Private real estate investment firm Cohen Asset Management has assigned Lincoln Property Company (LPC) to manage a Phoenix industrial portfolio totaling 20 buildings and more than 3.5 million square feet. The assignment brings LPC’s Phoenix property management portfolio to 10.2 million square feet, ranking it among the Valley’s top property management firms.
“Cohen has trusted us with their Phoenix industrial holdings and we’ve pledged to manage their properties with a true owner’s mindset,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “We can do this because we ourselves are owners, with a unique owner’s understanding of how to create value through strong tenant relationships, strategic facilities management and asset enhancements that keep industrial buildings up to date and in high demand.”
“Phoenix has long been considered an ideal location for warehouse, distribution and flex industrial operations,” said Cohen Asset Management’s Executive Vice President Brandon Delf. “Lincoln is well-versed in this history and in the opportunities that it creates for the future. They will be an exceptional partner in creating long-term value and profitability for our Phoenix industrial portfolio.”
Buildings within the Cohen portfolio range from 42,281 to 466,418 square feet in locations across metro Phoenix. Together, they underscore Cohen’s focus on acquiring, owning, developing and actively managing a critical mass of industrial properties in select target U.S. markets that, in addition to Phoenix, include Northern and Southern California, Dallas-Fort Worth, Northern New Jersey and Eastern Pennsylvania.
“Cohen has identified Phoenix as a growth market and our activity and data trends that. Vacancy for Phoenix industrial product dropped to 7.5 percent in the first quarter and demand remains extremely high for well-managed buildings,” said Lincoln Property Company’s Director of Real Estate John Orsak. “In this kind of an environment, properties that stay modern and competitive will enjoy tremendous stability. Creating that kind of success is something that LPC excels at.”
The LPC Phoenix team consists of more than 40 real estate professionals, including an award-winning property management team responsible for more than 10 million square feet of office, industrial and retail space. This includes landmark and LEED certified projects such as Lincoln Logistics 40, Waypoint, 3131/3133 Camelback, Gainey Center, Biltmore Commerce Center, Promenade Corporate Center and 2777 Camelback.
To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.