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PRIVATE REAL ESTATE FIRM, COHEN ASSET MANAGEMENT, INC. ANNOUNCES THE ACQUISITION OF THE TOLLESON BUSINESS CENTER IN TOLLESON (PHOENIX), ARIZONA  

Los Angeles, California (September 26, 2018)

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 CAM Investment 376 LLC acquired the Tolleson Business Center, two Class-A institutional quality industrial buildings comprised of approximately 153,927 square feet situated on approximately 10.3 acres of land (~34% site coverage ratio) located at 8399 W. Van Buren Street in Tolleson, AZ.  The properties are 91% leased to 11 tenants (ranging in size from approximately 3,800 square feet to approximately 22,000 square feet) all of whom have leases that, in CAM’s opinion, are at below market rents.  CAM anticipates that the near-term lease rollovers will create upside for the investment through anticipated higher market rental rates for such existing leases as well the lease-up of the one vacant unit.

“We are excited to add the Tolleson Business Center with such a prominent location on the west side to our growing industrial portfolio.  Focused on serving the needs of smaller tenants, Tolleson Business Center provides users of under 20,000 square feet an institutional corporate image with front parked office suites and the ability to have both grade level and dock high loading in an A+ location.

 

We are continuously seeking additional investments that showcase our commitment to owning the highest quality industrial projects in the region.    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 Phoenix portfolioToll”, stated Brandon Delf, Executive Vice President and CIO.   CAM’s portfolio in Phoenix with this transaction increases to twenty buildings comprised of approximately 4 million square feet and is consistent with Cohen’s overall investment strategy seeking stable, predictable cash flow coupled with opportunities to create additional value through its proven effective active asset management approach.

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. With a primary focus being the industrial sector, Cohen Asset Management has an established history as an active owner-operator that is comprised of a team of seasoned real estate professionals who 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 (our customers), brokers, sellers and ultimately the buyers of our real estate when we monetize investments.