At Basis Industrial, we are proud to announce the successful acquisition of three significant commercial assets in Texas and Florida, totaling 1,107,509 square feet. This transaction, completed in August 2024, marks a pivotal moment for our expansion strategy, bringing us above 1 million square feet of shallow bay/multi-tenant industrial space in the Dallas/Fort Worth area and growing our Tampa Metropolitan Statistical Area (MSA) portfolio to 650,000 square feet.
Beach Point Capital Management provided financing for these acquisitions, with Newmark facilitating debt sourcing. The newly acquired portfolio includes a mix of shallow bay multi-tenant industrial properties and an institutional-quality business park, solidifying our presence in key markets.
Details of the Acquisitions:
DFW II, Dallas/Fort Worth area, Texas:
This 439,916-square-foot asset comprises eight properties, with tenants including California Fruit Exchange, 1 Dust Group, Midpoint Auto Group, and Liturgical Publications. Future plans include renovations to the exterior, roof replacement, HVAC updates, drainage, and landscaping. This acquisition strengthens our footprint in a market driven by significant demand and major transportation access.
- Locations:
- 2901, 2905, 2921, 2951 Suffolk Drive, Fort Worth, TX 76133
- 1655-1663 Hickory Drive, Haltom City, TX 76117
- 1100-1220 Luke Street, Irving, TX 75061
- 2526 Manana Drive, Dallas, TX 75220
- 4101 Lindbergh Drive, Addison, TX 75001
- 3300 Garden Brook Drive, Farmers Branch, TX 75234
- 3113 C Garden Brook Drive, Farmers Branch, TX 75234
- 3109 Garden Brook Drive, Farmers Branch, TX 75234
DFW III & Houston I, Dallas/Fort Worth and Houston area, Texas:
This 461,318-square-foot asset was acquired off-market and includes properties with tenants like Francisco & Sons Auto, Ministerios Linaje Escogido, LX Granite, and Roof Management Services, Inc. We have planned future exterior renovations, roof replacement, HVAC updates, and landscape improvements for these properties.
- Locations:
- 1510 Randolph Street, Carrollton, TX 75006
- 2650 Northaven Road, Dallas, TX 75229
- 10031 Monroe Drive, Dallas, TX 75229
- 3201-3217 E Pioneer Parkway, Arlington, TX 76010
- 13475 Fondren Road, Houston, TX 77085
- 7330-7334 Rampart Street, Houston, TX 77081
Pinellas Business Center, St. Petersburg, Florida:
This 206,275-square-foot property was acquired for $27.2 million and is strategically located at the entrance to Pinellas County within the Gateway submarket. Its location offers tenants exceptional connectivity to major thoroughfares in the Tampa Bay region. Current tenants include Sensidyne, Leidos, Curant Health Florida, IDEXX Reference Laboratories, and Sunbelt Home Solutions. Planned enhancements include asphalt seal coating, landscaping, site clean-up, and full roof maintenance.
- Location:
- 10901-11001 Roosevelt Boulevard & 1000 112th Circle North, St. Petersburg, FL 33716
This strategic portfolio acquisition demonstrates our commitment to growth and resilience, even in challenging economic conditions. Our expansion in Dallas/Fort Worth and the Tampa MSA aligns with our goal of reaching over 1 million square feet of ownership and management in these markets by the end of 2024.
Our team at Basis Industrial is dedicated to outperforming and delivering value in every transaction, and this recent acquisition is a testament to that commitment. We continue to seek opportunities for expansion and strengthening our presence in key markets, positioning ourselves for sustained success.
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 to run day-to-day activities of the company. He now serves as managing partner. Together they have over 100 years of combined Real Estate Development and Management experience. Basis currently owns over 5 million square feet of self-storage and industrial real estate and is scheduled to close and/or complete another 1 million square feet in 2024. Active markets for Basis include Florida, Pennsylvania, New Jersey, New York, Texas, Boston, Los Angeles, Alabama and select urban markets nationwide. In total, the sponsors have developed and managed over 15 million square feet of real estate assets including self-storage, industrial, retail, office and residential. BaySpace is the property management arm of Basis. In 2023, Basis Industrial was ranked the No. 1 fastest-growing company by South Florida Business Journal. In 2024, Basis was the winner of Commercial Observer’s Breakthrough Awards in the Industrial Transaction of the Year category. For more information, visit www.basisindustrial.com or www.bayspace.com.