Wednesday, January 12, 2011

Part 2: A Chat with Cole's Micera on Office and Industrial

Cole Real Estate Investments (“Cole”) is a commercial real estate investment management firm founded in 1979 by Chris Cole. Cole’s investment programs are built on a strategy of acquiring income-producing, singletenant properties that are net leased to creditworthy tenants.

Robert J. Micera is the Chief Investment Officer of Office and Industrial for Cole Real Estate Investments.

HIPP: What (if any) regions are you focusing your investment activity in?

MICERA: Cole pursues acquisitions throughout the United States. Currently we own properties in 46 states. Our acquisition criteria focuses efforts on long-term, single-tenant assets (office, industrial and retail) net-leased to high-quality, creditworthy tenants. We look at assets in major markets, as well as secondary and tertiary markets, especially if the asset is strategically important to the growth and operation of a company. For smaller markets, we typically require 15 to 20 year triple net leases with annual rental increases.

HIPP: What types of property are you focusing on?

MICERA: Cole focuses primarily on acquiring single-tenant office, industrial and retail assets that are leased to creditworthy tenants under long-term net leases. Cole also acquires multitenant retail, such as power centers and grocery anchored centers, where the majority of space is leased to one or more creditworthy anchor tenants. Our current portfolio of properties maintains approximately 20% allocation to the office and industrial sector, and the remaining properties are retail assets. Our typical deal size ranges from as low as $5 million to as large as
several hundred million dollars.

Read the full interview here.


  1. Great interview with Mr. Micera. I've been reading about some Cole Capital investments lately and he is right- they keep a diversified portfolio. Recently I found out they've acquired shopping centers, office real estate and even purchased an old Circuit City so it can become home to a new Carrington College. That's pretty impressive for it only being January.

  2. It's nice to hear what an insider has to say. It seems like Cole is doing alright. I read they are now offering a new Cole REIT that specializes in office and industrial real estate.

  3. Do you also handle hamptons real estate? My husband and I were thinking about looking for a summer rental in the Hamptons after spending a few weeks there at my friend's house. So lovely!