Navigation Links
Younan Properties Announces Successful Financing of Scottsdale Shopping Center; Retail Promenade to be Renamed 7 Thousand Shea

Phoenix, AZ (PRWEB) September 12, 2013

Younan Properties, Inc., a full-service, national real estate owner and property manager of Class A buildings in Dallas, Houston, Los Angeles, Chicago and Phoenix, announced that it successfully completed the financing of its latest Class A acquisition in Scottsdale. The new 5-year, fixed rate loan was funded on September 6 by ReadyCap Commercial, LLC of Irvine, CA. Currently named Scottsdale Promenade, the 137,522 square foot retail lifestyle center will be rebranded as 7 Thousand Shea.

According to Zaya Younan, Chairman and CEO, "The financing of the shopping center takes advantage of the current favorable rate environment and reflects the overall improvement in the Phoenix market in general and the strong, underlying fundamentals of Scottsdale in particular. The new loan provides us additional resources to complete ongoing capital improvements, as well as funding for new leasing and tenant improvement costs to stabilize the property. We are excited to re-introduce 7 Thousand Shea to the community and solidify its retail position within the Scottsdale market."

"Since acquiring the shopping center in early April, several new tenants have been signed, increasing occupancy from 60% to 70%. I am confident that once the renovations are completed, 7 Thousand Shea will outperform the market in occupancy," Younan added.

According to ReadyCap Commercial's Joel Covington, VP CRE Lending - Greater Los Angeles, "Younan Properties understands the growth opportunities and market fundamentals of Scottsdale and greater Phoenix. The team is particularly adept at stabilizing assets quickly and repositioning them for solid growth. We anticipate a long and mutually beneficial relationship with Younan well into the future."

The name change to 7 Thousand Shea will take effect upon completion and installation of new monument signage. As part of the overall repositioning program, the property is undergoing significant capital improvements and upgrades including the reconfiguration of the main parking lot to improve traffic flow and visibility, new landscaping, painting and lighting upgrades.

The Class-A retail lifestyle center is located in Scottsdale, an affluent enclave of Phoenix where lease rates typically run more than 40% higher than those in Phoenix. Situated near the intersection of major thoroughfares East Shea Boulevard and North Scottsdale Road, the center is strategically positioned within Scottsdale’s renowned retail trade area, minutes north of Downtown Phoenix.

About Younan Properties
Younan Properties, Inc., is a privately held real estate investment and management company, specializing in acquiring and managing Class A office properties in strong growth markets throughout the United States including Dallas, Houston, Chicago, Los Angeles and Phoenix. Known for its detailed, hands-on approach to improving operational efficiencies, while maintaining top building standards for tenants, Younan's current portfolio consists of 15 office properties including one retail center in five top metro markets. Younan is a fully-integrated real estate investment company with in-house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing. For more information, visit

Read the full story at

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Metformin's Anti-Cancer Properties Clarified in an Obesity Cell Model of Pancreatic Cancer
2. Patent Issued for Apparel and Textile Fabric with Antimicrobial Properties
3. New studies explore mangos potential health-affirming properties
4. More evidence berries have health-promoting properties
5. Waterfront Properties’ Palm Beach Gardens Golf Community Debuts New Spa
6. Waterfront Properties Congratulates Champions of Charity from Admiral’s Cove, Willoughby Golf Club
7. Study: Research reveals protective properties of influenza vaccines
8. QCI Mold and Water Damage Now Distributes Hydroxyl Generators to Improve Air Quality in Commercial and Residential Properties
9. Diet Doc Weight Loss Plans Announces Inclusion of Mediterranean Diet, Now Found to Reduce the Risk of Memory & Cognitive Problems
10. 1-800-Medigap, Medicare Supplement Expert, Announces Its A+ Better Business Bureau Accreditation
11. Crawford Technologies Announces Partnership with Bell and Howell
Post Your Comments:
(Date:10/13/2017)... N.J. (PRWEB) , ... October 13, 2017 , ... The ... Holly Day Market. Featuring a collection of specialty vendors and unique items from across ... personalized and quality-focused health and wellness services offered by the VNA. The boutique ...
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... DevOps and Agile Software Development, has been awarded a contract by the Center ... Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies in ...
(Date:10/12/2017)... Orleans, LA (PRWEB) , ... October 12, 2017 , ... ... centers in the U.S., announced today its plans to open a flagship location in ... will occupy the former Rooms To Go store next to Office Depot in the ...
(Date:10/12/2017)... ... 12, 2017 , ... Information about the technology: , Otomagnetics ... enable prevention of a major side effect of chemotherapy in children. Cisplatin and ... For cisplatin, hearing loss is FDA listed on-label as a dose limiting toxicity. ...
(Date:10/12/2017)... ... October 12, 2017 , ... Women-owned ... Michigan’s 2017 Best and Brightest in Wellness® by Best and Brightest. OnSite Wellness ... on Friday, Oct. 20 from 7:30 a.m. to 2 p.m. at the Henry ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... DIEGO , Oct. 12, 2017 AVACEN ... recognized the company with their  2017 New Product Innovation Award ... based on extensive primary and secondary medical device market research ... Medical, through its first-to-market OTC, drug-free pain relief product, the ... unique approach to treating fibromyalgia widespread pain. ...
(Date:10/11/2017)... Texas , Oct. 11, 2017  True ... services, has amplified its effort during National Breast ... about hereditary cancer risks. ... of Clinical Oncology calculated that more than 10 ... have inherited mutations in BRCA1 or BRCA2 and have ...
(Date:10/5/2017)... Ill. , Oct. 5, 2017  In ... Association of Oral and Maxillofacial Surgeons (AAOMS) released ... opioids – to be used as a first-line ... pain. Recognizing ... the AAOMS White Paper "Opioid Prescribing: Acute and ...
Breaking Medicine Technology: