South Florida investor buys 18-building portfolio in Pinellas for $60M

A Delray Beach real estate investor has bought an 18-building portfolio in Pinellas County.

Basis Industrial, the buyer, paid $60 million for the properties, which are spread across Largo and Clearwater.

According to a spokesperson for Basis, the 18-buildings are individual structures that are part of several business parks and multi-building assets in the county.

As part of the purchase, the company will renovate the buildings including parking repairs, sidewalks, curbing, entrance repairs, roof maintenance and replacements where needed, exterior caulking, landscaping and branding, according to a statement. 

The building are located at:

• Bryan Dairy. 7201–7281 Bryan Dairy Road, Largo; 102,166 square feet
• Cross Bayou. 11701 S. Belcher Road, Largo; 58,088 square feet
• ICOT IV. 13920–13923 ICOT Blvd., Clearwater; 69,226 square feet
• ICOT Condo. 13830 N. 58th St., Clearwater; 19,163 square feet
• Starkey Center I. 12345 Starkey Road, Largo; 45,165 square feet
• Starkey Center II. 12505 Starkey Road, Largo; 57,487 square feet
• Turtle Creek. 4900–4914 Creekside Drive, in Clearwater; 121,217 square feet

Tenants occupying the spaces include Weatherproofing Technologies; Hoya Optical Labs of America; Camelot Community Care; RAI Care Centers of Florida; Rotech Oxygen and Medical Equipment; Moser Enterprises; Tri-Tronics Company; Risse Brothers School Uniforms; Affordable Solar Roof & Air; 211 Tampa Bay Cares; Beadtin; E2Pack Corp.; National Organization of the New Apostolic Church of North America; Trilogy Innovations; Suda Fit; and Research Development Manufacturing.

With this purchase, Basis says it has doubled its presence in metro Tampa bringing the total amount of space it owns and manages in the market to more than 1 million square feet.

Overall, the firm says it owns and manages more than 5 million square feet of industrial space, with over $1 billion in assets under management.