centers, making it the ideal tenant location.”
Younan Properties represented itself in the transaction. CBRE, led by Mark Shaffer and Gerard Poutier, represented the seller in the sale.
Younan concludes: “This is part of our ongoing expansion in the Southern California real estate market with value-added opportunities that possess significant upside potential. Our strategy is to add life to this asset with creative renovation plans and updated amenities for the entire community to enjoy. This property will be renamed “Younan Rancho Towncenter.”
ABOUT YOUNAN PROPERTIES
Younan Properties is a subsidiary of Younan Company, a global private equity firm with assets and operations in North America and Europe. Younan Company also owns La Grande Maison Younan Collection, a luxury hospitality division based in Europe.
Younan Properties is a privately held real estate investment and management company, specializing in the acquisition and management of Class A office properties and in strong growth markets throughout the U.S., including Houston, Chicago, Dallas, Los Angeles, Orange County, Phoenix and Colorado. Since inception, YPI has managed more than 200 transactions, having purchased more than 35 million square feet of properties, with completed transactions of over $6.5 billion. Known for its detailed, hands-on approach to improving operational efficiencies while maintaining top building standards for tenants, Younan Properties is full-service with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. Its senior management team has extensive commercial real estate experience in office, retail, and hospitality, with significant operational, asset management, leasing, finance, and transaction expertise. For more information, visit www.younanproperties.com.
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