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                                                                   EXHIBIT 10.30

                                 PROMISSORY NOTE

$17,700,000.00                                Effective as of December 15, 2005

COLE PT AUBURN HILLS MI, LLC
2555 East Camelback Road, Suite 400
Phoenix, Arizona 85016
(Individually and collectively "BORROWER")

WACHOVIA FINANCIAL SERVICES, INC.
100 South Ashley Drive, Suite 950
Tampa, Florida 33602
(Hereinafter referred to as "BANK")

Borrower promises to pay to the order of Bank, in lawful money of the United
States of America, at its office indicated above or wherever else Bank may
specify, the sum of Seventeen Million Seven Hundred Thousand Dollars
($17,700,000.00), or as much as such sum as may be advanced and outstanding from
time to time, with interest on the unpaid principal balance at the rate and on
the terms provided in this Promissory Note (including all renewals, extensions
or modifications hereof, this "NOTE").

USE OF PROCEEDS. Borrower shall use the proceeds of the loan(s) evidenced by
this Note for the commercial purposes of Borrower, as follows: for the
acquisition of 111,881 square foot commercial office and research and
development building, leased to LDM Technologies, Inc., and located in Oakland
County, Michigan

SECURITY. Borrower has granted Bank a security interest in the collateral
described in the Loan Documents, including, but not limited to, real property
collateral described in that certain Mortgage and Security Agreement of even
date herewith.

INTEREST RATE. Interest shall accrue on the unpaid principal balance of this
Note during each Interest Period from the date hereof at a rate per annum equal
to 1-month LIBOR plus 2.0% ("INTEREST RATE"). The Interest Rate for each
Interest Period shall accrue each day during such Interest Period, commencing on
and including the first day to but excluding the last day. "INTEREST PERIOD"
means each period commencing on the first day of the calendar month and ending
on the first day of the next succeeding calendar month; provided (i) the first
Interest Period shall commence on the date hereof and (ii) any Interest Period
that would otherwise extend past the maturity date of this Note shall end on the
maturity date of this Note. "LIBOR" means, with respect to each Interest Period,
the rate for U.S. dollar deposits with a maturity equal to the number of months
specified above, as reported on Telerate page 3750 as of 11:00 a.m., London
time, on the second London business day before such Interest Period begins, or,
in the

      THIS NOTE IS MADE AND EXECUTED OUTSIDE OF THE STATE OF FLORIDA, AND
      THEREFORE NO FLORIDA DOCUMENTARY STAMP TAX IS DUE AND PAYABLE HEREON.

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case of the first Interest Period, the second London business day before the
first day of the calendar month during which such Interest Period begins (or if
not so reported, then as determined by the Bank from another recognized source
or interbank quotation).

INDEMNIFICATION. Borrower shall indemnify Bank against Bank's loss or expense as
a consequence of (a) Borrower's failure to make any payment when due under this
Note, or (b) any payment, prepayment or conversion of any loan on a date other
than the last day of the Interest Period ("INDEMNIFIED LOSS OR EXPENSE"). The
amount of such Indemnified Loss or Expense shall be determined by Bank based
upon the assumption that Bank funded 100% of that portion of the loan in the
London interbank market.

DEFAULT RATE. In addition to all other rights contained in this Note, if a
Default (as defined herein) occurs and as long as a Default continues, all
outstanding Obligations shall bear interest at the Interest Rate plus 4%
("DEFAULT RATE"). The Default Rate shall also apply from acceleration until the
Obligations or any judgment thereon is paid in full.

INTEREST AND FEE(S) COMPUTATION (ACTUAL/360). Interest and fees, if any, shall
be computed on the basis of a 360-day year for the actual number of days in the
applicable period ("ACTUAL/360 COMPUTATION"). The Actual/360 Computation
determines the annual effective yield by taking the stated (nominal) rate for a
year's period and then dividing said rate by 360 to determine the daily periodic
rate to be applied for each day in the applicable period. Application of the
Actual/360 Computation produces an annualized effective interest rate exceeding
the nominal rate.

REPAYMENT TERMS. This Note shall be due and payable in consecutive monthly
payments of accrued interest only, commencing on January 11, 2005, and
continuing on the same day of each month thereafter until the Maturity Date (as
defined below). In addition, on or before April 14, 2006, Borrower shall make a
principal payment in an amount of Four Million Seven Hundred Twenty Thousand
Dollars ($4,720,000.00). All principal and accrued interest shall be due and
payable in full on December 14, 2006 (the "MATURITY DATE").

