Basis Pays $85M for Miami-Area Portfolio

Basis Industrial has acquired a 396,135-square-foot industrial portfolio in Hialeah, Fla., a Miami submarket, for $84.8 million. TA Realty sold the 42-building collection.

CBRE worked on behalf of the seller, while the buyer was represented in-house. BankUnited served as lead lender, while Seacoast Bank was the syndicated co-lender providing financing. Additionally, NexPoint Advisors partnered with Basis and provided more than $20 million in preferred equity.

After this acquisition, Basis became one of the largest industrial owners in the Hialeah market.

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At the time of sale, 79 companies occupied space across the 42 buildings, with an average footprint size of 4,280 square feet. The portfolio was 85 percent leased. Basis plans to implement a capital improvement plan across the assets.

The buildings feature a mix of cross-dock and front-load configurations, with dock-high and grade-level loading and clear heights ranging from 14 to 22 feet. The buildings also have five to 12 percent office space.

The portfolio is about 15 miles from downtown Miami and within 12 miles of Miami International Airport. It includes:

• 24 buildings in the west pocket at West 31st, 32nd and 33rd places

• 17 buildings in the east pocket at West Eighth Court, West 27th Street and West 28th Street

• one building at 7395 W. 18th Lane

Basis Industrial President & Manager Anthony Scavo represented the buyer. CBRE Vice Chairman Jose Lobón worked on behalf of the seller.

Investors’ focus on shallow-bay industrial facilities

Demand for small-scale, shallow bay warehouse space continues to climb in dense urban markets, fueled by e-commerce growth and the expansion of small and mid-sized businesses serving nearby communities. Strong rent gains, high occupancy and limited available supply have further elevated investors’ appetite for the subsector.

Suburban areas are experiencing similar momentum—especially across the Sunbelt—where growing population creates renewed demand for small-bay industrial space. Demand in this subsector is expected to increase, supported by tariff policies aimed at reducing international competition.

Last month, Prologis acquired an 11-building industrial collection totaling 940,000 square feet, marking the largest industrial sale in the Bay Area of the year. CalSTRS sold the assets for $314.5 million.