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PetSmart in the Broadway Square at 7727 East Broadway Blvd in Tucson sold for

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$4.04 million ($157 PSF) to an affiliate of Cole Real Estate Investments of Phoenix, Cole PM Tucson AZ, LLC. The 25,651 square-foot building (built 1981) was fully occupied by Pet Smart at time of sale and sold as a net investment.

Cole Real Estate Investments, Inc. (NYSE: COLE) recently announced a definitive agreement to merge with American Realty Capital Properties, Inc. (NASDAQ: ARCP). The merger of the two companies was announced on October 23rd.

PetSmart, Inc. (NASDAQ: PETM) is the largest specialty pet retailer of services and solutions for the lifetime needs of pets, they employ approximately 52,000 associates and operate 1,289 stores and more than 196 in-store PetSmart PetsHotels® dog and cat boarding facilities in the United States, Canada and Puerto Rico. They provide a broad range of pet products and in-store services including pet adoption, boarding, grooming and training. The stores are stocked with more than 10,000 products and they are also a leading online provider of pet supplies and pet care information.

Through their in-store pet adoption partnership with PetSmart Charities they have helped save the lives of more than 5 million pets since 1994. PetSmart Charities, Inc. and PetSmart Charities of Canada, Inc. are independent, nonprofit organizations that save the lives of homeless pets and reduce shelter intake through spay/neuter efforts. In 2012, nearly 450,000 dogs and cats found homes through the organization’s adoption centers in all PetSmart stores and by sponsoring community adoption events. PetSmart Charities is the leader in granting money to help pets in need, with more than $28 million given in 2012 throughout North America.

They operate 196 in-store PetSmart PetHotels, dog and cat boarding facilities. These overnight boarding facilities feature associates who are hand-picked for their love of pets and at least one caregiver is always on the premises 24-hours-a-day. All of our PetSmart PetHotels and some of our additional store locations also offer Doggie Day Camp.

PetSmart Grooming Salons offer a full menu including nail trimming, ear cleaning and teeth brushing. With their PetSmart® Look Great Guarantee You’re Happy or it’s Free, pet parents are guaranteed great looking results or the grooming services are free.

Dogs become more disciplined each year with help from our PetSmart accredited pet training instructors. And with our SmartPet PromiseSM policy, training customers are guaranteed 100 percent satisfaction or they can take the class again for free (see store for details).

Expert veterinarian care is available in more than 60 percent of our stores, where Banfield Pet Hospital, operates full-service pet hospitals. These in-store pet hospitals operate independently of PetSmart® and employ more than 1,000 veterinarians who provide a full range of health care and emergency services. PetSmart® holds a 20.5 percent equity interest in Medical Management International, Inc. (MMI), the operator of Banfield Pet Hospital®.

Russ Hall, SIOR, GSCS and Steve Cohen, Principals and Industrial Specialists with Cushman & Wakefield | Picor of Tucson represented the seller, Redyns Development of Tucson in the transaction. Kyle Darling with Net Leased Advisors of Little Rock, AR represented the buyer.

For more information, Hall should be contacted at (520) 546-2747 and Cohen at (520) 546-2750. Darling can be reached at (512) 410-7755. For more information on PetSmart go to https://www.petsmart.com/.

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Cole Capital™, the private capital management business for Cole Real Estate Investments, Inc. of Phoenix announced the launch of Cole Office & Industrial REIT (CCIT II), Inc. (CCIT II), focused on net lease office and industrial assets.

CCIT II intends to invest primarily in single-tenant, income-producing, “necessity” office and industrial properties, which are leased to creditworthy tenants under long-term net leases and are strategically located throughout the United States. Most properties are expected to be subject to “net” leases, whereby the tenant is primarily responsible for the cost of repairs, maintenance, property taxes, utilities, insurance and other operating costs.

