Cole acquires three retail centers for $130.9 million

Phoenix -- Cole Real Estate Investments said it has purchased three retail power centers totaling about 875,000 sq. ft. for $130.9 million.

The acquired properties are Hillside Town Center, a 165,000-sq.-ft. center in Hillside, Ill., for $27 million; White Oak Village, a 433,500-sq.-ft. property in Richmond, Va., for $68 million; and Barrow Crossing, a 276,000-sq.-ft. center in Winder, Ga., for $35.9 million. Barrow Crossing is a joint venture with Faison, the original developer of the property.

Hillside Town Center is anchored by HomeGoods, Michael’s, Staples and Petco; White Oak Village is anchored by J.C. Penney, Martin’s grocery, PetSmart, Michael’s and OfficeMax; and Barrow Crossing is anchored by Belk, Publix, TJ Maxx, PetSmart and Staples.