News

Cohen Asset Management Leasing Activity; Q4 2012  
Los Angeles, California (January 22, 2013)
 
Lease extensions in 2012 indicate broad based market demand for quality industrial space. Cohen Asset Management, an owner/operator of net leased income-producing industrial real estate, signed seventeen leases (new, expansions, and extensions) during the 4th Quarter totaling approximately 626,131 square feet. The significant contributing lease transactions are listed below.


Newark, California
Cohen Asset Management, Inc., a Los Angeles-based private equity real estate investment firm, on behalf of Newark Eureka Industrial Capital LLC entered into a lease extension with Socket Mobile, Inc. for approximately 37,131 square feet at 39700 Eureka Drive, Newark, California. Socket Mobile, Inc. is a technology company that offers mobile business solutions to help companies such as a durable and customizable handheld computer, award winning software utilities and all essential barcode, RFID, POS and data communication peripherals.

King of Prussia, Pennsylvania
Cohen Asset Management, Inc., a Los Angeles-based private equity real estate investment firm, on behalf of CAM 820 Third Avenue LLC, entered into a lease extension with GlaxoSmithKline LLC for approximately 56,000 square feet at 820 Third Ave, King of Prussia, PA. GlaxoSmithKline is a science-led global healthcare company that researches and develops a broad range of innovative medicines and brands. Jim McCahon, Jones Lang LaSalle represented the tenant and Kevin Flynn Jr., The Flynn Company, represented the landlord in the industrial real estate transaction.

Allentown, Pennsylvania 
Cohen Asset Management, Inc., a Los Angeles-based private equity real estate investment firm, on behalf of CAM 7020 Snowdrift LLC, entered into a lease extension with Cellular Concrete, a leader in the production and installation of foam concrete, for approximately 6,390 square feet at 7020 Snowdrift Road, Allentown, PA. Allentown, Pennsylvania Cohen Asset Management, Inc., a Los Angeles-based private equity real estate investment firm, on behalf of 6755 Snowdrift Road Industrial Capital LLC entered into a lease extension with Continental Automotive Systems U.S. Inc., for 125,000 square feet at 6755 Snowdrift Road, Allentown, Pennsylvania. Continental Automotive Systems U.S., Inc. is a leading supplier of brake systems, system components for powertrains and chassis, vehicle electronics and tires.

Coppell, Texas
Cohen Asset Management, Inc., a Los Angeles-based private equity real estate investment firm, on behalf of CAM 601 Canyon LLC, entered into a lease extension with Kings III of America, Inc., for approximately 26,781 square feet at 751 Canyon Drive, Coppell, TX. Kings III of America is the nation’s leading provider of emergency communication solutions. Jeff Ellerman, CB Richard Ellis represented the tenant and Michael Peinado, Lincoln Property Company, represented the landlord in the office real estate transaction.

Affiliated companies of Cohen Asset Management, Inc. signed thirteen leases in New Jersey during the 4th quarter of 2012 totaling 374,000 square feet. As of year-end the New Jersey industrial portfolio was 98% leased. Significant leasing activity included the following:

Edison, New Jersey
NJIND Talmadge Road LLC,, entered into a five (5) year lease extension with Distribution Management Group, a leading warehousing, distribution and logistics provider headquartered in Edison NJ for approximately 249,853 square feet at 145 Talmadge Road, Edison NJ. CBRE’s brokerage team of Scott Belfer, Nick Nitti, and Pat Riedel represented the landlord in the industrial real estate transaction.

Edison, New Jersey
NJIND Talmadge Road LLC, entered into a new seven year lease with Cross Dock Solutions, a full service third party logistics provider with climate controlled warehousing,, for approximately 32,654 square feet at 145 Talmadge Road in Edison, NJ. CBRE’s brokerage team of Scott Belfer, Nick Nitti, and Pat Riedel represented the landlord in the industrial real estate transaction.

South Brunswick, New Jersey
NJIND Melrich Road LLC, entered into a new seven year lease with Amcor Sunclipse North America, the North American unit of Amcor, the world’s largest packaging company, for approximately 43,313 square feet at 15 Melrich Road in South Brunswick, NJ. CBRE’s brokerage team of Scott Belfer, Nick Nitti, and Pat Riedel represented the landlord in the industrial real estate transaction. 

About Cohen™
Cohen Asset Management, Inc. is a private commercial and industrial real estate investment firm. The firm¹s relationships extend to high net worth individuals and institutional investors. The private equity real estate investment firm is an active operator and investor of commercial and industrial real estate assets and has a well-established reputation as a value added investor focusing on commercial and industrial 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.