Los Angeles, California (March 31, 2019)
Cohen Asset Management, Inc. (the “Company” or “CAM)”, a private real estate investment firm focused on owning and operating industrial properties in select Target Markets, today announced that Cam Investment 380 LLC, an affiliate of CAM acquired a 100% leased, Class A three building portfolio comprised of approximately 230,000 square feet situated on approximately 18 acres of land located at 3545 S 28th St in Phoenix, Arizona. The acquisition also included an additional 2.1 acres of unimproved land for future development. The property is 100% leased to four tenants with long term leases in place and is located proximate to the Phoenix SkyHarbor Airport with tremendous visibility and freeway frontage on the Interstate 10 Freeway.
Brandon Delf, Chief Investment Officer stated, “With this acquisition we are excited to add these fully leased modern and functional industrial buildings to our growing portfolio.” “We intend to continue our expansion and industrial footprint in the high-growth Phoenix marketplace throughout the balance of 2019.” Mr. Delf went on to state, “Our mission is to create long‐term value as well as near term income returns for our investors, and this project will be a prominent addition to our portfolio as we continue to pursue other strategic investment opportunities in the Phoenix marketplace”.
This transaction is consistent with Cohen’s overall investment strategy which seeks stable and durable cash flow coupled with opportunities to create additional value through its proven effective active asset management approach.