Basis Acquires Industrial Portfolio in Tampa for $33M
This is Basis' first acquisition in Tampa and it plans to keep expanding there.
Basis Industrial purchased an industrial portfolio in Tamp that includes the Brandywine Business Center, Corporex Plaza and the Presidents Plaza Business Center for $33 million. The total acquisition cost was above $35 million, as Basis plans to invest heavily in the property.
The properties, totaling 224,108 square feet on 16.1 acres, are Basis’ first assets in Tampa. Basis now owns and manages more than 2 million square feet of multi-tenant industrial and mixed-use commercial real estate. Basis has been acquiring this asset class since its launch in January 2022.
Anthony Scavo, COO and president of Basis Industrial, represented Basis in the transaction and Marcus & Millichap represented the seller. JLL sourced debt for the transaction.
Current tenants include Joffrey’s Coffee, Acree Air Condition, Pharmscript of Florida, Ademco, Inc., Tri-Ed Distribution, Inspectorate America, Echo UES, Inc., National Flood Expert, IGT Global Solutions, Rauland-Borg Corporation and Sunrun.
Basis plans to expand their footprint in the Tampa area.