VERO BEACH, FL-Cole Real Estate Investments just acquired three shopping centers in Florida worth a collective $48.5 million. Nature Coast Commons in Spring Hill sold for $29 million, Century Town Center in Vero Beach sold for $14.8 million and part of Riverside Centre in St. Augustine traded for $4.7 million.

“Secondary markets within Florida continue to provide opportunities to acquire high-quality, multi-tenant centers that serve as primary retail destinations within their respective trade areas,” says Scott Holmes, vice president of multi-tenant acquisitions for Cole. “With nationally recognized, creditworthy tenants and limited competition in the area, these assets fit the investment criteria for our expanding, diversified portfolio of retail assets.”

Nature Coast Commons, a 226,000-square-foot community shopping center constructed in 2009, is in the Tampa/St. Petersburg-Clearwater regional MSA. Specifically, the property is located along US 19, the area’s primary north-south thoroughfare and main retail corridor. Major tenants include Sports Authority, Best Buy, Ross Dress for Less, Office Depot and PetSmart.