Retail // Net Lease
Douglas Cole is a retail real estate investment expert. Prior to coming to Marcus & Millichap, Douglas represented ground up developers in the completion of over 450,000 sf of retail shopping centers. Through finalizing over 250 leases with both national tenants such as Bank of America, Michael’s Stores, Starbucks, Coffee Bean & Tea Leaf, Walgreens and Bristol Farms as well as local mom and pop tenants, Douglas is thoroughly versed in how retail centers operate and generate income. This knowledge is integral to his ability to underwrite, understand, market and sell retail properties.
Since coming to Marcus & Millichap in 2011, Douglas has focused on multi-tenant, anchored shopping centers and single tenant retail. Noteworthy transactions include the Simi Valley Shopping Center, where Douglas represented both buyer and seller; the retail center is approximately 100,000 sf and sold for $16.9 million. This transaction exemplifies the Marcus & Millichap platform because the seller then used Douglas to broker the purchase of a Best Western hotel in Bryan/College Station Texas.
Douglas also sourced and represented a buyer for his 1031 exchange on the flagship Olive Garden in Orlando, Florida valued at $12 million. Another example of Douglas' skill set is the sale of the La Mirada Plaza, a 17,032 sf multi-tenant value add center in La Mirada, California. The center was a true value add opportunity with only two of the tenants having long term leases and all tenants with below market rents. Douglas sold the property at 3.2%, a record setting cap rate for La Mirada.
Douglas is passionate about real estate and is a long-term, active member of the International Council of Shopping Centers and regularly attends the local and national conventions. When not working, he enjoys live music, hiking, exploring local restaurants and exercising with his wife, Kate.
License: CA: 01402112
- Sales Recognition Award: 2015