Los Angeles, California (November 1, 2022)
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, announced the acquisition of a recently constructed, 221,393 square foot multi-tenant industrial and logistics facility. The property is located at located at 606 West Road in Houston, Texas within Pinto Business Park, one of the premier industrial parks in the Houston metro area. The property is currently 100% leased to three well established tenants with in-place rents that CAM believes are approximately 15% below market.
Jason Haas, the Company’s Co-Chief Investment Officer stated, “We are excited to add a fully leased, multi-tenant industrial and logistics facility to our growing portfolio as we continue to expand our footprint in the Houston marketplace with over 7 million square feet currently under management in Texas”. 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 Class-A industrial and logistics properties in prime, infill locations; and our mission is to create long‐term value as well as near term income returns for our investors. This property will be a prominent addition to our portfolio as we continue to pursue other strategic investment opportunities in the Houston and Dallas-Ft. Worth markets”.
Cohen Asset Management is a premier private real estate investment firm that is headquartered in Southern California with regional offices 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 its investments.