APPLICATION OF PAYMENTS. The indebtedness evidenced by this Note may be prepaid
at any time by Borrower without penalty or premium. Monies received by Bank from
any source for application toward payment of the Obligations shall be applied to
accrued interest and then to principal. If a Default occurs, monies may be
applied to the Obligations in any manner or order deemed appropriate by Bank.

If any payment received by Bank under this Note or other Loan Documents is
rescinded, avoided or for any reason returned by Bank because of any adverse
claim or threatened action, the returned payment shall remain payable as an
obligation of all persons liable under this Note or other Loan Documents as
though such payment had not been made.

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DEFINITIONS. LOAN DOCUMENTS. The term "LOAN DOCUMENTS", as used in this Note and
the other Loan Documents, refers to all documents executed in connection with or
related to the loan evidenced by this Note and any prior notes which evidence
all or any portion of the loan evidenced by this Note, and any letters of credit
issued pursuant to any loan agreement to which this Note is subject, any
applications for such letters of credit and any other documents executed in
connection therewith or related thereto, and may include, without limitation, a
commitment letter that survives closing, a loan agreement, this Note, guaranty
agreements, security agreements, security instruments, financing statements,
mortgage instruments, any renewals or modifications, whenever any of the
foregoing are executed, but does not include swap agreements (as defined in 11
U.S.C. Section 101). OBLIGATIONS. The term "OBLIGATIONS", as used in this Note
and the other Loan Documents, refers to any and all indebtedness and other
obligations under this Note, all other obligations under any other Loan
Document(s), and all obligations under any swap agreements (as defined in 11
U.S.C. Section 101) between Borrower and Bank whenever executed. CERTAIN OTHER
TERMS. All terms that are used but not otherwise defined in any of the Loan
Documents shall have the definitions provided in the Uniform Commercial Code.

LATE CHARGE. If any payments are not timely made, Borrower shall also pay to
Bank a late charge equal to 5% of each payment past due for 10 or more days not
to exceed $1,000.00 per late charge.

Acceptance by Bank of any late payment without an accompanying late charge shall
not be deemed a waiver of Bank's right to collect such late charge or to collect
a late charge for any subsequent late payment received.

If this Note is secured by owner-occupied residential real property located
outside the state in which the office of Bank first shown above is located, the
late charge laws of the state where the real property is located shall apply to
this Note and the late charge shall be the highest amount allowable under such
laws. If no amount is stated thereunder, the late charge shall be 5% of each
payment past due for 10 or more days.

ATTORNEYS' FEES AND OTHER COLLECTION COSTS. Borrower shall pay all of Bank's
reasonable expenses incurred to enforce or collect any of the Obligations
including, without limitation, reasonable arbitration, paralegals', attorneys'
and experts' fees and expenses, whether incurred without the commencement of a
suit, in any trial, arbitration, or administrative proceeding, or in any
appellate or bankruptcy proceeding.

USURY. If at any time the effective interest rate under this Note would, but for
this paragraph, exceed the maximum lawful rate, the effective interest rate
under this Note shall be the maximum lawful rate, and any amount received by
Bank in excess of such rate shall be applied to principal and then to fees and
expenses, or, if no such amounts are owing, returned to Borrower.

CURE PERIOD. Except as provided below, a Default based upon Nonpayment, as
defined herein, may be cured within 5 days after delivery of written notice from
Bank to

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Borrower that such payment is due and any other Default may be cured within 30
days after written notice thereof is delivered to the Borrower by Bank, provided
however, if any Default is of the nature that it cannot, with commercially
reasonable effort, be cured in 30 days, then such Default may be cured in such
longer period as may be necessary, not to exceed 90 days, provided Borrower
commences efforts to cure the Default within 30 days of notice of the Default,
and thereafter diligent pursues such efforts to completion. The Borrower's right
to cure shall be applicable only to curable defaults and shall not apply,
without limitation, to Defaults based upon False Warranty or Cessation;
Bankruptcy. Borrower shall have the right to cure a Default requiring mailing of
notice only once during any 12 month period. Bank shall not exercise its
remedies to collect the Obligations except as Bank reasonably deems necessary to
protect its interest in collateral securing the Obligations during a cure
period.

