
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.
- ◦Sale/Acquisition