C
IP Real Estate has acquired the 422,136-square-foot Imeson Commerce Center in Jacksonville, Florida for $53.75 million or $127 per square foot. The Class A industrial building is strategically located within the master-planned Imeson Park and immediately adjacent to Jacksonville's port section. Constructed in 2023 to state-of-the-art specifications, it is fully leased to RoadOne, North America's largest independent intermodal logistics provider.

    "We're pleased with this rare acquisition as our first project in Jacksonville," said Eric Smyth, CEO of CIP Real Estate. "The Imeson building will be added to another pending industrial park acquisition scheduled to close in October 2025, bringing our portfolio to over 850,000 square feet in the market."

    CIP Real Estate has also commenced construction on a 330,000-square-foot industrial project in Tampa and is developing three new buildings totaling about 350,000 square feet in Charlotte. By year-end 2025, the company expects its Southeast industrial portfolio to exceed 3.7 million square feet and its national portfolio to total over 11 million square feet.

    Founded in 1995, CIP Real Estate focuses on acquiring, repositioning, and managing industrial assets throughout West Coast, Southeast, and Texas markets. With offices across several states, the company owns and manages over 10 million square feet of quality properties.