Los Angeles, California (May 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 an affiliate of CAM acquired a 100% leased industrial building comprised of approximately 40,000 square feet situated on approximately 2.91 acres of land (~31% site coverage ratio) located at 9331 Santa Fe Springs Road in Santa Fe Springs, California. The property is 100% leased to MultAlloy, a leading supplier of a breadth of products made from stainless steel and other metal alloys.
Maxx Cohen, Vice President of Acquisitions stated, “We are excited to add this fully leased and functional industrial building to our Southern California portfolio, which we anticipate continuing to grow in the coming years. We believe the investment provides a compelling opportunity to collect stable cash returns with the ability to create significant additional value upon expiration of the existing below market lease.” Mr. Cohen went on to state, “Our mission is to create long‐term value as well as near term income returns for our investors, which we believe this investment accomplishes, as we continue to pursue strategic investment opportunities in the marketplace.”
This transaction is consistent with CAM’s overall investment strategy which seeks investments in functional industrial assets in its target markets that provide stable, recurring cash flow coupled with opportunities to create additional value.