CIP Real Estate has acquired Lyons Business Park, a 26-acre flex-industrial and office campus in Coconut Creek, Florida, for $99 million. The purchase gives the Irvine, California-based investor a 338,000-square-foot South Florida asset near major highways and marks its second regional acquisition in roughly a year.
Key takeaways
- Lyons Business Park includes 10 buildings, 92 grade-level loading doors and about 600 parking spaces.
- BMO Bank provided a $66.9 million acquisition loan maturing in July 2029, with a potential extension to 2031.
- The purchase follows CIP’s $47 million acquisition of two Hialeah warehouses.
- Broward County’s industrial vacancy rate was 5.4 percent in the second quarter.
The transaction strengthens CIP’s presence in one of Florida’s most supply-constrained industrial markets while adding a diversified, multi-tenant property to its Southeast portfolio.
A sizable Coconut Creek campus
Located at 6601 Lyons Road near Johnson Road, Lyons Business Park consists of 10 one-story buildings completed in phases between 1990 and 2000. The Class B campus offers 18-foot clear heights, 92 grade-level loading doors and approximately 600 parking spaces.
The property is occupied by a range of industrial, manufacturing, technology and service-oriented businesses. Reported tenants include Coconut Creek Finance, Impero Wine Distributors USA, Salma Systems, Access Masters and Palm Aluminum and Glass.
A vacant warehouse of roughly 3,000 square feet is being marketed for lease, providing CIP with an opportunity to capture additional income through future leasing activity.
Financing and ownership
BMO Bank acted as administrative agent for a lending group and supplied the acquisition financing. The $66.9 million loan is scheduled to mature in July 2029 and may be extended to 2031.
Broward County records identify Industrial Development Co. and Lyons Corporate Park LLC as the sellers. The property had remained under prior ownership for decades, with affiliated ownership linked to the Lasser family and other parties.
CIP builds its Southeast platform
The Lyons Business Park acquisition is CIP’s second South Florida investment in the past year. The firm previously paid $47 million for two small-bay warehouse properties in Hialeah in a transaction with TA Realty.
CIP raised $300 million in 2024 to expand its industrial portfolio across the Southeast. The latest deal reflects that strategy, targeting established properties in densely populated markets where limited land availability can support tenant demand and rent growth.
Broward market remains competitive
Broward County’s industrial market continues to benefit from its central position in South Florida and access to a large employment base. Lyons Business Park is close to Sawgrass Expressway, Florida’s Turnpike and Interstate 95, while downtown Fort Lauderdale and Fort Lauderdale-Hollywood International Airport are within about 25 miles.
The county’s industrial vacancy rate stood at 5.4 percent in the second quarter, according to market data, down slightly from the end of 2025 but higher than a year earlier. New construction totaled about 552,000 square feet, representing one of the smallest development pipelines in Florida.
Those conditions have sustained investor interest. A larger nearby transaction saw Prologis acquire the 1.2 million-square-foot Davie Business Center for $352.2 million, underscoring continued institutional demand for South Florida industrial assets.
Sources
- CIP Real Estate Buys Broward Campus for $99M – Commercial Observer, Commercial Observer.
- CIP Real Estate Pays $99M for Metro Miami Asset, CommercialSearch.