PHOENIX-Business Real Estate Weekly of Arizona reports that locally based Cole Real Estate Investments has paid a total of $56.3 million to acquire 304,637 square feet of office and back office space from LBA Realty. The REIT acquired the properties in three separate transactions from the Irvine, CA buyer.
According to BREW, the metro assets are part of a larger $100 million-plus deal struck between Cole and LBA Realty involving 900,000 square feet of office and industrial buildings in Arizona, California and Colorado