Up to 250 million shares of common stock are being made available in the primary offering at $10.00 per share. Additionally, up to 50 million shares of common stock will be offered at $9.50 per share pursuant to the distribution reinvestment plan (DRIP). Shares will be made available through registered broker-dealers and their financial representatives.

Cole Capital Corporation, a registered broker-dealer affiliated with CCIT II’s sponsor, Cole Capital, will be the dealer-manager of the offering and will offer CCIT II’s shares on a best-efforts basis.

Prospectus
A full prospectus may be found on the Cole Capital website (www.colecapital.com), by calling the sponsor at (866) 907.2653 or by mail at Cole Capital Corporation, 2325 E. Camelback Road, Suite 1100, Phoenix, Arizona 85016.

(SOURCE Cole Capital)

PHOENIX, PRNewswire — Cole Real Estate Investments, Inc. (NYSE: COLE), a market-leading net lease REIT, announced on behalf of its private capital management business, Cole Capital™, the acquisition of 12 single-tenant office and industrial properties by Cole Corporate Income Trust, Inc. (CCIT). The combined price of the acquisitions was approximately $386.1 million, and included corporate facilities in North Carolina, Tennessee, Virginia, Texas, New Jersey, Nevada, Arizona, California and Colorado.

CCIT invests primarily in strategic single-tenant, income-producing, necessity corporate properties leased to creditworthy tenants under long-term net leases. Cole Corporate Income Advisors, LLC, a subsidiary of Cole Real Estate Investments, Inc., serves as external advisor to CCIT.

“The diversified industries, geographic locations, remaining lease terms and strategic importance of the properties for the tenants made these solid acquisition targets,” said Thomas W. Roberts, executive vice president and head of real estate investments at Cole Real Estate Investments, Inc. “We continue to identify opportunities that meet our stringent acquisitions criteria and satisfy our rigorous underwriting processes, while building a high-quality portfolio of net-leased office and industrial assets for CCIT.”

AMAZON.COM DISTRIBUTION CENTERS – Nashville and Richmond MSAs
CCIT acquired two Amazon.com (A&P ‘AA-‘) distribution warehouses totaling more than 2 million combined square feet in Murfreesboro, TN, and Chester, VA. The build-to-suit properties serve as regional distribution centers for the world’s largest online retailer.

AT&T SERVICES FACILITY – Dallas-Ft. Worth MSA
CCIT acquired a 199,248-square-foot, three-story office property located in Plano, TX. The property serves as an “AT&T Foundry” innovation center, an R&D facility where AT&T (parent company S&P ‘A-‘) and its partners collaborate on creating new technology.

BJ’S WHOLESALE CLUB WAREHOUSE/DISTRIBUTION CENTER – Philadelphia MSA
CCIT acquired a 633,836-square-foot warehouse facility in Burlington, NJ, via a sale-leaseback transaction. The facility serves as the regional distribution center for BJ’s retail stores in the Mid-Atlantic region. This facility is one of only three distribution centers operated by BJ’s.

DUKE UNIVERSITY HEALTH SYSTEM – Durham-Chapel Hill MSA
CCIT acquired a 126,225-square-foot, three-story office building leased to Duke PRMO, LLC, part of the Duke University Health System network. The facility provides administrative and training support to the health system.

TREX WAREHOUSE – Reno MSA
CCIT acquired a 337,500-square-foot industrial warehouse leased to the Trex Company in Fernley, NV. The property serves as a raw materials warehouse for Trex, the world’s largest manufacturer of wood-alternative decking and railing products.

Six-facility Portfolio – Phoenix, San Jose and Denver MSAs
CCIT acquired an 833,079-square-foot, six-facility portfolio that includes three properties in the Phoenix, AZ MSA: a DeVry University educational facility, a CVS Caremark back office/call center and C.R. Bard’s customer service, conference and showroom facility; two properties in San Jose, CA: Acxiom’s West Coast headquarters and Bestronics’ corporate headquarters and manufacturing facility; and one facility in Denver, CO: Boise Paper Holdings’ paper corrugation plant servicing the West.