Terms of the Hankey purchase were not disclosed, but industry sources say the company paid just over $42 million for the 261,512-sf development at 13160 Mindanao Way and 4501, 4503 and 4505 Glencoe Ave. Younan Properties says it paid $28 million for the 172,000-sf Sepulveda Center, a class A building at 3415 Sepulveda Blvd. Both of the sales were brokered by the CB Richard Ellis team of David Doupé, Chris Houge, Lawrence Krasner and Rick Buckley.

Marina Business Center consists of four low-rise office/flex buildings adjacent to the Marina (90) Freeway in Marina del Rey. Constructed between 1981 and 1983, the buildings were 94% leased at the time of the sale to tenants including Nike, CancerVax, Tenet Heathcare and Cogent Communications.

In the Sepulveda Center transaction, new owner Younan describes the property as "strategically located at the Olympic Corridor." The office tower was 83% occupied at the time of purchase, but Zaya Younan, chairman and CEO of Younan Properties, says his company already has several tenants interested in expansion, which will bring the Sepulveda Center to 95% occupancy within the first three months. Existing tenants at the property include Network Associates, Countrywide Financial, Verizon, Freeman, Freeman & Smiley and the City of Los Angeles. Younan notes that the glass facade building overlooks the 405 Freeway and affords 360-degree views of the surrounding Los Angeles basin.

He says his company plans to upgrade and modernize the building exterior landscaping and most of the common areas. Younan specializes in acquiring, repositioning and managing office buildings throughout the country. Since its founding in January 2002, the company has acquired more than 25 office buildings throughout the US totaling more than 3.2 million sf and has sold 12 buildings totaling more than one million sf.