Los Angeles, California (April 1, 2020)
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 Sabre-FWT Ventures LLC, an affiliate of CAM acquired on an off-market basis a 100% leased, industrial manufacturing and distribution facility comprised of eight buildings totaling approximately 328,000 square feet and situated on approximately 74.6 acres of land located in Kennedale, Texas (Ft. Worth MSA) at 5600, 5750, 5820 Interstate-20 and 1384 Gilman Road. The property is 100% leased to an affiliate of Sabre-FWT, a leader in the utility infrastructure sector, with a long term lease in place and is located between Ft. Worth and Dallas, at the convergence of four main highways (I-20, I-820, I-35 and US-287) which gives it excellent connectivity throughout the entire DFW metroplex, and makes the site attractive for future development.
Jason Haas, Vice President and COO stated, “We are excited to add a fully leased land banking play to our growing portfolio as we continue to expand our footprint in the Dallas- Fort Worth marketplace with this acquisition. We believe the investment provides a compelling core investment with an opportunity to create significant additional value given the long-term potential for higher use development. In growing our Dallas-Ft. Worth portfolio, we continue to leverage CAM’s well-established operational platform and deep local relationships to uncover attractive investment opportunities in the highly sought-after Dallas-Ft. Worth industrial market.” Mr. Haas 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 Dallas-Ft. Worth marketplace”.
This transaction is consistent with Cohen’s overall investment strategy which seeks stable, predictable cash flow coupled with opportunities to create additional value through its proven effective active asset management approach.