**Basis Industrial Acquires 18-Building Portfolio in Pinellas County for $60M**
Basis Industrial has acquired an 18-building office and industrial portfolio in Pinellas County, Florida, for $60 million. The portfolio, previously owned by Birtcher Anderson & Davis (BA&D), comprises more than 472,000 square feet of commercial space.
Commercial real estate firm Colliers represented BA&D in the transaction and had been handling leasing efforts since BA&D’s acquisition of the portfolio in 2022. During that time, Colliers successfully increased occupancy rates from the mid-60% range to nearly 90%. Colliers’ Debt & Structured Finance team, led by Nathan Lynch and Michael Sogluizzo, also assisted Basis Industrial in securing acquisition financing.
The largest asset in the portfolio is Turtle Creek, which consists of eight buildings totaling 121,217 square feet. Located on 49th Street North near Ulmerton Road, just outside of St. Petersburg, Turtle Creek anchors the portfolio.
Comprised of nearly 100 tenants, the portfolio offers a flexible mix of office and industrial spaces. Unit sizes average between 5,000 and 7,000 square feet, appealing to a wide range of business users.
