Leasing Team Awarded Assignment Due to Proven Experience and Market Success
January 21, 2021
Houston – Transwestern Real Estate Services (TRS) announces it has been engaged by Younan Properties Inc. to provide leasing services for Two Westlake, a 17-story, 454,843-square-foot building at 580 Westlake Park Blvd. in Houston’s Energy Corridor submarket. Transwestern’s Executive Vice President Michelle Wogan, Vice President Evelyn Ward, and Senior Associate Paula Musa will represent the building owner in leasing efforts.
“We are very excited to reposition this building in the market with the upcoming renovations,” said Zaya S. Younan, CEO of Younan Properties. “With the largest block of Class A space in the Energy Corridor, we are motivated to lease space anywhere from 10,000 square feet and up. There are several full floors that are in move-in condition, and the top two floors will be renovated to showcase our new building standards with open and private office concepts.”
Two Westlake is one of the few properties in Houston with more than 400,000 square feet available and presents a value-add opportunity in the market for a user that wants Class A space with competitive pricing. The building is adjacent to Terry Hershey Park with hike and bike trails and provides great visibility and easy ingress/egress to Interstate 10, Highway 6 and Beltway 8.
The property boasts a campus environment with lush outdoor green space, on-site management, 24/7 on-site security and key card access. Amenities include a fitness center with showers and lockers, a full-service deli, a conference and training center, and a grab-and-go café. Plans for the building include full renovations to the common areas, the addition of a tenant lounge, and move-in ready spaces available for lease to create a world-class working environment for tenants. The renovation project is already underway and will be completed by the end of May.
Two Westlake was previously owned by Rialto Capital Management, which sold the property to Younan Properties in December 2020.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
About Younan Properties
Younan Properties, Inc., 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 45 million square feet of properties, with completed transactions of over $10.2 billion. Younan Properties is a subsidiary of Younan Company, a global, private equity firm that specializes in the acquisitions and management of various assets and companies in the luxury consumer space. 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.