DEFAULT. If any of the following occurs and is not cured within the applicable
Cure Period, a default ("Default") under this Note shall exist: NONPAYMENT;
NONPERFORMANCE. The failure of timely payment or performance of the Obligations
or Default under this Note or any other Loan Documents. FALSE WARRANTY. A
warranty or representation made or deemed made in the Loan Documents or
furnished Bank in connection with the loan evidenced by this Note proves
materially false, or if of a continuing nature, becomes materially false.
CESSATION; BANKRUPTCY. The dissolution of, termination of existence of, loss of
good standing status by, appointment of a receiver for, assignment for the
benefit of creditors of, or commencement of any bankruptcy or insolvency
proceeding by or against Borrower or COLE OPERATING PARTNERSHIP II, LP, a
Delaware limited partnership ("GUARANTOR"). MATERIAL BUSINESS ALTERATION.
Without prior written consent of Bank, a material alteration in the kind or type
of Borrower's business. MATERIAL CAPITAL STRUCTURE OR BUSINESS ALTERATION.
Without prior written consent of Bank, (i) a material alteration in the kind or
type of Borrower's business; (ii) the sale of substantially all of the business
or assets of Borrower or Guarantor if such a sale is outside the ordinary course
of business of Borrower or Guarantor, or a material portion (10% or more) of
such business or assets if such a sale is outside the ordinary course of
business of Borrower or Guarantor, or more than 50% of the outstanding stock or
voting power of Borrower in a single transaction or a series of transactions. In
this respect, Bank acknowledges that the purchase and sale of individual
properties pursuant to the terms and conditions of that certain Private Offering
Memorandum of COLE CREDIT PROPERTY TRUST II, INC., a Maryland corporation, the
general partners of Guarantor, dated June 15, 2005, are acceptable ordinary
course of business and do not require Bank's consent; (iii) the acquisition by
Borrower of substantially all of the business or assets or more than 50% of the
outstanding stock or voting power of any other entity; (iv) should Borrower
enter into any merger or consolidation; or (v) a change in management of
Guarantor from the existing management team to another group which lacks
sufficient expertise in commercial real estate as reasonable determined by Bank.
MATERIAL ADVERSE CHANGE. Bank determines in good faith, in its sole discretion,
that the prospects for payment or performance of the Obligations are impaired or
there has occurred a material adverse change in the business or prospects of
Borrower, financial or otherwise.

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REMEDIES UPON DEFAULT. If a Default occurs under this Note or any Loan
Documents, Bank may at any time thereafter, take the following actions: BANK
LIEN. Foreclose its security interest or lien against Borrower's accounts
without notice. ACCELERATION UPON DEFAULT. Accelerate the maturity of this Note
and, at Bank's option, any or all other Obligations, other than Obligations
under any swap agreements (as defined in 11 U.S.C. Section 101) between Borrower
and Bank, which shall be governed by the default and termination provisions of
said swap agreements; whereupon this Note and the accelerated Obligations shall
be immediately due and payable; provided, however, if the Default is based upon
a bankruptcy or insolvency proceeding commenced by or against Borrower or any
guarantor or endorser of this Note, all Obligations (other than Obligations
under any swap agreement as referenced above) shall automatically and
immediately be due and payable. CUMULATIVE. Exercise any rights and remedies as
provided under the Note and other Loan Documents, or as provided by law or
equity.

ANNUAL FINANCIAL STATEMENTS. Borrower shall deliver to Bank, within 90 days
after the close of each fiscal year, financial statements reflecting its
operations during such fiscal year, including, without limitation, a balance
sheet, profit and loss statement and statement of cash flows, with supporting
schedules; all on a consolidated basis with respect to Borrower and its
Subsidiaries, Affiliates and parent or holding company, as applicable, and in
reasonable detail, prepared in conformity with generally accepted accounting
principles, applied on a basis consistent with that of the preceding year.

TAX RETURNS. Borrower shall deliver to Bank, within 30 days of filing, complete
copies of federal and state tax returns, as applicable, together with all
schedules thereto, each of which shall be signed and certified by Borrower to be
true and complete copies of such returns. In the event an extension is filed,
Borrower shall deliver a copy of the extension within 30 days of filing.

PROPERTY REPORTS. Borrower shall deliver to Bank, within 90 days after the close
of each fiscal year and, if requested by Bank, within 45 days after the end of
each fiscal quarter, unaudited management-prepared financial statements relating
to the operation of the Property (as defined in the security instrument securing
the Loan), including, without limitation, a balance sheet, income and expense
statement and statement of cash flows, with supporting schedules; certified rent
roll; and summary of leases; all in reasonable detail, prepared in conformity
with generally accepted accounting principles, applied on a basis consistent
with that of the preceding year.

FINANCIAL AND OTHER INFORMATION. Borrower shall deliver to Bank such information
as Bank may reasonably request from time to time, including without limitation,
financial statements and information pertaining to Borrower's financial
condition. Such information shall be true, complete, and accurate.

