Los Angeles, California (May 31, 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, today announced the sale of a three building portfolio comprising 230,385 square feet located on 19.0 acres of land in Metro Phoenix. The property resides in the Sky Harbor Airport submarket proximity to I-10 and Sky Harbor International Airport.
CAM positioned the 100% leased portfolio for sale after negotiating the purchase of the ground lease from the Arizona Department of Transportation. This sale is consistent with CAM’s overall investment strategy to maximize investor returns through hands-on effective active asset management and optimizing disposition timing.
Brandon Delf, Co-Chief Investment Officer, stated, “We are excited to have closed this sale after completing a comprehensive value-added investment strategy for the project. The outperformance on these assets reflects the expertise and efforts of our entire team and highlights the strong fundamentals in Phoenix, Arizona. From purchase to disposition, the investment achieved our goal of providing investors a stable, durable-recurring stream of passive income over the hold period while maximizing the total return by selling into 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 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.