Basis Industrial Completes $32 Million Orlando Acquisition of Self-Storage Development Site in Melbourne, FL

 

Daniel Weinstein

MIAMI, FL –– Basis Industrial, a privately held and vertically integrated real estate owner and operator, continued its flurry of acquisitions with the $32 million purchase of a mixed-use asset in the Orlando market.

Anthony Scavo

The newly acquired assets total 254,000 square feet, with 150,000 square feet of multi-tenant flex space and 100,000 square feet of office suites.

 

The acquisition of the 7550-7800 Southland Blvd. property closed on Nov. 30. Following the closing, Basis now owns and manages more than 1.1 million square feet of multi-tenant industrial and mixed-use real estate.

 

 This transaction also brings the firm’s total portfolio in the Orlando market to over 600,000 square feet.

“We are extremely bullish on the Orlando market, as strong population growth and the evolving distribution landscape has increased the need for high-quality and well positioned industrial assets,” said Basis Industrial CEO Daniel Weinstein.

 

“One of our first industrial transactions was in Orlando and we plan to continue growing our footprint there.”

 

Jay Massirman

The Orlando acquisition immediately follows Basis closing on a four-acre development site in Melbourne – part of Florida’s Space Coast region.

 

 Basis plans to develop a Class A self-storage facility with 125,000 square feet on the 2480 Aurora Road site, which it purchased on Nov. 22.

 

In only nine months since its initial launch, Basis has amassed a vast portfolio of existing multi-tenant industrial and self-storage space and development sites – with a focus on Florida and the Sun Belt. Basis has active developments in 12 states.

 

The firm is becoming Florida’s largest small-bay industrial owner and operator.

Stephen Garchik 

“We are perhaps the only group actively acquiring and self-managing in this asset class,” said Basis Industrial Chief Operating Officer | Partner Anthony Scavo.

 

Basis uses its subsidiary management company, BaySpace, to manage the company’s industrial assets.

 

About Basis Industrial

 

Basis Industrial is a vertically integrated real estate owner and operator formed by industry veterans and sponsors Jay Massirman, Stephen Garchik and Daniel Weinstein.

 

 Basis brought Anthony Scavo on as C.O.O. and partner to run day to day activities of the company.

 

 

CONTACTS:

 

 

Eric Kalis

954-370-8999

ekalis@boardroompr.com

 

 

Max Brodsky

Account Coordinator,

 BoardroomPR

mbrodsky@boardroompr.com

O 954-370-8999

C 954-279-7574

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 www.basisindustrial.com/ or

 www.bayspace.com.