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Basis Industrial Spends $75M on Two Florida Business Parks
Basis Industrial purchased two commercial properties in Florida. The complex transactions totaled $75 million. They include:
Winter Garden Business Park in Winter Garden, FL
Basis Industrial closed on a 91,727-square-foot property for $24.95 million. Ron Rogg of CBRE represented the seller, Westminster Capital. It sits in the northwest Orange County submarket. Basis plans for future interior renovations, roof maintenance, exterior upgrades, CCTV, and signage.
North Lake Business Park, Altamonte Springs, FL
This 272,000 square foot property sold for $49,592,500. JLL represented the seller, Taurus Investment Holdings. The property is currently at 84% occupancy with a broad tenant portfolio of 37 businesses. Basis plans for future interior renovations and improvements, supply and installation of roll-up door, roof maintenance, exterior upgrades, CCTV, access controls and lighting.
Basis also refinanced its 96,888-square-foot Crystal Pointe property, located in Deerfield Beach, FL, which is 100% leased, and its 253,701-square-foot Gateway and Commerce Point property, located in Orlando, FL, which is 97.6% leased.
- ◦Sale/Acquisition
- ◦Financing
