|   | EXHIBIT 31.1 |
|--------|--------------|

 

|   | CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER |
|--------|----------------------------------------------|

|   | PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 |
|--------|-----------------------------------------------------------|

 

 I, Christopher H. Cole, certify that:

 

|   | 1. | I have reviewed this quarterly report on Form 10-QSB of Cole Credit |
|--------|----|---------------------------------------------------------------------|

|   | Property Trust, Inc.; |
|--------|-----------------------|

 

|   | 2. | Based on my knowledge, this report does not contain any untrue |
|--------|----|----------------------------------------------------------------|

|   | statement of a material fact or omit to state a material fact |
|--------|---------------------------------------------------------------|

|   | necessary to make the statements made, in light of the circumstances |
|--------|----------------------------------------------------------------------|

|   | under which such statements were made, not misleading with respect |
|--------|--------------------------------------------------------------------|

|   | to the period covered by this report; |
|--------|---------------------------------------|

 

|   | 3. | Based on my knowledge, the financial statements, and other financial |
|--------|----|----------------------------------------------------------------------|

|   | information included in this report, fairly present in all material |
|--------|---------------------------------------------------------------------|

|   | respects the financial condition, results of operations and cash |
|--------|------------------------------------------------------------------|

|   | flows of the registrant as of, and for, the periods presented in |
|--------|------------------------------------------------------------------|

|   | this report; |
|--------|--------------|

 

|   | 4. | The registrant's other certifying officer and I are responsible for |
|--------|----|---------------------------------------------------------------------|

|   | establishing and maintaining disclosure controls and procedures (as |
|--------|---------------------------------------------------------------------|

|   | defined in Exchange Act Rules 13a-15(e) and 15d-15(e) for the |
|--------|---------------------------------------------------------------|

|   | registrant and have: |
|--------|----------------------|

 

|   | a) | designed such disclosure controls and procedures, or caused |
|--------|----|-------------------------------------------------------------|

|   | such disclosure controls and procedures to be designed under |
|--------|--------------------------------------------------------------|

|   | our supervision, to ensure that material information relating |
|--------|---------------------------------------------------------------|

|   | to the registrant, including its consolidated subsidiary, is |
|--------|--------------------------------------------------------------|

|   | made known to us by others within those entities, particularly |
|--------|----------------------------------------------------------------|

|   | during the period in which this report is being prepared; |
|--------|-----------------------------------------------------------|

 

|   | b) | evaluated the effectiveness of the registrant's disclosure |
|--------|----|------------------------------------------------------------|

|   | controls and procedures and presented in this report our |
|--------|----------------------------------------------------------|

|   | conclusions about the effectiveness of the disclosure controls |
|--------|----------------------------------------------------------------|

|   | and procedures as of the end of the period covered by this |
|--------|------------------------------------------------------------|

|   | report based on such evaluation; and |
|--------|--------------------------------------|

 

|   | c) | disclosed in this report any change in the registrant's |
|--------|----|---------------------------------------------------------|

|   | internal control over financial reporting that occurred during |
|--------|----------------------------------------------------------------|

|   | the registrant's most recent fiscal quarter (the registrant's |
|--------|---------------------------------------------------------------|

|   | fourth fiscal quarter in the case of an annual report) that |
|--------|-------------------------------------------------------------|

|   | has materially affected, or is reasonably likely to materially |
|--------|----------------------------------------------------------------|

|   | affect, the registrant's internal control over financial |
|--------|----------------------------------------------------------|

|   | reporting; and |
|--------|----------------|

 

|   | 5. | The registrant's other certifying officer and I have disclosed, |
|--------|----|-----------------------------------------------------------------|

|   | based on our most recent evaluation of internal control over |
|--------|--------------------------------------------------------------|

|   | financial reporting, to the registrant's auditors and the audit |
|--------|-----------------------------------------------------------------|

|   | committee of registrant's board of directors (or persons performing |
|--------|---------------------------------------------------------------------|

|   | the equivalent functions): |
|--------|----------------------------|

 

|   | a) | all significant deficiencies and material weaknesses in the |
|--------|----|-------------------------------------------------------------|

|   | design or operation of internal control over financial |
|--------|--------------------------------------------------------|

|   | reporting which are reasonably likely to adversely affect the |
|--------|---------------------------------------------------------------|

|   | registrant's ability to record, process, summarize and report |
|--------|---------------------------------------------------------------|

|   | financial information; and |
|--------|----------------------------|

 

|   | b) | any fraud, whether or not material, that involves management |
|--------|----|--------------------------------------------------------------|

|   | or other employees who have a significant role in the |
|--------|-------------------------------------------------------|

|   | registrant's internal control over financial reporting. |
|--------|---------------------------------------------------------|

 

|   | /s/ Christopher H. Cole |
|--------|-------------------------|

|   | ----------------------------------------------- |
|--------|-------------------------------------------------|

|   | Christopher H. Cole |
|--------|---------------------|

|   | Chief Executive Officer and President |
|--------|---------------------------------------|

 

 Date: May 15, 2007