{"id":1004754499,"date":"2025-04-15T11:29:52","date_gmt":"2025-04-15T19:29:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004754499"},"modified":"2025-04-15T11:29:54","modified_gmt":"2025-04-15T19:29:54","slug":"cip-real-estate-pays-54m-for-jacksonville-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/","title":{"rendered":"CIP Real Estate Pays $54M for Jacksonville Asset"},"content":{"rendered":"\n<p>CIP Real Estate has acquired Imeson Commerce Center, a recently completed 422,136-square-foot Class A distribution center in Jacksonville, Fla. JLL Capital Markets advised the sellers, North Signal Capital and Fox Capital Partners. The transaction\u2019s dollar value was $53.8 million.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004754554\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/imeson-commerce-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Imeson Commerce Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Imeson Commerce Center is part of Imeson Industrial Park in Jacksonville, Fla. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg\" alt=\"Imeson Commerce Center is part of Imeson Industrial Park in Jacksonville, Fla. \" class=\"wp-image-1004754554\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">Imeson Commerce Center is part of Imeson Industrial Park in Jacksonville, Fla. <em>Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The project was delivered in 2023 and is fully leased to RoadOne IntermodaLogistics, a leading North American intermodal trucking provider.<\/p>\n\n\n\n<p>Imeson Commerce Center features 36-foot clear heights, 81 dock-high doors, 180 parking spaces for trailers and 260 spaces for cars. In addition, the rear-load facility has been partially demised to provide 103,000 square feet of air-conditioned warehouse space.<\/p>\n\n\n\n<p>The 29.6-acre property is at 1000 Imeson Park Blvd. in Imeson Industrial Park, a major logistics hub that\u2019s less than 15 minutes from downtown Jacksonville, Jacksonville International Airport, JAXPORT, as well as I-95, I-295 and I-10.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/what-trumps-tariffs-could-mean-for-cre\/\">What Trump\u2019s Tariffs Could Mean for CRE<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The JLL Capital Markets Investment Sales and Advisory team included Senior Managing Director Luis Castillo, Managing Director Cody Brais, associate Taylor Osborne and analyst David Orta Jr.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sluggish-start-to-2025\">Sluggish start to 2025<\/h2>\n\n\n\n<p>Jacksonville\u2019s industrial space market is getting off to a slow start this year, with overall vacancy rising 180 basis points year-over-year to 6.9 percent and roughly a quarter-million square feet of negative net absorption in the first quarter, according to a new report from CBRE. In addition, this was Jacksonville\u2019s first quarter of negative absorption since 2019.<\/p>\n\n\n\n<p>One of the major concerns in this international trade\u2013centered market is the federal government\u2019s use of tariffs as a trade weapon. The Port of Jacksonville is the largest by volume in Florida and the 14th-largest in the U.S., as well as the nation\u2019s second-leading port for vehicles (ro-ro traffic).<\/p>\n\n\n\n<p>In January, <a href=\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-168m-for-phoenix-industrial-asset\/\">CIP acquired<\/a> an 809,230-square-foot Class A industrial park in Mesa, Ariz., from Canyon Partners Real Estate LLC, the real estate direct investing arm of Canyon Partners LLC, for $168.3 million. Cushman &amp; Wakefield brokered the sale of Broadway 101 Commerce Park and arranged the $93.8 million acquisition loan from institutional investors advised by J.P. Morgan Asset Management.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL advised the sellers of the newly built distribution center.<\/p>\n","protected":false},"author":882,"featured_media":1004754554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1591,21742,32781],"tags":[32789,33730,44006,37540],"class_list":["post-1004754499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-jacksonville","category-latest","category-southeast","tag-cbre","tag-cip-real-estate","tag-jll-capital-markets","tag-north-signal-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CIP Real Estate Pays $54M for Jacksonville Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"CIP Real Estate has acquired Imeson Commerce Center, a recently completed Class A distribution center in Jacksonville, Fla.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIP Real Estate Pays $54M for Jacksonville Asset\" \/>\n<meta property=\"og:description\" content=\"CIP Real Estate has acquired Imeson Commerce Center, a recently completed Class A distribution center in Jacksonville, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-15T19:29:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-15T19:29:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/\",\"name\":\"CIP Real Estate Pays $54M for Jacksonville Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg\",\"datePublished\":\"2025-04-15T19:29:52+00:00\",\"dateModified\":\"2025-04-15T19:29:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"CIP Real Estate has acquired Imeson Commerce Center, a recently completed Class A distribution center in Jacksonville, Fla.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg\",\"width\":800,\"height\":600,\"caption\":\"Imeson Commerce Center is part of Imeson Industrial Park in Jacksonville, Fla. Image courtesy of JLL Capital Markets\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CIP Real Estate Pays $54M for Jacksonville Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"CIP Real Estate Pays $54M for Jacksonville Asset - Commercial Property Executive","description":"CIP Real Estate has acquired Imeson Commerce Center, a recently completed Class A distribution center in Jacksonville, Fla.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/","og_locale":"en_US","og_type":"article","og_title":"CIP Real Estate Pays $54M for Jacksonville Asset","og_description":"CIP Real Estate has acquired Imeson Commerce Center, a recently completed Class A distribution center in Jacksonville, Fla.","og_url":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-04-15T19:29:52+00:00","article_modified_time":"2025-04-15T19:29:54+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/","name":"CIP Real Estate Pays $54M for Jacksonville Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg","datePublished":"2025-04-15T19:29:52+00:00","dateModified":"2025-04-15T19:29:54+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"description":"CIP Real Estate has acquired Imeson Commerce Center, a recently completed Class A distribution center in Jacksonville, Fla.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg","width":800,"height":600,"caption":"Imeson Commerce Center is part of Imeson Industrial Park in Jacksonville, Fla. Image courtesy of JLL Capital Markets"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/cip-real-estate-pays-54m-for-jacksonville-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"CIP Real Estate Pays $54M for Jacksonville Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/Imeson-Commerce-Center.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004754499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004754499"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004754499\/revisions"}],"predecessor-version":[{"id":1004754556,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004754499\/revisions\/1004754556"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004754554"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004754499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004754499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004754499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}