Basis Industrial acquired an 18-building in Pinellas County for $60 million. Birtcher Anderson & Davis (BA&D) was the seller. The portfolio amassed over 472,000 square feet of office and industrial buildings.
Colliers represented BA&D in the transaction and also led the leasing efforts since BA&D’s acquisition in 2022. They increased occupancy from mid-60 % to nearly 90%. The Colliers Debt & Structured Finance team of Nathan Lynch & Michael Sogluizzo worked with the buyer to secure financing.
Turtle Creek was the largest development in the portfolio, consisting of 8 buildings, 121,217 square feet in all, on 49th Street North and in proximity to Ulmerton Road, outside St. Petersburg.
With a diverse mix of nearly 100 tenants, the portfolio features unit sizes averaging 5,000 to 7,000 square feet, catering to a broad spectrum of industrial and office users.Â
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