Los Angeles, California (September 24, 2019)
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 LEED certified, state of the art industrial distribution building located at 1635 South 43rd Avenue located in the Southwest submarket of Phoenix, Arizona. The property is comprised of approximately 394,775 square feet and situated on approximately 20.6 acres of land (~43% site coverage ratio). 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, Chief Investment Officer, stated, “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.”