Cole Real Estate
Thomas Falatko, vice president of multi-tenant acquisitions at Cole, negotiated all three transactions for the company. The
“Secondary markets within Florida continue to provide opportunities to acquire high-quality, multi-tenant centers that serve as primary retail destinations within their respective trade areas,” says Scott Holmes, vice president of multi-tenant acquisitions for Cole. “With nationally recognized, creditworthy tenants and limited competition in the area, these assets fit the
Nature Coast Commons, a 226,000 sq. ft. community shopping center constructed in 2009, is on Commercial Way (U.S. 19), a primary north-south thoroughfare and retail corridor in the Tampa/St. Petersburg-Clearwater metropolitan statistical area. Major tenants include Sports Authority, Best Buy, Ross Dress for Less, Office Depot and PetSmart. Carson Good of Jones Lang LaSalle represented the seller.
Century Town Center is a 107,000 sq. ft. shopping center constructed in 2008. The 93% occupied center at the intersection of SR-60 and Kings Highway is in the Vero Beach retail market. Major tenants include Marshalls/HomeGoods, Petco, Jo-Ann Fabrics and Olive Garden. Danny Finkle, Brad Peterson and Luis Castillo of HFF represented the seller.
Riverside Centre is at the intersection of U.S. Highway 1 and SR-312. Cole’s acquisition consists of a 57,000 sq. ft. Hobby Lobby and a 5,000 sq. ft. Color Wheel paint store. Brad Petersen of HFF represented the seller.
Cole seeks high-quality, income-producing retail, office and
Cole-related entities own and manage more than 1,350 properties representing 47 million sq. ft. of commercial real estate in 46 states with a combined acquisition cost of over $8 billion.