Los Angeles, California (September 28, 2021)
Cohen Asset Management, Inc. (the “Company” or “CAM”) today announced the acquisition of a 100% leased, 65,715 square foot super-infill logistics facility located just outside New York City at 111-135 Thomas McGovern Drive in Jersey City, New Jersey on an all-cash basis.
The warehouse sits on a 3.4-acre site at 111 Thomas McGovern Drive and is 100% leased to Nestle Waters, one of the nation’s largest consumer bottled water companies, which distributes the Poland Spring, Deer Park, and Arrowhead brands among others. The property accommodates ample parking for up to 50 box trucks and sprinter vans and features 21-foot clear heights, 11 dock doors, and four drive-in doors.
Jason Haas, the Company’s Co-Chief Investment Officer stated, “CAM has a 20+ year history of owning and operating industrial and logistics properties within the New Jersey marketplace with close to 7-million square feet acquired year to date, and we are excited to add this highly functional property within the coveted Jersey City location to our portfolio.” Mr. Haas went on to say, “We believe this property is well-positioned to benefit from the continued supply/demand imbalance – both from investors and occupiers – that exists for industrial and logistics properties in prime infill New Jersey locations.” Mr. Haas went on to say, “Our mission is to create long‐term value as well as near term income returns for our investors, and this property will be a prominent addition to our portfolio as we continue to pursue other strategic investment opportunities in the New Jersey marketplace”.
About Cohen Asset Management
Cohen Asset Management, Inc. is a private real estate investment firm that is headquartered in Southern California with regional offices in Phoenix, Arizona, Dallas, Texas, and Northern New Jersey. The Company 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 Company’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.