News

Cohen Asset Management, Inc., Announces the Disposition of an Industrial Property located in Southern California  
Los Angeles, California (November 23, 2011)
 
Cohen Asset Management, Inc., a Los Angeles based industrial and commercial real estate investment firm, announced the sale of 260 North Palm Street located in the Brea Canyon Commerce Center in the Brea submarket of Orange County, California. The institutional quality property was acquired by a private investor based in Southern California, which has plans to occupy the building in support of its own business. Within minutes of the Brea Mall, the infill location has long been the location of choice for many industries operating in North Orange County submarket of Southern California. 
 
Cohen Asset Management, a private real estate investment firm, acquired the property in 2010 as part of a six-property portfolio acquisition from the corporation previously utilizing the buildings for its manufacturing and distribution uses. Cohen immediately completed certain improvements focused on both functional and cosmetic upgrades and rebranded the portfolio as Brea Canyon Commerce Center with the goal of repositioning the assets for individual owner/user sales; providing an excellent opportunity for the value-added active asset management style at which Cohen Asset Management excels at. PSIP CAM Brea LLC, an affiliate of Cohen Asset Management, encouraged Bank of America to pre-screen and underwrite the Brea Canyon Commerce Center buildings for inclusion into their SBA program which has made it easier for new owner-users to procure loans in a timely fashion. The transaction is indicative of Cohen’s 25 year track record of sourcing off-market transactions as an owner and operator of industrial real estate.
 
 “With the completion of the disposition of this asset, we now have only two remaining buildings in the Orange County portfolio available for sale. Cohen Asset Management continues to seek real property investment opportunities in Southern California where our repositioning skills and active asset management will benefit the real estate, the community, and our investors” said Brandon Delf, CIO and Executive Vice President of Cohen Asset Management. 
 
Jason Haas, COO, said “We continue to make excellent progress on our strategic plan for the portfolio of assets we acquired in Brea. The contributions and sales of these assets reflect the diversity of our activities and the market's solid demand for quality industrial real estate.”
 
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.