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WHITTIER, CA-Phoenix-based Cole Real Estate Investments has acquired 533,518 rentable square feet of retail space at the Whittwood Town Center for $83.5 million, according to a public filing by Cole Credit Property Trust III Inc, a nontraded REIT. Cole acquired the property from Morgan Stanley’s Prime Property Fund, which was represented by Downtown Los Angeles-based executive managing director Marc Renard of the Cushman & Wakefield Capital Markets Group and his team.

The Whittwood Town Center, at 15608 Whittwood Lane, was 96.4% occupied at the time of closing, with a tenant roster including Target, Sears, JC Penney and others, according to the Cole public filing. The property was originally constructed in the 1950s but was redeveloped in 2004.

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