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Imeson Commerce Center in Jacksonville, Florida, is now owned by an Orange County-based real estate company.
Irvine-based CIP Real Estate Property Services doled out $54 million for a 422,136-square-foot warehouse at Imeson Commerce Center in Northeast Florida.
CIP Real Estate bought the industrial property from North Signal Capital and Fox Capital Partners. The industrial distribution center features 36-foot clear heights, 81 dock-high doors and parking for 180 trailers.
The single-level warehouse was built in 2023 on nearly 30 acres of land. RoadOne IntermodaLogistics leased the entire warehouse and moved into the industrial space in March 2024, according to CoStar data.
“The Imeson building will be added to another pending industrial park acquisition in Jacksonville scheduled to close in October 2025, that will bring our portfolio to over 850,000 square feet in the market,”
CIP Real Estate CEO Eric Smyth said in a statement. “Additionally, our team is starting construction by July on a 330,000-square-foot, industrial project in Tampa, which will increase our total Florida portfolio to more than 1.8 million square feet.” CIP Real Estate is also building three new buildings spanning 350,000 square feet in Charlotte, North Carolina. Construction is slated to be completed later this year.
By the end of 2025, CIP Real Estate expects its Southeast industrial portfolio to exceed 3.7 million square feet and its national portfolio to total more than 11 million square feet, the company said. Real estate advisory firm JLL arranged the deal, which was financed by Principal Life Insurance Company. n