Basis Industrial, a privately held real estate owner and operator, based in Delray Beach, has acquired a portfolio of five business parks in the Tampa Bay area, for $60 million.
The acquisition, which closed March 19, adds 472,512 square feet to Basis’ holdings and doubles its footprint in the Tampa metropolitan area. Basis now owns or manages over 1 million square feet in the region and more than 5 million square feet nationwide, with assets under management exceeding $1 billion.
The purchase was made with financing from Beach Point Capital Management, marking the fourth transaction between the two firms. Basis Managing Partner Anthony Scavo represented the buyer, while Bob Anderson of Birtcher Anderson represented the seller.
The five properties include:
Bryan Dairy Business Park in Largo: 102,166 square feet
Starkey Center I & II in Largo: 102,652 square feet
Turtle Creek in Clearwater: 121,217 square feet
Cross Bayou in Largo: 58,088 square feet
ICOT IV & Condo in Clearwater (combined square footage not specified)
Planned renovations will address parking lots, sidewalks, roofs, building exteriors, landscaping and signage.