Basis Industrial recently acquired two industrial properties in Texas for a combined price of $81 million. The first property, located on I-30 in Fort Worth, spans 421,721 square feet and was purchased for $57.175 million from Tillar/LanCarte with representation from Newmark. This property is currently occupied by various tenants including ARCO Contractors Supply and Micro Mold.
The second property consists of three buildings – Blue Smoke 2, Blue Smoke Court, and the 2400 Ludelle Building – totaling 161,418 square feet. It was acquired for $24.025 million from PHP with representation again by Newmark. Current tenants at this location include ARCO Contractors Supply and Schaefer Mold.
Basis has plans to make interior renovations as well as improvements to the roof maintenance, exterior upgrades such as CCTV cameras and access controls , lighting enhancements , signage updates ,and marking/striping at both properties . These acquisitions are part of Basis’ ongoing expansion strategy in the Texas market.
