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SPRING HILL, VERO BEACH & ST. AUGUSTINE, FLA. — Phoenix-based Cole Real Estate Investments has acquired three retail properties in Florida in separate transactions totaling $48.5 million. The properties include: the 226,000-square-foot Nature Coast Commons in Spring Hill for $29 million; the 107,000-square-foot Century Town Center in Vero Beach for $14.8 million; and a 57,000-square-foot Hobby Lobby and a 5,000-square-foot Color Wheel in Riverside Center in St. Augustine for $4.7 million.