CIP Expands Tampa Footprint with $27.25M Industrial Acquisition
CIP Real Estate has purchased Sunstate Park in Tampa, FL, for $27.25 million. Located in Tampa’s north airport sub-market, Sunstate Park consists of 180,367-square-feet of flex and industrial space with 32 tenants.
CIP Real Estate entered the Florida market in late 2022, acquiring two business parks in East Tampa for $74.5 million. Acquiring this third asset in less than a year, CIP has increased its Tampa industrial portfolio to more than 585,000 square feet. The company plans on investing more than $2 million on improvements to interior suites and the exterior appearance of Sunstate Park.
The seller was a partnership of Belay Investment Group and Birtcher Anderson Davis, which was represented by Colliers in the transaction. The Cushman & Wakefield Florida debt team of Jason Hochman, Ron Granite and Sean Campbell sourced the acquisition financing for CIP Real Estate.
Angela Noote is a native of Northern California and graduated from Chico State with a degree in public relations. After college she moved to the Central Coast and worked first in ad sales then in editorial, eventually spending more than a decade as a print reporter and editor. She detoured into design work at a printer/publisher, and with a partner eventually opened a boutique full-service marketing agency. Moving into corporate communications, she built and managed several successful marketing teams in the hospitality, financial services, and nonprofit industries. Most recently she was an internal comms manager in the tech sector. After a long stint spent in Georgia (Go Dawgs), she moved to Baton Rouge, LA and has written for clients in the financial, luxury imports, higher ed, commercial cleaning, and medical equipment industries. Her son is a media arts major at the University of South Carolina, and her husband owns a comedy theater in Baton Rouge, where you can often find Angi teaching improv classes, leading corporate training events, or doing an occasional stand up set.