By Paul Toscano | CNBC.com
Marc Nemer, the CEO of Cole Real Estate Investments, one of the largest publicly traded REITs, said that a recovery is under way with fundamentals noticeably improving in the market.
“It’s fundamentally different out there,” Nemer told “Squawk on the Street” Friday, when asked how the market today compares with the period six months prior.
Nemer said that his company focuses on “necessity-based” properties, which are less subject to discretionary spending at the consumer level. “The kind of properties we’re focused on are doing very well right now.”
According to the company, Cole invests primarily in single-tenant commercial real estate, leasing the properties under long-term leases. Cole’s portfolio of tenants includes such companies as Walgreen, Dr Pepper Snapple, PetSmart, Microsoft, Apollo Group’s University of Phoenix and more. In 2012, Cole’s portfolio topped $10 billion.
