COLE R.E. INVESTMENTS PURCHASES WHITTWOOD TOWN CENTER FOR $83.5 MILLION

WHITTIER, CALIF. — Cole Real Estate Investments has acquired the 686,241-square-foot Whittwood Town Center, located in Whittier where Los Angeles County borders Orange County, from Morgan Stanley in an $83.5 million, all-cash transaction. Completely redeveloped from 2004 to 2006 and 97 percent leased at the time of sale, the community shopping center includes tenants such as Target, Sears, JC Penney, Kohl’s, PetSmart and CVS/pharmacy. Cushman & Wakefield's Marc Renard represented the seller in the transaction, and Cole’s Scott Holmes handled matters on the acquisition side.