CIP Real Estate has purchased Sunstate Park in Tampa, FL for $27.25 million, expanding their presence in the Florida market. Located in Tampa’s north airport sub-market, this 180,367-square-foot flex and industrial space is home to 32 tenants.
This acquisition marks CIP’s third asset purchase within a year since entering the Florida market late 2022 with two business parks located east of Tampa totaling $74.5 million; increasing their total portfolio size to over 585,000 square feet across all three properties combined. The company plans on investing more than $2 million towards improvements of interior suites and exterior appearance at Sunstate Park as well as other locations throughout its portfolio holdings .
The seller was a partnership between Belay Investment Group and Birtcher Anderson Davis who were represented by Colliers during the transaction process while Cushman & Wakefield’s debt team consisting of Jason Hochman , Ron Granite ,and Sean Campbell sourced financing for CIP Real Estate .
