Basis Industrial Acquires $36.5M Orlando Property
Real estate owner and operator picks up 196,000-plus square feet of multi-tenant industrial flex space
Basis Industrial capped off its inaugural year with the $36.5 million purchase of a mixed-use asset in the Orlando market. The newly acquired asset totals 196,000 square feet, with major tenants including Frontier Airlines, FedEx, Johnson Controls and The National Kidney Foundation.
The property was formally known as Orlando International Business Center. The acquisition closed on December 19th.
At year-end, Basis now owns and manages more than 1.25 million square feet of multi-tenant industrial and mixed-use commercial real estate. Basis has been acquiring this asset class since its launch in March 2022.
Since launching earlier this year, Basis has assembled a portfolio of existing multi-tenant industrial and self-storage space and development sites – with a focus on Florida and the Sun Belt.
Other recent Basis acquisitions include:
- The Gateway and Commerce Business Park consisting of nine buildings totaling more than 250,000 square feet in Orlando, FL.
- The Space Coast portfolio purchase of seven distinct properties across Melbourne and Cocoa, Florida. The 25 buildings total more than 275,000 square feet. Basis has the ability to add an additional 15,000 square feet, bringing the total to more than 290,000 square feet
- The former Belle Avenue Commerce Center in Orlando, now called BaySpace Belle, a small-bay industrial park that Basis is expanding with an additional 7,500 square feet to bring the total size to 193,000 square feet
- A 70,000-square-foot, multi-tenant industrial building in St. Petersburg now called BaySpace St. Pete
- The former Megacenter Palmetto, a 180,000-square-foot mixed-use building comprised of self-storage, small-bay industrial and coworking suites, in Miami. The building is now branded as BaySpace Medley
- An additional 33,000-square-foot small-bay industrial building in Orlando, now called BaySpace OWG
Basis uses its subsidiary management company, BaySpace, to manage the company’s industrial assets. BaySpace now has over 20 employees and manages all 1.25 million square feet Basis has acquired.