Co-location patterns are well-established on spatial objects with categorical labels, which capture the phenomenon that objects with certain labels are often located in close geographic proximity. Similar to frequent itemsets, co-location patterns are defined based on a support measure which quantifies the popularity (or prevalence) of a pattern candidate (a label set). Quite a few support measures exist for defining co-location patterns and they share an idea of counting the number of instances of a given label set C as its support, where an instance of C is an object set whose objects carry all the labels in C and are located close to one another. Unfortunately, these measures suffer from various weaknesses, e.g., some fail to capture all possible instances while some others overlook the cases when multiple instances overlap. In this paper, we propose a new measure called Fraction-Score whose idea is to count instances fractionally if they overlap. Compared to existing measures, Fraction-Score not only captures all possible instances, but also handles the cases where instances overlap appropriately (so that the supports defined are more meaningful and consistent with the desirable antimonotonicity property). To solve the co-location pattern mining problem based on Fraction-Score, we develop efficient algorithms which are significantly faster than a baseline that adapts the stateof-the-art. We conduct extensive experiments using both real and synthetic datasets, which verified the superiority of Fraction-Score and also the efficiency of our developed algorithms.