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Younan Properties Trades Warner Center Asset Again
Woodland Hills, CA-based Younan Properties divested Warnerview Corporate Center, a three-story 65,000-square-foot office property in the San Fernando Valley’s Warner Center to Dimtam, a private investor, for $14.5 million. Younan Properties has acquired and sold the same asset twice over the past decade.
It first bought the property located at 5959 Topanga Canyon Blvd. in 2004, and sold it less than 12 months later to Value Home Loan. Younan Properties acquired the under-valued asset again when it became available in 2009, and invested heavily in improvements to maintain its Class A status.
Younan Properties’ Zaya S. Younan said, “This is a high quality, Class A asset in an extremely strong submarket that has performed well for us. This property was sold significantly above its purchase price, which is indicative of the building’s quality and our operational performance.”
Coldwell Banker Commercial Advisors represented the buyer, while the seller was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
