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| 43rd Avenue Logistics Center, Phoenix, AZ |
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| Paul Brindley |
LOS ANGELES, CA – HFF announced it has secured joint venture
equity for the acquisition of 43rd Avenue Logistics Center, a new
state-of-the-art, 394,775-square-foot industrial facility located in Phoenix,
Arizona.
HFF
worked on behalf of the buyer, Cohen Asset Management, in arranging the joint
venture equity in an off market transaction.
Equity proceeds were used to purchase the property.
43rd Avenue Logistics Center is located
in the southwest Phoenix industrial area, a warehouse district popular with
large and smaller scale distribution and manufacturing companies.
The property has
rail access and is situated close to Interstates 10 and 17 as well as State
Routes 143, 101, 202 and 303. Completed
in 2013, the property is LEED certified and was developed jointly with a local
prominent developer and a regional bank that had previously foreclosed on the
site.
The
HFF team representing Cohen Asset Management was led by senior managing
director Paul Brindley senior managing director Wally Reid and
associate director Jeff Sause.
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| Wally Reid |
Cohen
Asset Management, Inc. is a private commercial and industrial real estate
investment firm.
Established in 1992 and strategically headquartered in
Southern California with a regional office in Northern New Jersey, Cohen Asset
Management, Inc. is a proven, national real estate owner and operator with a
primary focus on the industrial real estate sector.
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.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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