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PRIVATE REAL ESTATE FIRM, COHEN ASSET MANAGEMENT, INC. ANNOUNCES THE ACQUISITION OF A 570,000 SQUARE FOOT, 100% LEASED INDUSTRIAL BUILDING IN EDISON, NEW JERSEY  

Los Angeles, California (November 15, 2018)

Cohen Asset Management, Inc. (the “Company” or “CAM)”, a private real estate investment firm focused on owning and operating industrial properties in select Target Markets, today announced that Middlesex Logistics Ownership LLC, an affiliate of CAM acquired a 100% leased, Class A industrial building comprised of  approximately 570,000 square feet situated on approximately 41 acres of land located at 549 Mill Road in Edison, New Jersey. The property is 100% leased to List Logistics through September 2026 at an in-place rental rate that, in CAM’s opinion, is approximately 25% below current market rents. List Logistics is a rapidly growing third-party logistics (“3PL”) provider based in the Northeast U.S. List specializes in providing 3PL and distribution for a range of products including electronics, building products, food and beverage.

Jason Haas, Executive Vice President and COO stated, “We are excited to add a fully leased modern warehouse/distribution building in an infill northern New Jersey location, within the Exit 10/I-287 industrial submarket, to our growing portfolio as we continue to expand our footprint in the New Jersey marketplace with this acquisition.  We believe the investment provides a compelling core investment with an opportunity to create significant additional value upon expiration of the below market lease.  In growing our New Jersey portfolio, we continue to leverage CAM’s well-established operational platform to uncover attractive investment opportunities in the highly sought-after New Jersey industrial market.” Mr. Haas went on to state, “Our mission is to create longā€term value as well as near term income returns for our investors, and this project will be a prominent addition to our portfolio of infill assets as we continue to pursue other strategic investment opportunities in the Northern New Jersey marketplace”. 

This transaction is consistent with Cohen’s overall investment strategy which seeks stable, predictable cash flow coupled with opportunities to create additional value through its proven effective active asset management approach.

Who We Are

Cohen Asset Management is a private real estate investment firm that is headquartered in Southern California with a regional office in Northern New Jersey. With a primary focus being the industrial sector, Cohen Asset Management has an established history as an active owner-operator that is comprised of a team of seasoned real estate professionals who create value for our investors by establishing mutually rewarding relationships within the industrial real estate community in each of our Target Markets, particularly with tenants (our customers), brokers, sellers and ultimately the buyers of our real estate when we monetize investments.