Updated Jul 31, 2026
Eric Smyth Of CIP Real Estate Acquires Industrial Portfolio In Coconut Creek For $99M
6601 Lyons Road
$99,000,000
$293/SF
Building Size
337,392 SF
Asset Type
Industrial
Closing
Jul 30, 2026
About this deal
AI
The property asset involved in the transaction is located at 6601 Lyons Road, Coconut Creek, FL. This industrial asset consists of a 337,392-square-foot portfolio comprising 10 buildings, with a sale price of $99 million, translating to a price per square foot of $293.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $99,000,000
- Buyer: Eric Smyth - CIP Real Estate
- Seller: Robin Louis - Industrial Development Co. and Lyons Corporate Park LLC
- Lender: BMO Bank
- Loan Amount: $66,900,000
This acquisition marks CIP Real Estate's second industrial acquisition in South Florida for 2025, highlighting the company's strategic expansion in the region's industrial market.
On the Map
$99,000,000
$293/SF
Industrial
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Players
Coconut Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93