El Segundo, California (PRWEB) September 16, 2008
Cohen Asset Management, Inc., a Los Angeles-based private real estate investment firm, on behalf of CAM Core+ Fund 1 LLC, entered into a strategic joint venture with Heartland Investments, a subsidiary of NSB, Inc., to acquire 2355 Utah Avenue, a 42,000-square-foot multi industrial flex property located in El Segundo, CA.
The infill location has an industrial availability of less than 5% and has long been the location of choice for defense-related industries in Southern California. The changing economic landscape and zoning overlays has brought creative office space users to El Segundo, creating repositioning opportunities for existing industrial assets.
Cohen Asset Management, Inc., a private real estate investment firm, acquired 2355 Utah Avenue because it provides an excellent opportunity for the value-add active asset management that the CAM Core+ Fund 1 LLC is well known for. The property is being repositioned and will become part of a larger multi-tenant creative office campus being developed by the joint venture.
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. Commercial and industrial real estate investment firm Cohen Asset Management, Inc. is an active operator and investor of 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 real estate investment firm's 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.