PHOENIX, Sept. 19, 2013 /PRNewswire/ -- Cole Real Estate
Investments, Inc. (NYSE: COLE), a market-leading net lease REIT,
announced on behalf of its private capital management business,
Cole Capital™, the acquisition of 12 single-tenant
office and industrial properties by Cole Corporate Income Trust,
Inc. (CCIT). The combined price of the acquisitions was
approximately $386.1 million, and
included corporate facilities in North
Carolina, Tennessee,
Virginia, Texas, New
Jersey, Nevada,
Arizona, California and Colorado.
(Logo:
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CCIT invests primarily in strategic single-tenant,
income-producing, necessity corporate properties leased to
creditworthy tenants under long-term net leases. Cole Corporate
Income Advisors, LLC, a subsidiary of Cole Real Estate Investments,
Inc., serves as external advisor to CCIT.
"The diversified industries, geographic locations, remaining
lease terms and strategic importance of the properties for the
tenants made these solid acquisition targets," said Thomas W. Roberts, executive vice president and
head of real estate investments at Cole Real Estate Investments,
Inc. "We continue to identify opportunities that meet our stringent
acquisitions criteria and satisfy our rigorous underwriting
processes, while building a high-quality portfolio of net-leased
office and industrial assets for CCIT."
AMAZON.COM DISTRIBUTION CENTERS – Nashville and Richmond MSAs
CCIT acquired two Amazon.com (A&P 'AA-') distribution
warehouses totaling more than 2 million combined square feet in
Murfreesboro, TN, and Chester, VA. The build-to-suit properties
serve as regional distribution centers for the world's largest
online retailer.
AT&T SERVICES FACILITY – Dallas-Ft. Worth MSA
CCIT
acquired a 199,248-square-foot, three-story office property located
in Plano, TX. The property serves
as an "AT&T Foundry" innovation center, an R&D facility
where AT&T (parent company S&P 'A-') and its partners
collaborate on creating new technology.
BJ'S WHOLESALE CLUB WAREHOUSE/DISTRIBUTION CENTER –
Philadelphia MSA
CCIT acquired a 633,836-square-foot warehouse facility in
Burlington, NJ, via a
sale-leaseback transaction. The facility serves as the regional
distribution center for BJ's retail stores in the Mid-Atlantic
region. This facility is one of only three distribution centers
operated by BJ's.
DUKE UNIVERSITY HEALTH SYSTEM – Durham-Chapel Hill
MSA
CCIT acquired a 126,225-square-foot, three-story office building
leased to Duke PRMO, LLC, part of the Duke
University Health System network. The facility provides
administrative and training support to the health system.
TREX WAREHOUSE – Reno MSA
CCIT acquired a
337,500-square-foot industrial warehouse leased to the Trex Company
in Fernley, NV. The property
serves as a raw materials warehouse for Trex, the world's largest
manufacturer of wood-alternative decking and railing products.
Six-facility Portfolio – Phoenix, San
Jose and Denver MSAs
CCIT acquired an
833,079-square-foot, six-facility portfolio that includes three
properties in the Phoenix, AZ MSA:
a DeVry University educational
facility, a CVS Caremark back office/call center and C.R. Bard's
customer service, conference and showroom facility; two properties
in San Jose, CA: Acxiom's West
Coast headquarters and Bestronics' corporate headquarters and
manufacturing facility; and one facility in Denver, CO: Boise Paper Holdings' paper
corrugation plant servicing the West.
About Cole Real Estate Investments, Inc.
Cole Real
Estate Investments, Inc. (NYSE: COLE) is an industry‐leading net
lease REIT that acquires and manages real estate assets leased
long‐term to a high‐quality, diversified tenant base. Since 1979,
Cole has leveraged its deep relationships, efficiencies of scale
and rigorous operational processes to acquire and actively manage
retail, office and industrial properties. As of June 30, 2013, Cole Real Estate Investments had
total assets of $7.9 billion, which
included 1,014 properties representing approximately 44 million
square feet of commercial real estate in 48 states. Cole's private
capital management business, Cole Capital™, is a
leading sponsor of non‐listed REITs. According to industry reports
from Robert A. Stanger & Co.,
Cole is the only non‐listed REIT sponsor to rank in the top three
for annual capital raised each of the past five years.
Forward-Looking Statements
Certain statements in this
press release may be considered forward-looking statements that
reflect the current views of Cole Real Estate Investments and
Cole's management with respect to future events. Forward-looking
statements about Cole's plans, strategies and prospects are based
on current information, estimates and projections; they are subject
to risks and uncertainties, as well as known and unknown risks,
which could cause actual results to differ materially from those
projected or anticipated. Forward-looking statements are not
intended to be a guarantee of any event, action, result, outcome or
performance in future periods. Cole does not intend or assume any
obligation to update any forward-looking statements, and the reader
is cautioned not to place undue reliance on them.
SOURCE Cole Real Estate Investments, Inc.