{"id":1004586786,"date":"2022-06-21T03:29:57","date_gmt":"2022-06-21T11:29:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004586786"},"modified":"2022-12-09T02:16:41","modified_gmt":"2022-12-09T10:16:41","slug":"cohen-asset-management-buys-suburban-phoenix-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/","title":{"rendered":"Cohen Asset Management Buys Suburban Phoenix Facility"},"content":{"rendered":"
\"Cohen<\/a>

2600 Miller Road. Image courtesy of Funko Inc.<\/p><\/div>\n

Cohen Asset Management<\/strong>, of Los Angeles, has acquired a newly completed, 862,622-square-foot logistics property at 2600 Miller Road in Buckeye, Ariz.<\/p>\n

The asset is fully leased to toy maker Funko Inc<\/strong>., of Everett, Wash. In early April, Funko announced that it was consolidating several distribution centers in Washington to this one distribution facility in Arizona.<\/p>\n

The acquisition\u2019s dollar amount was not disclosed, and Cohen Asset Management did not respond to Commercial Property Executive<\/em>\u2019s request for that and other information.<\/p>\n

\n

READ ALSO<\/strong>: What Rising Interest Rates Mean for Net Lease Investors<\/a><\/p>\n

\n

The Buckeye facility features an associate gym, green outdoor and indoor spaces, and a future retail outlet store for associates and the community. It will also include 1,500 solar panels covering more than 200 parking spaces for employees, visitors and customers, generating 1.24 million kilowatt-hours of power, according to Funko.<\/p>\n

In a prepared statement, Funko CEO Andrew Perlmutter noted that in 2021 the company surpassed $1 billion in revenue. The company is likely best known for its vinyl, square-headed Funko Pop! figurines of characters from Star Wars, Disney, Marvel, DC Comics, Harry Potter and other pop culture franchises.<\/p>\n

Desert heat<\/h2>\n

Barely a week ago, KORE Power<\/strong>, a Coeur d\u2019Alene, Idaho\u2013based maker of high-tech batteries, told Commercial Property Executive<\/em> it will break ground this fall on KOREPlex, a $1.25 billion gigafactory<\/a> in Buckeye.<\/p>\n

The metro Phoenix industrial space market had a record-setting year for net absorption in 2021, and it\u2019s already on pace to set a new record this year, with demand outrunning supply, according to a first-quarter report from CBRE<\/strong>.<\/p>\n

So far in 2022, the Southwest Valley submarket has been responsible for about two-thirds of both the industrial net absorption and the industrial product under construction<\/p>\n

The submarket\u2019s overall end-of-quarter vacancy was 3.3 percent, on an inventory of 138.3 million square feet. The average asking rent was $0.65 per square foot, NNN.<\/p>\n","protected":false},"excerpt":{"rendered":"

Toy maker Funko fully occupies the newly built logistics property in Buckeye, Ariz.<\/p>\n","protected":false},"author":882,"featured_media":1004586804,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,21742,1601,15],"tags":[32789,39193],"class_list":["post-1004586786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-cbre","tag-cohen-asset-management"],"acf":[],"yoast_head":"\nCohen Asset Management Buys Suburban Phoenix Facility - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Cohen Asset Management has acquired a newly completed logistics property at 2600 Miller Road in Buckeye, Ariz.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cohen Asset Management Buys Suburban Phoenix Facility\" \/>\n<meta property=\"og:description\" content=\"Cohen Asset Management has acquired a newly completed logistics property at 2600 Miller Road in Buckeye, Ariz.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-21T11:29:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:16:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/2600-Miller-Road-Buckeye-Ariz.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"832\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/\",\"name\":\"Cohen Asset Management Buys Suburban Phoenix Facility - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/2600-Miller-Road-Buckeye-Ariz.jpg\",\"datePublished\":\"2022-06-21T11:29:57+00:00\",\"dateModified\":\"2022-12-09T10:16:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Cohen Asset Management has acquired a newly completed logistics property at 2600 Miller Road in Buckeye, Ariz.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cohen-asset-management-buys-suburban-phoenix-facility\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/2600-Miller-Road-Buckeye-Ariz.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/2600-Miller-Road-Buckeye-Ariz.jpg\",\"width\":832,\"height\":600,\"caption\":\"2600 Miller Road. 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