News

Cohen Asset Management, Inc. Completes Sale of another Southern California Industrial Property  
Los Angeles, California (September 7, 2011)
 
A real estate investment made in late 2010 is paying off handsomely for Cohen Asset Management, Inc., a Los Angeles based industrial real estate investment firm. The transaction on behalf of a Cohen affiliated entity, PSIP CAM Brea LLC, represents the third building in the Orange County submarket that was repositioned and sold this year on behalf of the Cohen team. The industrial building located at 1425 Moonstone Street, acquired as part of a six property portfolio, was sold to an owner user who intends to utilize the property to support its own business. 
 
“We’re excited about our prospects in Southern California as more opportunities present themselves to operators, such as ourselves, who can react nimbly with the expertise to reposition industrial assets while targeting individual owner/user sales. Assets such as the Brea Canyon Commerce Center provide an excellent opportunity for value-added, active asset management at which Cohen excels” stated Jason Haas, the firm’s Chief Operating Officer.
 
The substantial earnings realized in this sale are a credit to the fine work of Cohen’s asset management team who completed key improvements that commanded premium pricing at disposition. Our asset management team’s value-added improvements included relocating lot lines to create secured and private yard space as well as completing a general modernization and facelift for the project’s exterior.
 
As with previous owner user sales completed in the Brea Commerce Center portfolio, the functionality and infill location of this property when combined with the dearth of comparable, available facilities contributed to the strong interest shown from several prospective buyers in the marketplace and the efficient execution of the sale. “On behalf of our investors, we want to thank our listing team of Tom Dorman at CB Richard Ellis and Ian Britton of Colliers International for helping to promote the Brea Canyon Commerce Center and for working with the buyer’s representatives at Lee & Associates for effecting this transaction”, commented Brandon Delf, the firm’s Chief Investment Officer. 
 
 
About Cohen Asset Management®
Cohen Asset Management, Inc., is a private commercial and industrial real estate investment firm. The firm’s relationships extend to high net worth individuals, institutional investors and domestic business entities. The private 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.