News

62,450 Square Foot Single Story Industrial Building Changes Hands  

Phoenix, Arizona (June 29, 2007)

Grubb & Ellis has represented Building Partnership One Corporation in the sale of a single story industrial building totaling 62,450 square feet to an Affiliate of Cohen Asset Management, Inc.  The property is located in the Southwest submarket, a prime industrial submarket in the Phoenix Metropolitan area.

Built in 2003 by Sun State Builders, one of the prominent design/build specialists in the Phoenix metropolitan area, the property features 24 foot clear height and extensive parking which includes 6 covered spaces.  The building is 100% occupied by Complete Door & Trim, Inc. and Heritage Custom Door & Millwork, Inc.

The property was purchased on behalf of Louisville Industrial Capital LLC, a Los Angeles based private investment group making their first major foray into the Phoenix, Arizona market.  Pete Klees of Grubb & Ellis 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.