Cohen Asset Management Buys $35M Phoenix Property
- Mar 02, 2018
Cohen Asset Management Inc. has acquired Living Spaces Showroom and Distribution Center, a 437,234-square-foot, Class A industrial asset in Phoenix. JLL’s Capital Markets team completed the sale on behalf of the seller, Living Spaces. According to Yardi Matrix, the asset traded for $35 million.
Located at 6600 W. Latham St., the facility is next to Interstate 10 and provides easy access throughout the area. Constructed in 2014, the distribution building occupies 23.2 acres and includes 122,850 square feet of showroom. The facility offers dock leveler, dock bumpers, truck court and loading doors.
“We are excited to add a fully leased building with a renowned tenant and a long-term lease with limited rollover exposure to our growing portfolio as we continue to expand our footprint in the Phoenix marketplace,” said Brandon Delf, executive vice president & CIO of Cohen Asset Management, in prepared remarks.
Managing Directors Mark Detmer and Bo Mills, and Vice President Ryan Sitov led the JLL Capital Markets team on the sale. The team also worked with JLL Retail experts Executive Vice President Scott Kaplan and Senior Vice President Erik Westedt.
Image courtesy of Yardi Matrix