Los Angeles, California (November 22, 2021)
Cohen Asset Management, Inc. (the “Company” or “CAM)”, a private real estate investment firm focused on owning and operating industrial and logistics properties in select target markets, today announced the acquisition of a 100% leased, Class A institutional quality logistics facility leased to a Fortune 500 tenant, comprised of 466,694 square feet and situated on approximately 46 acres of land (~23% site coverage ratio), located at 9081 West Jefferson Street in Tolleson, Arizona (Phoenix MSA). The cross docked facility includes state-of-the art features, including a significant number of loading doors (~1:3,000 square feet) with full dock packages, fully secured all-concrete truck courts, LED lighting, HVAC throughout, three sided loading, truck queuing lanes, 658 trailer stalls, and a low coverage ratio supporting a pre-planned 160,000 square foot building expansion or additional trailer parking. “We are excited to add another 100% fully leased building to our growing portfolio as we continue to expand our footprint in the Phoenix marketplace with this acquisition. Our mission is to create long‐term value as well as near term returns for our investors, and this project will be a marquee asset as we continue to pursue other strategic investment opportunities in the Phoenix marketplace”, stated Brandon Delf, Executive Vice President and Co-Chief Investment Officer. This transaction is consistent with Cohen’s overall investment strategy which seeks stable, durable cash flow coupled with opportunities to create additional value through its proven effective active asset management approach.
About Cohen Asset Management
Cohen Asset Management is a premier private real estate investment firm that is headquartered in Southern California with regional offices in in Phoenix, Dallas and Northern New Jersey. The firm has an established history as a prominent and active owner-operator spanning several decades with a focus on the industrial and logistics sector, including fulfillment, warehouse and distribution centers, manufacturing facilities and infill/last mile properties aimed at providing solutions for the growing 21st century e-commerce economy and global supply chain. The firm’s team of seasoned real estate professionals creates value for its investors and tenants by establishing mutually rewarding relationships within the real estate community and by taking a proactive, hands-on approach to all of its investments.