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CIP Adds to Jax Industrial Holdings
CIP Real Estate purchased the 422,136-square-foot Imeson Commerce Center in Jacksonville for $53.7 million or $127 per square foot.
The project consists of a single Class A industrial building strategically located in the master-planned Imeson Park, immediately adjacent to Jacksonville’s port section. Constructed in 2023, the building is 100 percent leased to RoadOne, the largest independent intermodal logistics provider in North America.
CIP’s Eric Smyth added, “The Imeson building will be added to another pending industrial park acquisition in Jacksonville scheduled to close in October 2025, that will bring our portfolio to over 850,000 square feet in the market. Additionally, our team is starting construction by July on a 330,000-square-foot industrial project in Tampa, which will increase our total Florida portfolio to more than 1.8 million square feet.”
The Imeson Commerce Center acquisition was arranged by JLL and financed with Principal Life Insurance Company.
- ◦Sale/Acquisition
