LeSaint Grabs OH Industrial Property for $29M

LeSaint Venture LLC, an affiliate of industrial and commercial real estate investment firm Cohen Asset Management Inc., announced this week that it had purchased 8910 Le Saint Drive in Fairfield, OH for $29 million. The name of the seller or terms of the deal were not disclosed.

The industrial building sits in the Westchester submarket of Cincinnati, Ohio on 36 acres of land with over 700,000 square feet of space. The property was 100% leased at the time of sale to KAO USA Inc., operating out of the location for roughly 15 years, and Dawson Group Inc. Dawson Group extended its lease of 50,400 square feet of space in the building earlier this year, according to a Cincinnati Business Courier article. It is a nationwide transportation company that specializes in pharmaceutical, industrial and turnkey fulfillment solutions. Jeff Bender, executive managing director with DTZ in Cincinnati, represented the landlord in that deal.

"We are excited to maintain and expand our industrial footprint in Cincinnati with this acquisition, and we will continue to aggressively seek opportunities to acquire properties that possess superior locations and functionality for the markets they serve," said Brandon Delf, Executive Vice President and CIO of Cohen Asset Management in a statement.

For more news and information visit Blumberg Partners.

Avidan Sells NJ Industrial and Office Portfolio

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.