ROC Bridge Acquires Younan West Loop with Unsolicited Offer

HOUSTON-Younan Properties Inc. along with JV partner Passco Companies LLC sold its 272,113-square-foot Younan West Loop to ROC Bridge Partners LLC of Salt Lake City. According to a press release announcing the transaction, ROC Bridge approached the Los Angeles-based Younan Properties with an unsolicited offer for the office building.

Formerly known as 1700 West Loop South, the office building in the Galleria submarket traded at a 6 cap rate which, according to seller chairman and CEO Zaya Younan, delivered “an attractive return to the Passco Younan Opportunity Fund investors and joint venture partner, Passco Companies LLC.” The office building’s occupancy was 79% at the time of sale.  Darrell Betts with Avison Young represented Younan Properties in the transaction.