CIP Real Estate Expands Portfolio with Major Florida Acquisitions
CIP Real Estate Expands Portfolio with Major Florida Acquisitions
CIP Real Estate has made a significant move by acquiring three prime industrial parks in Florida recently, boosting its total footprint in the state to around 2 million square feet. This strategic investment of $66.45 million underscores the company’s commitment to enhancing its presence in the region.
New Projects in Tampa
In Tampa, CIP Real Estate secured 26 acres of industrial infill land situated at 3600 Causeway Boulevard. With groundbreaking completed at the end of July, the upcoming Causeway Logistics Center is set to include three buildings with a total area of 331,000 square feet. This location is particularly advantageous, being just minutes from downtown and offering visibility of the port, along with access to key transportation routes like I-4 and I-75.
Details on the Causeway Logistics Center
The new complex will consist of two rear-loaded warehouses, sized at 110,000 and 142,000 square feet, respectively. Additionally, there will be a standalone warehouse of 79,000 square feet with its own vehicle access. These buildings are specifically designed to appeal to tenants looking for flexible space options, ranging from 20,000 to 142,000 square feet. They feature modern layouts, including 32-foot clear heights, advanced sprinkler systems, and upscale office finishes, making them ideal for various businesses.
Insights from Leadership
Ankoor Jivan, Southeast Acquisitions Director for CIP Real Estate, emphasized the rarity of such an opportunity to develop complex industrial facilities so close to the port and nearby communities. He noted the significant growth in the Tampa market, which currently lacks adequate supply for businesses seeking mid-sized industrial spaces between 20,000 and 75,000 square feet.
Miami Dock-High Portfolio Acquisition
Alongside its Tampa acquisition, CIP Real Estate has also invested in the Miami Dock-High Portfolio, located within the bustling submarkets of Doral and Hialeah. This portfolio encompasses two multi-tenant facilities, totaling 156,200 square feet and featuring four small-bay industrial buildings. Notably, both locations have convenient access to major highways and Miami International Airport, enhancing their appeal.
Portfolio Features
The Miami Dock-High Portfolio consists of dock-high frontload warehouse suites, with sizes varying from 4,000 to 8,000 square feet. These facilities include flexible punchout demising walls, allowing for tenant customization and accommodating a variety of space needs. Currently, the portfolio boasts an impressive 86% lease rate, indicating strong demand for the available spaces.
Representation and Brokerage
CIP Real Estate worked with JLL Capital Markets for the Tampa acquisition and debt placement, ensuring a smooth transaction process. In Miami, the Southeast mortgage broker team from CBRE, led by Brian Linnihan and Taylor Crowder, represented CIP Real Estate, contributing their expertise to the venture.
About CIP Real Estate
CIP Real Estate is recognized as a leading full-service real estate investment company, specializing in the acquisition, repositioning, rebranding, and management of industrial assets across the West Coast, Southeast, and Texas markets. Since its establishment in 1995 and headquartered in Irvine, CA, the company has grown to own and manage over 10 million square feet of high-quality properties. It boasts a network of offices in several key cities, including Ontario, Riverside, Hayward, Las Vegas, Charlotte, Atlanta, and Dallas.
Media Inquiries
For more information, please contact Christine Byrd at Christine@writerbyrd.com.
Frequently Asked Questions
What is the total investment made by CIP Real Estate in Florida?
CIP Real Estate invested $66.45 million in acquiring industrial portfolios in Florida.
What are the main features of the Causeway Logistics Center in Tampa?
The Causeway Logistics Center will include three buildings totaling 331,000 square feet with modern features designed for tenant flexibility.
Where is the Miami Dock-High Portfolio located?
The Miami Dock-High Portfolio is located in the Doral and Hialeah industrial submarkets of Miami.
What is the current leasing status of the Miami Dock-High Portfolio?
The Miami Dock-High Portfolio is currently 86% leased, showing strong market demand.
Who represented CIP Real Estate in its acquisitions?
CIP Real Estate was represented by JLL Capital Markets for the Tampa acquisition and CBRE for the Miami portfolio.
About The Author
Contact Dylan Bailey privately here. Or send an email with ATTN: Dylan Bailey as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
