Irvine-based CIP Real Estate announced this week it closed on industrial parks in Florida. The parks bring CIP Real Estate’s total portfolio to about 2 million square feet.
One of those industrial parks is at 3600 Causeway Blvd., Tampa. Causeway Logistics Center is under construction and would bring 331,000 square feet across three buildings once completed.
CIP Real Estate also bought two multi-tenant facilities with four small bay buildings near Miami International Airport. The campus spans 156,200 square feet.
The portfolio was 86% leased at the time of sale.
The JLL Capital Markets represented CIP Real Estate on the Tampa deal, while the Irvine company worked with CBRE’s Southeast mortgage brokerage team in securing the Miami area parks.
CIP Real Estate was founded in 1995 and specializes in industrial markets in Texas, the Southeast and West Coast. The real estate company manages and owns more than 10 million square feet of properties in Atlanta, Charlotte, Dallas, Hayward, California, Ontario, California and Riverside.
