A 26-acre Coconut Creek business park has changed hands for $99 million, putting one of North Broward’s long-held commercial properties under new ownership. The deal also gives industrial investor CIP Real Estate a larger South Florida footprint as buyers continue circling well-located warehouse campuses.
The property is Lyons Corporate Park, and South Florida Business Journal reported that CIP bought the park in its first-ever sale. The article identifies Brian Bandell as the reporter and describes the transaction as a $99 million deal covering 26 acres.
A Small-Bay Industrial Campus In Coconut Creek
Marketing materials from CBRE describe Lyons Business Park as roughly 347,200 square feet across 10 industrial buildings. The offering memorandum said the campus was about 95% leased to 61 tenants, with an average tenant size of roughly 5,433 square feet — the kind of smaller-bay space sought by contractors, distributors and local service businesses.
The park’s location is part of the appeal, with access to the Sawgrass Expressway, Florida’s Turnpike and Interstate 95. That highway connectivity matters in a county where tenants increasingly want flexible warehouse and light-industrial space close to customers, workers and regional shipping routes.
CIP Adds Another Florida Industrial Asset
CIP Real Estate, based in Irvine, California, focuses on acquiring, repositioning and managing industrial properties across the Southeast, West Coast and Texas. In its own company materials, CIP says it owns and manages more than 9.5 million square feet, and its existing Florida projects include business parks in the Tampa area, according to CIP Real Estate.
The Coconut Creek purchase arrives during an active year for Broward industrial property. JLL reported in June that Broward County had surpassed $1 billion in industrial transaction volume for 2026 after the sale of a nine-property, 419,253-square-foot portfolio to Dalfen Industrial.
Investors Still Want Broward’s Infill Warehouses
The market is attracting capital even as it cools from its pandemic-era frenzy. CBRE’s second-quarter figures showed positive net absorption of 245,000 square feet and a 6.2% vacancy rate, while average asking rents reached $17.58 per square foot.
That split personality — more available space, but continued demand for strategically located industrial properties — has shaped several recent Broward deals. A previous Hoodline report detailed an $81.5 million sale of a Lauderdale Lakes warehouse campus, another sizable bet on multi-tenant infill space.
For Coconut Creek, the sale marks a change in ownership rather than an announced redevelopment plan. The near-term focus will likely be whether CIP keeps Lyons Corporate Park’s existing small-bay model intact, upgrades the campus or uses the property as a platform for additional Broward acquisitions.
