Off-market Transaction Represents Firm’s Second Acquisition in the Market in the Past Three Months
Phoenix, Arizona – January 14th, 2016– Cohen Equities announced today that it has acquired Corporate Center, a 2-story, 109,322 square foot Class-A office building located at 10400 North 25th Avenue in Phoenix, Arizona. The acquisition marks Cohen Equities’ second deal in the submarket in the past three months. Darren Tappen and Peter Beauchamp of Kidder Matthews represented Cohen Equities in the $10.4 million off-market sale.
Corporate Center is located in the heart of the Metro Center submarket of Phoenix, AZ, alongside Interstate 17 providing prime exposure and freeway access just twenty-five minutes from Phoenix Sky Harbor International airport. The building is situated adjacent to the revamped 2,000,000 SF Metro Center Mall and surrounded by amenities.
Corporate Center is anchored by Avesis, whose parent company is Guardian Life Insurance. Cohen Equities has engaged Colliers International’s Keith Lambeth and Ryan Timpani to list the remaining 49% of the building for lease immediately.
“Cohen Equities is pleased to add Corporate Center to its roster of high-end office buildings,”
said Meir Cohen, Chairman and CEO of Cohen Equities. “We believe in the unique strength of the Phoenix market, and we’re looking forward to continuing to acquire well-positioned assets throughout the
region.”
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About Cohen Equities
Cohen Equities is a national real estate investment firm that pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. The company has successfully invested in and improved more than 9 million square feet of real estate across the United States. Led by Meir Cohen, a real estate veteran with more than 30 years of experience, Cohen Equities creates significant value through active management, leasing and repositioning activities. For more about Cohen Equities, please visit cohenequities.com.