CIP Real Estate Acquires Industrial Properties In Hialeah And Miami For $47 Million

The property asset involved in this transaction is an industrial asset located at 2500 West 84th Street and 5055 & 5065 Northwest 74th Avenue in the Hialeah and Miami markets. The total transaction amount was $47 million, covering an area of 155,475 square feet, resulting in a price per square foot of $302. The property spans 8.25 acres and was reported to be 86% leased across 25 tenants. The assets nearly doubled in value since their prior sale for $25 million in 2020, although the market has softened in 2025.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $47,000,000
• Address: 2500 West 84th Street, 5055 & 5065 Northwest 74th Avenue
• Market: Hialeah & Miami
• Assets Size: 155,475 square feet
• Price per Square Foot: $302
• Acres: 8.25
• Buyer: Eric Smyth - CIP Real Estate
• Seller: James O. Buckingham & Michael R. Haggerty - TA Realty
• Broker Representatives: Jose Lobon, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun & Daniel Sarmiento - CBRE

This transaction involved Eric Smyth representing CIP Real Estate as the buyer, while James O. Buckingham and Michael R. Haggerty represented TA Realty as the sellers. Multiple brokers from CBRE facilitated the deal, highlighting the collaborative effort behind the transaction. Notably, the sale reflects a significant appreciation in property value since the last recorded sale, influenced by rising rents despite the current market conditions.