Cohen Asset Management, Inc., a private commercial and industrial real estate investment firm, announced that an affiliate had acquired a nine building portfolio of industrial and office properties in northern New Jersey from Avidan Management. According to a CoStar report, the pricepoint of the deal was not disclosed, but that the HFF investment sales team represented Avidan in the transaction.
The portfolio, comprised of approximately 2.6 million square feet of warehouse and office space primarily in port-centric locations, represents one of the largest acquisitions of industrial properties in Northern New Jersey in many years. The purchase is part of a series of transactions that Cohen has completed on both the east and west coast over the past year and is reflective of Cohen's ability to source transactions through its longstanding operator model.
"As previously outlined, one of our top priorities is to grow our East Coast presence," commented Bradley Cohen, Cohen's President and CEO. This transaction highlights Cohen Asset Management's commitment to our target markets and our ability to establish a concentrated ownership position by assembling a critical mass of high quality, functional industrial real estate. Cohen went on to continue saying, "With this acquisition, we are making significant progress towards achieving our strategic objectives."
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment