News

Cohen Asset Management, Inc. Completes Sale of Two Southern California Industrial Properties  
Orange County, California (6/30/2011)
 
Cohen Asset Management, Inc., a Los Angeles based industrial and commercial real estate investment firm, has sold 1470 Moonstone Street and 1545 Moonstone Street, consisting of two industrial buildings located in the Brea submarket of Orange County.  The buildings were sold in separate transactions on behalf of PSIP CAM Brea LLC and closed escrow within the first six months of 2011. The buyers were private investors based in Southern California, both of which plan to utilize the properties to support their businesses. 
 
The two properties were acquired by Cohen Asset Management, Inc. on behalf of PSIP CAM Brea LLC in August of 2010 as part of a portfolio acquisition containing 6 industrial buildings located in the Brea submarket of North Orange County, California. At the time of acquisition, the properties were 100% leased on a short term basis, with the goal of repositioning the assets for individual owner/user sales; providing an excellent opportunity for value-added, active asset management at which Cohen excels. 
 
“Given the functionality and infill location of the properties, we are pleased at the sales activity and the strong interest shown from prospective buyers in the marketplace. On behalf of our investors, we want to thank our listing team of Tom Dorman at CBRE and Ian Britton of Colliers for helping to promote the Brea Canyon Commerce Center  and for working with the buyer’s representatives at Voit Commercial and Lee & Associates for effecting these transactions” commented Brandon Delf, CIO and Executive Vice President of Cohen Asset Management. 
 
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.