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Private real estate firm, Cohen Asset Management, Inc. announces the disposition of trophy industrial asset – a 305,350 square foot, 100% leased industrial building in Vernon, California

Los Angeles, California (July 15, 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 that CAM sold a brand new, state-of-the art industrial building located in the heart of Los Angeles at 5300 Boyle Avenue in Vernon, California.  Recently completed by CAM on a build-to-suit basis, the property is comprised of approximately 305,350 square feet situated on approximately 14.53 acres of land (~47% site coverage ratio). The property is 100% leased for 20 years to rPlanet Earth, a “green tech” company focused on the recycling of post-consumer plastics to produce high quality packaging with the lowest carbon footprint.

Jason Haas, Chief Operating Officer, stated, “We are excited to have closed this sale to a prominent institutional investor and to have successfully executed our investment strategy for this trophy industrial property.  The property was one of the largest industrial properties developed in infill Los Angeles in some time and provided a unique opportunity to acquire a brand new, Class A, logistics building in the heart of Los Angeles.” Mr. Haas went on to state, “CAM has a long history of owning and operating industrial property in infill Los Angeles locations and we were excited to have an opportunity to go back to our roots and develop a state-of-the-art industrial property in Vernon.”

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.