This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cole Corporate Income Trust, Inc. Acquires More Than $386 Million Of Net Lease Office & Industrial Properties

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: http://photos.prnewswire.com/prnh/20130802/MM58302LOGO)

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 MSACCIT 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 MSACCIT 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 MSAsCCIT 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 StatementsCertain 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.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,091.58 +12.01 0.07%
S&P 500 2,002.72 +5.98 0.30%
NASDAQ 4,578.5770 +20.8820 0.46%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs