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DOUGLASVILLE, GA. — Phoenix-based Cole Real Estate Investments has acquired a 222,500-square-foot Wal-Mart Supercenter and a 129,500-square-foot Sam's Club, located on Concourse Parkway in Douglasville, for $32.8 million. The adjacent properties are both subject to individual 20-year leases scheduled to expire in 2019, with six, 5-year renewal options. Craig Johnson of Marcus & Millichap's Atlanta office along with Jeffrey Piccinelli of Cole represented the buyer. Johnson also represented the seller, a California-based investor.