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Phoenix & Southwest  + Phoenix  + Industrial  | 

Cohen Divests Metro PHX Portfolio for $45M

Los Angeles-based Cohen Asset Management sold a Class A industrial portfolio totaling 292,185 square feet in the Phoenix area to separate buyers for $45.35 million. The portfolio comprises two buildings in the Southwest Valley and Tempe submarkets.

The key asset in the portfolio was a 249,904-square-foot Class A warehouse/distribution facility at 8313 W. Latham St. (pictured). The single-tenant property was acquired by KKR for $31.85 million. The award-winning distribution center is fully leased on a long-term basis to Circle K.

The second asset was a 42,281-square-foot Class A industrial/showroom building located at 2077 E. University Dr. in Tempe. The single-tenant property is fully leased to a global electric vehicle and clean energy company. The asset was acquired by an unnamed California high-net worth family completing a 1031 exchange requirement that paid $13.50 million.

Cushman & Wakefield’s Will Strong and Greer Oliver represented the seller in the transactions.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition