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Basis Spends $81M on Two Texas Business Parks
Basis Industrial closed on two Texas industrial properties for a total of $81 million.
The properties included:
I-30 (Ludelle, Blue Smoke, Tillar), Fort Worth, Texas
Basis closed on the 421,721-square-foot property for $57.175 million. Newmark represented the seller, Tillar/LanCarte. Current tenants include ARCO Contractors Supply, Micro Mold, St. Matthew’s Church, OFCO, Penn-Tex Plastics, King Street Productions, Innovative Environmental Technologies and Liyu Optoelectronic.
Blue Smoke 2, Blue Smoke Court, and 2400 Ludelle Building, Fort Worth, Texas
The 161,418-square-foot property was bought for $24.025 million. Newmark represented the seller, PHP. Current tenants include ARCO Contractors Supply, Schaefer Mold, MSG Distributors, Lone Star Bingo, BELFOR, and Pan American Wire. Basis plans for interior renovations and improvements, roof maintenance, exterior upgrades, CCTV, access controls and lighting, signage, and marking and striping on both properties.
The two Texas transactions were part of a four commercial property deal, including two in Florida, for a total of $160 million.
