COLE ACQUIRES TWO-BUILDING OFFICE PROPERTY FOR $84.5 MILLION

BUFFALO, N.Y. — Cole Real Estate Investments has purchased a Class A office property in Buffalo from Duke Realty Corp. for $84.5 million. The property comprises a six-story tower and an eight-story tower connected by a seven-story atrium. It has LEED-Silver certification and contains 1,600 parking spaces. It was constructed in 2007 and 2008 as a build-to-suit for HealthNow New York, which operates as BlueCross BlueShield of Western New York and BlueShield of Northeastern New York. The tenant has 13.5 years remaining on its lease with four 5-year renewal options. Boyd Messmann provided in-house representation for Cole. Joe Garibaldi of Jones Lang LaSalle represented the seller, with additional assistance provided in-house by Duke's Whit Annibali.