Irving, TX, was one of six assets
Cole Real Estate acquired during Q3.
PHOENIX-Cole Real Estate Investments closed on six office and industrial properties during Q3 2012. The properties acquired by the private REIT include the 94,000-square-foot HCA Inc. regional office headquarters in Irving, TX, acquired for $15.4 million, and the 163,000-square-foot North and South American headquarters for Sysmex American, located in Lincolnshire, IL, which was purchased for just under $50 million.
“Given the mission-critical nature of the properties, high credit quality of the tenants and the industry diversity, these properties are in line with our disciplined investment strategy,” says Robert Micera, Chief Investment Officer, Office and Industrial, for Cole in a press release. “We are pleased to add these premier assets to our expanding portfolio of strategic corporate assets.” The firm is targeting up to $3 billion of acquisitions in 2012.
In addition to acquiring the HCA and Sysmex headquarters, Cole acquired:
• The 125,000-square-foot flagship distribution center in Colorado Springs, CO for American Tire Distributor for $8.3 million.
• The 328,000-square-foot office/R&D complex 174 & 176 Middlesex Turnpike in Bedford, MA for $93.5 million.
• The 168,000-square-foot Newton Engineering Center in Centennial, CO, for $32.6 million.
During the quarter, Cole also invested more than $12 million in a recently completed 80,000-square-foot build-to-suit property that will serve as a national call center for a leading national retailer in Kennesaw, GA. Taylor & Mathis served as Cole’s development partner.