WAIVERS AND AMENDMENTS. No waivers, amendments or modifications of this Note and
other Loan Documents shall be valid unless in writing and signed by an officer
of Bank. No waiver by Bank of any Default shall operate as a waiver of any other

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Default or the same Default on a future occasion. Neither the failure nor any
delay on the part of Bank in exercising any right, power, or remedy under this
Note and other Loan Documents shall operate as a waiver thereof, nor shall a
single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or remedy.

Each Borrower or any person liable under this Note waives presentment, protest,
notice of dishonor, demand for payment, notice of intention to accelerate
maturity, notice of acceleration of maturity, notice of sale and all other
notices of any kind. Further, each agrees that Bank may extend, modify or renew
this Note or make a novation of the loan evidenced by this Note for any period,
and grant any releases, compromises or indulgences with respect to any
collateral securing this Note, or with respect to any other Borrower or any
other person liable under this Note or other Loan Documents, all without notice
to or consent of each Borrower or each person who may be liable under this Note
or any other Loan Document and without affecting the liability of Borrower or
any person who may be liable under this Note or any other Loan Document.

MISCELLANEOUS PROVISIONS. ASSIGNMENT. This Note and the other Loan Documents
shall inure to the benefit of and be binding upon the parties and their
respective heirs, legal representatives, successors and assigns. Bank's
interests in and rights under this Note and the other Loan Documents are freely
assignable, in whole or in part, by Bank. In addition, nothing in this Note or
any of the other Loan Documents shall prohibit Bank from pledging or assigning
this Note or any of the other Loan Documents or any interest therein to any
Federal Reserve Bank. Borrower shall not assign its rights and interest
hereunder without the prior written consent of Bank, and any attempt by Borrower
to assign without Bank's prior written consent is null and void. Any assignment
shall not release Borrower from the Obligations. ORGANIZATION; POWERS. Borrower
represents that Borrower (i) is (a) an adult individual and is sui juris, or (b)
a corporation, general partnership, limited partnership, limited liability
company or other legal entity, duly organized, validly existing and in good
standing under the laws of its state of organization, and is authorized to do
business in each other jurisdiction wherein its ownership of property or conduct
of business legally requires such organization (ii) has the power and authority
to own its properties and assets and to carry on its business as now being
conducted and as now contemplated; and (iii) has the power and authority to
execute, deliver and perform, and by all necessary action has authorized the
execution, delivery and performance of, all of its obligations under this Note
and any other Loan Document to which it is a party. APPLICABLE LAW; CONFLICT
BETWEEN DOCUMENTS. This Note and, unless otherwise provided in any other Loan
Document, the other Loan Documents shall be governed by and construed under the
laws of the State of Florida without regard to that state's conflict of laws
principles. If the terms of this Note should conflict with the terms of any loan
agreement or any commitment letter that survives closing, the terms of this Note
shall control. BORROWER'S ACCOUNTS. Except as prohibited by law, Borrower grants
Bank a security interest in all of Borrower's accounts with Bank and any of its
affiliates. JURISDICTION. Borrower irrevocably agrees to non-exclusive personal
jurisdiction in the state named in Bank's address on the first page hereof.
SEVERABILITY. If any provision of this Note or

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of the other Loan Documents shall be prohibited or invalid under applicable law,
such provision shall be ineffective but only to the extent of such prohibition
or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Note or other such document. NOTICES. Any notices
to Borrower shall be sufficiently given, if in writing and mailed or delivered
to the Borrower's address shown above or such other address as provided
hereunder, and to Bank, if in writing and mailed or delivered to Wachovia Bank,
National Association, Mail Code VA7391, P. O. Box 13327, Roanoke, VA 24040 or
Wachovia Bank, National Association, Mail Code VA7391, 10 South Jefferson
Street, Roanoke, VA 24011 or such other address as Bank may specify in writing
from time to time. Notices to Bank must include the mail code. In the event that
Borrower changes Borrower's address at any time prior to the date the
Obligations are paid in full, Borrower agrees to promptly give written notice of
said change of address by registered or certified mail, return receipt
requested, all charges prepaid. PLURAL; CAPTIONS. All references in the Loan
Documents to Borrower, guarantor, person, document or other nouns of reference
mean both the singular and plural form, as the case may be, and the term
"person" shall mean any individual, person or entity. The captions contained in
the Loan Documents are inserted for convenience only and shall not affect the
meaning or interpretation of the Loan Documents. ADVANCES. Bank may, in its sole
discretion, make other advances which shall be deemed to be advances under this
Note, even though the stated principal amount of this Note may be exceeded as a
result thereof. POSTING OF PAYMENTS. All payments received during normal banking
hours after 2:00 p.m. local time at the office of Bank first shown above shall
be deemed received at the opening of the next banking day. JOINT AND SEVERAL
OBLIGATIONS. Each person who signs this Note as a Borrower (as defined herein)
is jointly and severally obligated. FEES AND TAXES. Borrower shall promptly pay
all documentary, intangible recordation and/or similar taxes on this transaction
whether assessed at closing or arising from time to time.

