Los Angeles, California (December 20, 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 Jersey Industrial Capital LLC, an affiliate of CAM acquired a 100% leased, Class A industrial building comprised of approximately 73,000 square feet situated on approximately 4.3 acres of land (~37% site coverage ratio) located at 7125 West Sherman Street in Phoenix, Arizona. The property was acquired as a long-term sale-leaseback with AZ Partsmaster who has occupied the property since it was built in 2014.
Brandon Delf, Executive Vice President and CIO stated, “We are excited to add another 100% leased modern industrial building to our growing portfolio as we continue to expand our footprint in the Phoenix marketplace with this acquisition. We’ve owned over 50 buildings in Phoenix and in the current investment cycle have acquired 6+ million square feet of space in the greater Phoenix marketplace.” 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”.