Cole takes Men’s Wearhouse in portfolio buy

HOUSTON – Cole Real Estate Investments Inc., a diversified real estate company, announced the acquisition of three Class A office properties for $160.8 million. The overall weighted average credit rating of the rated tenants in the portfolio is A-, and the weighted average remaining lease term is nearly 11 years.

The Men’s Wearhouse — Corporate Headquarters — Houston MSA Cole acquired a 206,362-sf, two-story office building located in the Westchase District of Houston. The property serves as the corporate headquarters for The Men’s Wearhouse, which has more than 14 years remaining on its lease, plus renewal options.

Allstate Insurance Co. — Irving Campus — Dallas-Fort Worth Cole acquired a multibuilding corporate campus leased to Allstate Insurance Co. The 458,338-sf campus is comprised of three-story office buildings, one five-story office building and one single-story flex industrial building. Through a sale-leaseback transaction, Allstate will occupy the campus under a 12-year lease, plus renewal options.

Boston MSA — Concord Mass. The third property purchased was Harvard Vanguard Medical Associates, office building. Cole acquired a recently completed 49,250-sf medical office building in Concord, Mass. The facility is leased for 17 years to Harvard Vanguard Medical Associates, a 630-physician medical group providing primary and specialty medical care.

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