**Basis Industrial Acquires 18-Building Portfolio in Pinellas County for $60 Million**
Basis Industrial has announced the acquisition of an 18-building portfolio in Pinellas County, Florida, for a purchase price of $60 million. The assets, totaling over 472,000 square feet of office and industrial space, were sold by Birtcher Anderson & Davis (BA&D).
Commercial real estate services firm Colliers represented BA&D in the transaction and had been managing leasing efforts for the portfolio since BA&D’s initial acquisition in 2022. During that time, Colliers increased occupancy from the mid-60% range to nearly 90%. Additionally, the Colliers Debt & Structured Finance team, led by Nathan Lynch and Michael Sogluizzo, assisted the buyer in securing financing to complete the deal.
The largest asset in the portfolio is Turtle Creek, an eight-building industrial park comprising 121,217 square feet. Located on 49th Street North near Ulmerton Road, just outside of St. Petersburg, it marks the centerpiece of the acquisition.
The entire portfolio serves a diverse base of nearly 100 tenants, with unit sizes typically ranging from 5,000 to 7,000 square feet. This configuration offers flexibility for a variety of industrial and office users, providing valuable service to the dynamic Tampa Bay market.
