Basis pays $85M for value-add Hialeah industrial portfolio

Basis Industrial expanded its South Florida footprint with an $84.7 million purchase of a small bay warehouse portfolio in Hialeah from TA Realty. The deal cements Delray Beach-based Basis Industrial, led by Anthony Scavo, Steve Garchik and Jay Massirman, as one of the largest warehouse landlords in Hialeah, according to a news release. Affiliates of Boston-based TA Realty, led by James Buckingham, sold 42 buildings spanning 396,135 square feet to Basis Industrial. The deal breaks down to $213 a square foot.  Scavo represented Basis Industrial, and CBRE’s Jose Lobón represented TA Realty. Basis Industrial partner NexPoint Advisors contributed more than […]This article originally appeared on The Real Deal. Click here to read the full story.