Cole Real Estate Investments buys three property portfolio from LBA Realty for $56.33m

Vizzda – September 13, 2013 – Cole Real Estate Investments of Phoenix has acquired three properties from LBA Realty of Irvine for a total of $56.33m. Steven Layton at LBA oversaw the transaction; Robert Micera is the chief investment officer at Cole Real Estate Investments.

Portfolio Details:

Devry University at 2149 W Dunlap Ave in Phoenix is a ±122,646 ft2 2-story office built in 1991 on ±17.93 acres. LBA reports a 12:1000 parking ratio. $23.03m or $188 per ft2. LINK

Cotton Center II at 4121 E Cotton Center Blvd in Phoenix is a ±99,734 ft2 flex warehouse with mezzanine office built in 2000 on 8.70 acres. $18.88m or $189 per ft2. LINK

Rio Salado Corporate Center at 1415 W 3rd St in Tempe is a ±82,257 ft2 warehouse built in 1981 on 5.33 acres. $14.42m or $175 per ft2. LINK

Edward Moore

Director of Research

www.vizzda.com

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