Arizona-based Cole Real Estate Investments has created a new real estate investment trust (REIT) to raise a total of about $2.5 billion,Citybizlist Real Estatereports. The Cole Corporate Income Trust is offering 250 million shares of its common stock at $10 per share for investing in single tenant office and industrial properties.

The trust will use all the net proceeds from the offering to acquire properties in the corporate office and industrial sector. The new company, which was formed on April 6, 2010, intends to qualify as a REIT in the beginning of 2011 and is required to sell 250,000 shares by Feb. 10, 2012, to emerge from its blind pool status.

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