Bedford, TX (PRWEB) July 22, 2008
Reliance Parkway Capital LP, an affiliate of Cohen Asset Management, Inc., has sold 2100 Reliance Parkway, a 165,000 square foot single tenant warehouse building located in the Dallas/Fort Worth industrial market. This industrial real estate sale closed on June 26, 2008 to a local Dallas-based user. Tom Smolik of The Industrial Group represented the Seller in the industrial real estate transaction.
The industrial real estate property was acquired by Cohen Asset Management, Inc. on behalf of Reliance Parkway Capital LP in February of 2004 as part of a sale-leaseback transaction with Marconi Communications ("Marconi"). With Marconi only offering a four-year lease structure the company was able to purchase this industrial real estate asset on an opportunistic basis. Extensive capital improvements and refurbishment monies were spent at the end of the lease term, enabling Cohen Asset Management, Inc. to market the property to users, thereby obtaining a higher sales price.
Cohen Asset Management, Inc., ("CAM"), is a private commercial and industrial real estate investment firm. The firm's relationships extend to high net worth individuals, institutional investors and domestic business entities. Cohen Asset Management, Inc. 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.
Forward looking Statement
Except for the historical facts, the statements in this press release regarding CAM's business activities are forward-looking statements based on the beliefs of, assumptions made by, and information currently available to us about known and unknown risks, trends, uncertainties and factors that are beyond our control or ability to predict. Although we believe that our assumptions are reasonable, they are not guarantees of future performance and some will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material. Accordingly, investors should use caution in relying on past forward-looking statements to anticipate future results or trends. Except as required by law, we assume no obligation to update any such forward-looking statements.