At Basis Industrial, we are proud to announce the acquisition of a five-property business park portfolio in the Tampa, Florida area for $60 million. The transaction officially closed on March 19, 2025, and significantly enhances our presence in the region.
With this purchase, we now own and/or manage more than 5 million square feet of industrial space across the country, with over $1 billion in assets under management. This portfolio doubles our footprint in the Tampa Metropolitan Statistical Area (MSA), bringing our total to more than 1 million square feet of owned and managed industrial assets in this fast-growing region.
The five Tampa-area properties acquired total 472,512 square feet and include Bryan Dairy Business Park (7201–7243 Bryan Dairy Road, Largo, FL), Starkey Center I and II (12345/12505 Starkey Road, Largo, FL), Turtle Creek (4900–4914 Creekside Drive, Clearwater, FL), Cross Bayou (11701 S. Belcher Road, Largo, FL), and ICOT IV & Condo (13921–13923 Icot Boulevard / 13830–13922 N. 58th Street, Clearwater, FL).
This strategic acquisition was facilitated through our long-standing relationship with the seller. Our Managing Partner, Anthony Scavo, represented Basis in the transaction, with Bob Anderson, Co-Chairman and Principal of Birtcher Anderson, representing the seller. Financing was provided by Beach Point Capital Management.
This marks the fourth transaction between our team and Beach Point Capital Management, following a loan in August 2024 to acquire over 1.1 million square feet across Dallas, Houston, and Tampa.
Planned capital improvements across the portfolio include upgrades to parking areas, sidewalks, curbing, entrances, and roofing (as needed), along with exterior caulking, landscaping enhancements, and branding updates.
This acquisition is part of our larger strategy to grow in high-demand, high-density markets. With the support of our Co-GP IV Fund, we were able to strategically secure this portfolio in Florida’s most densely populated county, where strong occupancy rates and market demand continue to drive long-term value.
As we continue expanding our national footprint, acquisitions like this underscore our commitment to identifying prime industrial opportunities and delivering value to our investors, tenants, and partners.
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. Anthony Scavo runs the day-to-day activities of the company, serving as president and managing partner. Together they have over 100 years of combined Real Estate Development and Management experience. Basis currently owns more than 5 million square feet of self-storage and industrial real estate, with an additional 2 million to 3 million square feet expected by the end of the year. 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.
About Beach Point Capital Management
Founded in 2008, Beach Point Capital Management LP (“BPC”) is an $19+ billion AUM, SEC registered investment advisor specializing in credit and credit-related investments. The firm is headquartered in Los Angeles with offices in New York, London, and Dublin, and has 165+ employees. BPC’s dedicated private real estate investment strategy focuses on applying a flexible approach to execute on loan originations, debt purchases, and direct ownership of assets across all property types throughout major U.S. and European markets.