A wholly owned subsidiary of the operating partnership of Cole Credit Property Trust II Inc. acquired a multitenant retail building totaling approximately 80,000 rentable square feet in Spring, Texas.
The value of the transaction was not disclosed.
The building, located on approximately 5.6 acres, was 100 percent leased at the time of sale to five tenants, including, Academy Corp., CB Jackson Co. dba Spec’s Liquor, Hi-Lo Auto Supply LP, Sherwin-Williams Co., and Jack in the Box Eastern Division LP.
Cole Credit Property Trust II Inc. is a Maryland corporation that intends to qualify as a real estate investment trust beginning with the taxable year ended Dec. 31, 2005.
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