Cole Real Estate executes 1.7 million sq. ft. in retail leases in 2012
Phoenix -- Cole Real Estate Investments announced it executed leases totaling 1,658,000 sq. ft. at Cole-related properties throughout 2012.
The transactions included 390,000 sq. ft. of new leases and 1,268,000 sq. ft. of lease renewals, bringing Cole’s multi-tenant retail property occupancy rate to 97.7%.
Notable new leases, according to Cole, included five separate transactions with retailer Five Below at locations nationwide, including Camp Creek Marketplace in East Point, Ga. (10,000 sq. ft.); Cumming Town Center in Cumming, Ga. (8,000 sq. ft.); Waterside Marketplace in Chesterfield, Mich. (8,000 sq. ft.); Mueller Regional Center in Austin, Texas (7,500 sq. ft.); and Sunset Valley Homestead also in Austin (8,000 sq. ft.).
Additionally, Cole’s Asset Management team signed 1.1 million sq. ft. of lease extensions and new development across its portfolio in 2012.