CIP Real Estate Pays $99M for Metro Miami Asset

August 4, 2026

Investment Finance Industrial Miami More News Southeast

This is the first time the property changed hands.

Image of one of the buildings at Lyons Business Park, a 10-building flex industrial park in Coconut Creek, Fla. — The campus comprises 10 buildings and some 600 parking spots. Image courtesy of Yardi Matrix

CIP Real Estate has paid $99 million for Lyons Business Park, a flex industrial campus totaling 338,000 square feet in Coconut Creek, Fla., according to South Florida Business Journal. This is the first time the property changed hands.

Industrial Development Co. and Lyons Corporate Park LLC sold the asset, according to Broward County public records. BMO Bank provided a $66.9 million acquisition loan for the transaction, with a maturity date set for July 2029 and the possibility of an extension to 2031.

Spanning 26 acres, Lyons Business Park is at 6601 Lyons Road. The property is close to Sawgrass Expressway, Florida’s Turnpike and a short drive from Interstate 95, providing regional connectivity across South Florida.

The business campus is within the Coral Springs-Coconut Creek corridor, which supports a diverse employment base in the region, including a mix of logistics, manufacturing and technology companies. Downtown Fort Lauderdale, Fla., and its international airport are within 25 miles.

Completed in phases between 1990 and 2000, the Class B asset includes 10 one-story facilities with 18-foot clear heights. The property features a total of 92 grade-level loading doors and some 600 parking spots.

The complex is home to a diverse range of tenants. The roster includes Coconut Creek Finance, Impero Wine Distributors USA, Salma Systems, Access Masters and Palm Aluminum and Glass, among others, according to Yardi Matrix information.

Broward County’s tight industrial fundamentals

Broward County’s industrial sector remains one of the tightest in Florida, according to a second-quarter Cushman & Wakefield report. The market’s vacancy rate clocked in at 5.4 percent, down 20 basis points from the end of 2025, but 110 basis points higher over the year. Meanwhile, construction activity contracted to 552,000 square feet—the second-smallest pipeline in the state.

These market conditions helped sustain investor demand. According to the report, the largest industrial investment of the second quarter was the $352.2 million sale of Davie Business Center in Davie, Fla. Prologis acquired the 1.2 million-square-foot campus from IDI Logistics in June.