News

784,000 Square Foot Industrial Portfolio in Hebron, Kentucky Changes Hands  
Hebron, Kentucky (June 11, 2007)
 
Colliers Turley Martin Tucker has represented a joint venture between INVESCO Real Estate, Park West Industrial I, Inc. and Park West Industrial II, Inc. in the sale of a two building portfolio totaling 784,000 square feet to Cohen Asset Management, Inc. The two properties are located in Hebron, Kentucky in the Park West International industrial park along Interstate 275 near the Cincinnati/Northern Kentucky International Airport.
 
The two properties are single-tenant warehouse and distribution facilities built in 1999 and 2000. The buildings are comprised of 300,000 square feet and 484,000 square feet, respectively, with 32 foot and 28 foot clear heights and cross docked loading. The properties are exceptionally well located benefiting from a best-in-class highway location and proximity to an international airport. Major tenants included United Parcel Service, L’Oreal, and Amazon.com.
 
The properties were purchased by Cohen Asset Management, Inc., on behalf of CAM Core + Fund 1 LLC, a Los Angeles based private real estate investment group. Tom Powers of Colliers Turley Martin Tucker represented the seller.
 
About Cohen
Cohen Asset Management, Inc., ("CAM"), is a private real estate investment firm. The firm's relationships extend to high net worth individuals, institutional investors and domestic business entities. Cohen Asset Management, Inc. is an active operator and investor of real estate assets and has a well-established reputation as a value added investor focusing on real estate opportunities that are inefficiently priced due to a variety of circumstances such as vacancies, rollover risk, sub-optimal management, inefficient current use, deferred maintenance, long-term undervalued leases or other unfavorable property and market conditions.

 

Forward looking Statement

Except for the historical facts, the statements in this press release regarding Cohen’s business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on past forward-looking statements to anticipate future results or trends. Except as required by law, we assume no obligation to update any such forward-looking statements.