TOLLESON, AZ-Cole Real Estate Investments has acquired The HomeDepot’s distribution center here for $30.4 million. The non-tradedREIT purchased the 466,694 square-foot warehouse/distributionfacility in an all-cash transaction from USAA Real Estate Co.
The distribution facility is the third property Cole haspurchased from USAA so far this year. Earlier this summer, thePhoenix-based investor acquired the AT&T Regional Headquartersbuilding in Dallas and the Igloo Products’ corporate headquarters,warehouse and distribution facility in Katy, TX. The two propertiestraded for a total of $67.5 million.
“The acquisition of excellent industrial properties such as thisprovides for diversification and risk management in our retailfocused portfolio,” says Kim Kundrak, chief acquisitions officerfor Cole.
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