Imeson Commerce Center, the newly acquired industrial facility by CIP Real Estate in Jacksonville.
CIP Real Estate has entered Jacksonville’s industrial sector with the acquisition of the Imeson Commerce Center for $53.75 million. This 422,136-square-foot facility, already leased to RoadOne Intermodal Logistics, includes impressive features like 36-foot clear heights and ample parking. The purchase marks CIP’s first project in Jacksonville and sets the stage for further expansion, including an upcoming new industrial project in Tampa. With prime logistics positioning and growth plans, CIP Real Estate is set to reshape the local market.
In an exciting turn of events for Jacksonville’s industrial landscape, CIP Real Estate has made a big splash with their recent acquisition of the Imeson Commerce Center, a whopping 422,136-square-foot facility! This jaw-dropping deal was sealed for $53.75 million, marking a significant moment for the California-based company as it marks their first project in this vibrant city.
The Imeson Commerce Center, located at 1000 Imeson Park Blvd., is no ordinary building. This impressive facility is designed to meet the highest standards with its Class A industrial building specifications. Completed just this year in 2023, the center is 100% leased to none other than RoadOne Intermodal Logistics, the biggest independent intermodal logistics provider in North America.
As if the spacious square footage isn’t enough, the center boasts some remarkable features, including 36-foot clear heights, which offers plenty of vertical space for operations. Trucking companies will be thrilled to know that there are 81 dock-high doors available for quick loading and unloading. Additionally, the property provides ample parking with 260 car parking spaces and 180 trailer parking spaces to accommodate all kinds of logistics needs.
This ambitious acquisition is just the beginning for CIP Real Estate. Besides the newly acquired Imeson Commerce Center, the company is gearing up for another major industrial park acquisition scheduled to close by October 2025. With this expansion, CIP’s footprint will grow to over 850,000 square feet in Jacksonville, which is a significant leap for their operations here.
Furthermore, the excitement doesn’t stop in Jacksonville! CIP Real Estate is also set to break ground on a new 330,000-square-foot industrial project in Tampa by July. With these ongoing and future endeavors, the overall Florida portfolio for CIP Real Estate is projected to soar beyond 1.8 million square feet. Talk about keeping busy!
Part of what makes the Imeson Commerce Center such an attractive investment is its prime location. Strategically situated near key logistics assets, the facility enjoys proximity to JAXPORT and major highways Interstates 95 and 295. This kind of accessibility is critical for logistics operations, allowing quick transportation and distribution of goods.
The sale of the Imeson Commerce Center was expertly facilitated by JLL Capital Markets, who represented the sellers, North Signal Capital and Fox Capital Partners. The deal was also backed by financing from Principal Life Insurance Company, ensuring a smooth transition as CIP Real Estate embarks on this new venture.
With such massive expansion on the horizon, the Jacksonville industrial scene has certainly garnered a new champion in CIP Real Estate. As they continue to grow and adapt to market dynamics, it’s clear that Jacksonville is poised for an exciting future in logistics and industrial capabilities.
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