Los Angeles, California (September 30, 2020)
Cohen Asset Management, Inc. (including its affiliates, the “Company” or “CAM)”, a private real estate investment firm focused on owning and operating industrial properties in select target markets, today announced the sale of a state of the art service and showroom facility leased to Tesla Motors, Inc. comprised of approximately 45,000 square feet located at 2077 East University Drive in the city of Tempe, Arizona. The conversion of this property from industrial to an automotive service and showroom facility benefited from its central location in Phoenix, given its proximity to Arizona State University. 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.
Brandon Delf, Co-Chief Investment Officer, stated, “We are excited to have closed this sale to a highly motivated buyer and to have achieved a terrific outcome for our investors. Executing opportunistic sales of buildings in this environment at premium pricing is indicative of the value-add that CAM brings to it investors. Further, with this sale, we look forward to recycling our capital in the Phoenix marketplace.”
Who We Are
Cohen Asset Management is a private real estate investment firm that is headquartered in Southern California with a regional office in Northern New Jersey. We have 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.
Our team of seasoned real estate professionals create value for our investors by establishing mutually rewarding relationships within the industrial real estate community in each of our Target Markets, particularly with tenants, brokers, sellers and ultimately the buyers of our real estate when we monetize investments.