**CIP Real Estate Acquires Jacksonville’s Imeson Commerce Center for $53.7M**
CIP Real Estate has acquired the Imeson Commerce Center, a 422,136-square-foot Class A industrial facility in Jacksonville, Florida, for $53.7 million, equating to approximately $127 per square foot.
The property, completed in 2023, is situated within the master-planned Imeson Park and benefits from its proximity to Jacksonville’s port. The facility is fully leased to RoadOne IntermodaLogistics, the largest independent intermodal logistics provider in North America.
CIP Real Estate’s CEO, Eric Smyth, noted that the Imeson acquisition will complement another pending industrial park transaction in Jacksonville, expected to close in October 2025. Combined, the two properties will bring CIP’s holdings in the Jacksonville market to more than 850,000 square feet. Smyth also announced that construction will commence in July on a 330,000-square-foot industrial project in Tampa, increasing the firm’s total Florida portfolio to over 1.8 million square feet.
The Imeson Commerce Center acquisition was brokered by JLL and backed by financing from Principal Life Insurance Company.
