Los Angeles, California (November 30, 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 sale of a portfolio of three single-tenant high-tech industrial facilities comprised of 217,000 square feet located on 13 acres of land (~38% site coverage) in Metro Phoenix. Two of the highly improved properties reside directly south of the Sky Harbor International Airport within the 300-acre Southbank Business Park and one property resides within the Broadway Industrial Park and has excellent access to Interstate 10 and SR-143.
CAM positioned the 100% leased portfolio for sale after executing new multi-year leases with credit tenants. This sale is consistent with CAM’s overall investment strategy which seeks opportunities to create additional value through its proven effective active asset management approach while optimizing disposition timing.
Brandon Delf, Co-Chief Investment Officer, stated, “We are excited to have closed this sale to an institutional investor after completing a comprehensive value-added investment strategy for the portfolio. The outperformance on these assets reflects the efforts of our entire team and highlights the strong fundamentals in the Phoenix, Arizona marketplace that our research and investment team identified in targeting the Phoenix, Arizona market for investment. From purchase to disposition, the investment achieved our goal of providing investors a stable, durable-recurring stream of passive income over the hold period and executing a sale to optimize disposition timing in this favorable capital markets environment for high quality industrial properties.” Mr. Delf went on to state, “Executing dispositions at premium pricing is indicative of the value-add that CAM brings to its investors.”
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 Phoenix, Arizona, Dallas Texas 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.