ARBITRATION. Upon demand of any party hereto, whether made before or after
institution of any judicial proceeding, any claim or controversy arising out of
or relating to the Loan Documents between parties hereto (a "DISPUTE") shall be
resolved by binding arbitration conducted under and governed by the Commercial
Financial Disputes Arbitration Rules (the "ARBITRATION RULES") of the American
Arbitration Association (the "AAA") and the Federal Arbitration Act. Disputes
may include, without limitation, tort claims, counterclaims, a dispute as to
whether a matter is subject to arbitration, claims brought as class actions, or
claims arising from documents executed in the future. A judgment upon the award
may be entered in any court having jurisdiction. Notwithstanding the foregoing,
this arbitration provision does not apply to disputes under or related to swap
agreements. SPECIAL RULES. All arbitration hearings shall be conducted in the
city named in the address of Bank first stated above. A hearing shall begin
within 90 days of demand for arbitration and all hearings shall conclude within
120 days of demand for arbitration. These time limitations may not be extended
unless a party shows cause for extension and then for no more than a total of 60
days. The expedited procedures set forth in Rule 51 et seq. of the Arbitration
Rules shall be applicable to claims of less than $1,000,000.00. Arbitrators
shall be licensed attorneys selected from the Commercial Financial Dispute
Arbitration Panel of the AAA.

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The parties do not waive applicable Federal or state substantive law except as
provided herein. PRESERVATION AND LIMITATION OF REMEDIES. Notwithstanding the
preceding binding arbitration provisions, the parties agree to preserve, without
diminution, certain remedies that any party may exercise before or after an
arbitration proceeding is brought. The parties shall have the right to proceed
in any court of proper jurisdiction or by self-help to exercise or prosecute the
following remedies, as applicable: (i) all rights to foreclose against any real
or personal property or other security by exercising a power of sale or under
applicable law by judicial foreclosure including a proceeding to confirm the
sale; (ii) all rights of self-help including peaceful occupation of real
property and collection of rents, set-off, and peaceful possession of personal
property; (iii) obtaining provisional or ancillary remedies including injunctive
relief, sequestration, garnishment, attachment, appointment of receiver and
filing an involuntary bankruptcy proceeding; and (iv) when applicable, a
judgment by confession of judgment. Any claim or controversy with regard to any
party's entitlement to such remedies is a Dispute. WAIVER OF EXEMPLARY DAMAGES.
The parties agree that they shall not have a remedy of punitive or exemplary
damages against other parties in any Dispute and hereby waive any right or claim
to punitive or exemplary damages they have now or which may arise in the future
in connection with any Dispute whether the Dispute is resolved by arbitration or
judicially. WAIVER OF JURY TRIAL. THE PARTIES ACKNOWLEDGE THAT BY AGREEING TO
BINDING ARBITRATION THEY HAVE IRREVOCABLY WAIVED ANY RIGHT THEY MAY HAVE TO JURY
TRIAL WITH REGARD TO A DISPUTE.

                            [SIGNATURE PAGE FOLLOWS]

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      IN WITNESS WHEREOF, Borrower, on the day and year first above written, has
caused this Note to be executed under seal.

                                    BORROWER:

                                    COLE PT AUBURN HILLS MI, LLC, a Delaware
                                    limited liability company

                                    By: COLE REIT ADVISORS II, LLC, a Delaware
                                        limited liability company, its manager

                                        By: /s/  John M. Pons
                                            ------------------------------------
                                            John M. Pons, its Senior Vice
                                            President

STATE OF ARIZONA
COUNTY OF MARICOPA

      The foregoing instrument was acknowledged before me on December 13, 2005,
by John M. Pons, as Senior Vice President of COLE REIT ADVISORS II, LLC, a
Delaware limited liability company, as manager of COLE PT AUBURN HILLS MI, LLC,
a Delaware limited liability company, on behalf of the companies. He is
personally known to me or has produced a valid driver's license as
identification.

                                    /s/  Mary D. Bates
                                    --------------------------------------------
                                    NOTARY PUBLIC

                                    Mary D. Bates
                                    --------------------------------------------
                                    (Print, Type or Stamp Name)

                                    My Commission Expires: 9/3/08

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