Los Angeles, California (July 29, 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 an affiliate of CAM acquired a state-of-the-art logistics building comprised of approximately 330,000 square feet situated on approximately 22 acres of land located at 200 N. 99th Avenue in Tolleson, Arizona. The property is 100% leased to two tenants with long term leases in place and is in the highly desirable Southwest Valley of the Phoenix MSA featuring regional and international tenants from a diverse mix of industries. CAM has owned over 50 buildings in Phoenix and in the current investment cycle has acquired 6+ million square feet of space in the greater Phoenix marketplace and currently has a footprint of 25 buildings and 68 acres of industrial zoned land.
Brandon Delf, Executive Vice President and CIO stated, “We are very excited to add Tolleson Logistics Center to our Phoenix Portfolio with this acquisition, and we will continue to aggressively seek opportunities to acquire properties possessing superior locations and functionality for the markets they serve”. Mr. Delf went on to say, “This acquisition is the latest example of our ability to source durable passive income streams derived from quality industrial improvements in a competitive environment”.