Basis Industrial Closes On Purchase Of Multi-Tenant Industrial Property
Basis President/COO Anthony Scavo and Head of Acquisitions Ahmad Elayyan represented the company in the off-market transaction.
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Basis President/COO Anthony Scavo and Head of Acquisitions Ahmad Elayyan represented the company in the off-market transaction.
Located at 444 Hermit Smith Rd. on a 79-acre industrial site in the Apopka submarket of Orlando, the project will be developed by developer Trammell Crow Company and include three buildings. The first phase of Apopka Business Center is expected to be completed in 1Q 2025.
The property is 98% occupied.
Patrick Nutt and William Wamble of SRS represented the seller in the transaction.
A three-story building with ground-floor retail will front Plant Street, with the top two floors holding ten apartments.
Pineda Commons will rise on 17.8 acres at 5185 and 5195 N. Wickham Road, just south of the Pineda Causeway.
Brad Peterson, Whitaker Leonhardt and Tommy Isola of Colliers represented the seller, Crosspoint, in a joint venture with Long Wharf Capital.
The property last sold for $17.4 million in 1999.
The 200,000-square-foot park, which is made up of several small bay industrial buildings, is fully occupied.
The two industry professionals bring a combined 65 years of expertise.
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