Cole Companies Hits Record Month with July Acquisitions.

Cole on Track to Exceed $1 Billion in Acquisitions for the Year in August

* $252 MM Acquired in July 2007

* $969 MM Acquired Year to Date

PHOENIX -- In July 2007, Cole Companies (Cole) acquired a monthly record of $252 million in retail real estate, totaling over 2.1 million square feet. Tenant concepts include Academy Sports, Circuit City, CVS, Eckerd, Kohl's, Lowe's, Staples and Walgreens.

Year to date, Cole has acquired approximately $969 million in assets, totaling over 7.2 million square feet. This is $684 million more than Cole acquired over the same time period last year. Cole's total assets owned or under management equal approximately $2.3 billion and 14 million total square feet.

"With the properties currently in our pipeline for close in August, we will quickly surpass our $1 billion goal for the year," said Chris Robertson, Senior Vice President of Acquisitions for Cole. "Our team completed a record month, and we are excited about the pace we have set for the remainder of the year. By executing a disciplined and controlled growth strategy, we were able to achieve our annual goal five months ahead of schedule. I believe Cole's increase in deal flow is linked to our growing presence as an industry leader in retail acquisitions."

Cole acquired the following properties during the month of July 2007:

[TABLE OMITTED]

About Cole Companies

Cole Companies is a leading real estate investment management firm that is focused on the acquisition of quality commercial real estate. Primarily, Cole is focused on freestanding, single-tenant properties leased to high-quality tenants in a variety of retail businesses as well as multi-tenant, office and industrial properties that complement its overall investment strategies. Since 1979, Cole has formed and managed over 100 investment programs, owning and/or managing real estate with a combined acquisition and development cost in excess of $2.3 billion.