Los Angeles, CA (PRWEB) March 16, 2010
Virginia Industrial Capital LLC, an affiliate of industrial and commercial real estate investment firm Cohen Asset Management, Inc., closed on the sale of 802 Frith Drive, an approximate 630,000 square-foot industrial building located in Ridgeway, Virginia, near Greensboro, North Carolina on February 23, 2010. This asset represented one of several tertiary market properties purchased by affiliates of Cohen Asset Management during the years1997 - 2000 that were located in the Southeast U. S.
The multi-tenant single-story warehouse distribution facility is situated on approximately 70 acres. Industrial and commercial real estate investment firm Cohen Asset Management, Inc. elected to sell this asset as Virginia is no longer a Target Market in which the company is focusing its efforts. The disposition represents the final asset within the syndicated holdings of Virginia Industrial Capital LLC, an entity the company intends to close out in 2010.
Cohen Asset Management, Inc., ("CAM"), is a private industrial and commercial real estate investment firm. The firm's relationships extend to high net worth individuals, institutional investors and domestic business entities. Industrial and commercial real estate investment firm Cohen Asset Management, Inc. is an active operator and investor of industrial real estate assets and has a well-established reputation as a value-added investor focusing on industrial and commercial 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.