Los Angeles, California (May 20, 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 an infill industrial building comprised of 85,259 square feet situated on 7.5 acres of leased land (~26% site coverage) in close proximity to Sky Harbor International Airport.
CAM repositioned and released this asset after overseeing a multi-million-dollar renovation to a former data center space. 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 after completing a comprehensive value-added investment strategy for this asset. The outperformance on this building reflects the combined efforts of our entire team and highlights the strong fundamentals in the Phoenix, Arizona marketplace. From purchase to disposition, the investment exceeded our return expectations.” 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.