PHOENIX-The Cole Cos. has spent $252 million to acquire 2.14 million sf of triple-net retail assets nationwide in July. To date this year, the locally based company has spent $969 million in the US on commercial real estate.

In its latest round of buys, Cole has bought properties leased to CVS/Caremark Corp., Walgreen Co., Staples Inc., Academy Sports & Outdoors Ltd., Eckerd Corp. and Taco Bell Corp. The properties are in primary and secondary markets in Alabama, Missouri, Texas, Indiana and Kentucky. The buys ranged from a collection of 13,905-sf Walgreen Co. stores in Kansas City, MO to a 706,560-sf building in Groveland, FL that’s leased to Circuit City Stores Inc.

Cole recently paid $89 million to FORT Properties Inc. of Los Angeles for a portfolio of single-tenant retail assets. That acquisition is indicative of the company’s typical buys says Chris Robertson, the buyer’s senior vice president of acquisitions. “I’d say over the past six months, we’ve done more portfolio than one-off deals,” he explains. “As our size and capabilities grow, we’re doing more of these larger deals.” FORT’s multi-state portfolio had long-term tenants like Lowe’s Companies Inc. and Kohl’s Corp.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.