News Summary
CIP Real Estate has made significant expansions in Florida by acquiring industrial parks that increase their portfolio to around 2 million square feet. The acquisitions include the Causeway Logistics Center, under construction in Tampa, and two multi-tenant facilities near Miami International Airport. Other notable transactions involve Walton Capital purchasing an industrial park in Fort Myers and Skanska securing a contract for a medical building in Fort Myers, highlighting an active real estate market in the state.
Tampa, Florida — CIP Real Estate, an established company based in Irvine, California, has expanded its portfolio with the acquisition of new industrial parks in Florida. This recent acquisition brings the total footprint of CIP Real Estate’s portfolio to approximately 2 million square feet across the state.
Among the newly acquired properties is the Causeway Logistics Center, located at 3600 Causeway Blvd. in Tampa. This logistics center is currently under construction and is expected to comprise three buildings totaling 331,000 square feet once completed. In addition, CIP Real Estate purchased two multi-tenant facilities near Miami International Airport, covering 156,200 square feet. At the time of the sale, these Miami properties were reported to be 86% leased.
To facilitate the Tampa acquisition, CIP Real Estate received representation from JLL Capital Markets, while financing for the Miami facilities was secured through collaboration with CBRE’s Southeast mortgage brokerage team.
CIP Real Estate was founded in 1995 and specializes in the management and ownership of industrial markets across Texas, the Southeast, and the West Coast. The company currently manages over 10 million square feet of properties in key locations, including major cities such as Atlanta, Charlotte, Dallas, and various sites in California.
In parallel, other significant real estate transactions are taking place in Florida. An unrelated Chicago-based firm, Walton Capital, has purchased the Tri-County 75 industrial park in Fort Myers for $155 million. This extensive park spans 818,000 square feet distributed across four warehouse buildings, which are currently 95% occupied. Prominent tenants at Tri-County 75 include Ferguson Enterprises, Mechanical One, and NB Handy. Walton Capital has raised nearly $17 billion in investment capital and has acquired properties worth over $55 billion since its inception in 1994. The sale of Tri-County 75 was facilitated by CBRE.
As part of ongoing developments, Skanska has secured a contract for constructing a $435 million medical building and hospital for Lee Health in Fort Myers. The planned facility will be 416,000 square feet and will include a central energy plant and a 125,000-square-foot medical office building, featuring multiple operating rooms, a rehabilitation gym, and various specialty clinics. Skanska anticipates the completion of this project in the fourth quarter of 2027.
In another noteworthy expansion, The Soule Co., a manufacturer focused on patient positioning products, is relocating to a new 127,280-square-foot facility at the North Tampa Bay 75 business center. This move is expected to create 10 new jobs and an investment of $400,000. The North Tampa Bay 75 center is designed to accommodate up to 850,000 square feet across its four buildings.
Meanwhile, in Tampa, the Gasworx redevelopment project has debuted the La Union Residence & Social Hall, offering 317 units. Gasworx is a significant 50-acre redevelopment project that aims to provide 5,000 residences, 500,000 square feet of office space, and 140,000 square feet of retail space.
Additionally, Echo Suites Hotel has acquired a two-acre site at the Mirasol Town Center in Nokomis for $2.01 million to construct a 110-room extended stay hotel. Mirasol Town Center itself is a comprehensive 50-acre mixed-use development. Moreover, MLG Capital has acquired The Venetian at Capri Isles apartment community in Venice, with plans to implement improvements to enhance its appeal. The financial details of the acquisition have not been disclosed.
Lastly, MiTek is preparing to build a 480,000-square-foot manufacturing plant in Zephyrhills, with an investment of nearly $80 million projected to generate new jobs. The development will occur in three phases, with the initial phase already underway focusing on site preparations and permits.
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Additional Resources
- The Ledger: Airport Road Changes
- Wikipedia: Industrial Park
- Business Observer: Fort Myers Industrial Park Sale
- Google Search: Fort Myers Industrial Park
- Laker Lutz News: MiTek Manufacturing Plant
- Google Scholar: MiTek Manufacturing
- Business Observer: Manufacturer Build in Pasco
- Encyclopedia Britannica: Florida Real Estate
- Rebusiness Online: Rooker Breaks Ground in Wesley Chapel
- Google News: Wesley Chapel Industrial Building
Author: STAFF HERE COSTA MESA WRITER
COSTA MESA STAFF WRITER The COSTA MESA STAFF WRITER represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, Concerts in the Park, and Fish Fry. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Boys & Girls Clubs of Central Orange Coast, plus leading businesses in retail, fashion, and technology that power the local economy such as Vans, Experian, and South Coast Plaza. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
