Dallas, Other Real Estate Markets Going Strong For Younan Properties

Now is as good a time as any to be relocating your business to Dallas. This and other Texas metropolitan areas, which haven't seen as much damage from the recession as other major U.S. markets, still are thriving, and companies who want to relocate have a number of high-quality, well-situated properties in the Metroplex. There also are commercial real estate investment companies who are focusing on properties in these areas that already are built but are not renting out at their full capacity.

One of those properties, the KPMG Centre, has 800,000 square feet spread out over a 34-story skyscraper in the heart of Dallas. It was built in 1980 and renovated recently; it is well known for its sloping exterior glass walls and located close to the arts district, a transit station, both Dallas-Fort Worth airports and several major roadways and interchanges. It houses several prestigious tenants and commands a view of the Dallas Museum of Art, Victory Park and The Nasher Sculpture Garden. These and other properties offer similar amenities in good locations, making them very attractive for tenants.

Younan Properties, which is based out of Los Angeles, is one of those commercial real estate investment companies focused on revitalizing underperforming properties. The company has office space available for lease in Los Angeles, Phoenix, Chicago, Houston and Dallas-Fort Worth; all of it is properties that had large spaces sitting empty upon acquisition. That trend is being turned around; in Dallas the rate of occupancy has increased significantly throughout the last couple of years.

Not every market is a Texas market, but Phoenix, Chicago and Los Angeles also offer excellent opportunities to relocate as companies look to the future and the opportunities it holds. Los Angeles and Chicago remain some of the biggest markets in the world, and Phoenix, despite the hit it took when the housing bubble burst, should be in a good position to continue growing quickly both residentially and commercially. These spaces, such as the recently acquired WarnerView Corporate Center in Los Angeles, mean tenants get a large number of options when it comes to square footage and floor layout. Younan also focuses on running its properties more efficiently and providing what businesses need to do their work, all while being responsive to the tenants in an effort to keep them there and happy.

To do that, they've built a crackerjack executive and leasing team, including some of the newest hires. Robert Peddicord has been hired as the new chief operating officer, Terry Smolich was hired as the new vice president of human resources, Brian Hennessey as the vice president for leasing and Sarah Sadat as the director of finance and treasurer. These and the rest of Younan Properties' human resources contribute to the company's combined expertise in leasing, financing, marketing, property acquisition, asset management, facility operations, property redevelopment and commercial real estate.

This way of doing business has created ways to bring value and economic development into the community too. A business leasing space in one of these 35 properties throughout the Midwest and western United States invites it employees and customers to do business in attractive, eye-catching buildings that are centrally located, convenient and pleasant. The neighborhoods around these properties as well as the city as a whole benefit because this space that had been unoccupied now will bring people in, and that means more people who do their shopping, dining and entertainment in the area. All that extra activity also should make these neighborhoods more fun to walk around and be in, which should result in less crime.