REBusinessOnline

COLE TAKES TWO FLORIDA RETAIL CENTERS FOR $47 MILLION

DAYTONA BEACH AND PANAMA CITY BEACH, FLA. — Cole Real Estate Investments has purchased two multi-tenant shopping centers in separate transactions totaling $47 million. Cole acquired the 228,139-square-foot Volusia Square in Daytona Beach from Retail Planning Corp. for $31 million. The center is 96 percent leased to tenants, including Hobby Lobby, HH Gregg, TJ Maxx, Dollar Tree, Bealls Outlet and Pier 1 Imports. The company also bought the 97,931-square-foot Breakfast Point Marketplace in Panama City Beach. The property is 99 percent leased to tenants, including Publix and Office Depot. Tom Falatko provided in-house representation for Cole in the Volusia Square transaction, while Brad Peterson of Holliday Fenoglio Fowler represented the undisclosed seller. Clint Marchuk provided in-house representation for Cole in the Breakfast Point transaction, with Chris Decoufle, Cliff Taylor and Kevin Reavey of CB Richard Ellis represented the undisclosed seller.

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