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Real Estate Owner & Operator Basis Industrial Closes on $11 Million Construction Loan for Self-Storage Facility on its Property in Melbourne, Florida

By November 17, 2023No Comments

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, closed on an $11 million construction loan on Nov. 14, 2023, for a self-storage facility located at 2560 Aurora Road, Melbourne, FL 32935. Basis Industrial acquired the land on which the storage facility is being built in November 2022.

Berkadia sourced the construction loan from American Momentum Bank. On July, 15, 2023, Basis Industrial broke ground on the 126,741-square-foot, state-of-the-art self-storage facility featuring 955 climate-controlled units, advanced security systems, and other amenities. Construction is expected to be completed in fall 2024. Basis Industrial plans to have a third party, Extra Space Storage, manage the facility upon completion.

Located in a high-earning and high growth area with high rents, this is a prime location and market for a self-storage facility. Basis acquired the development site along with the 250,000-square-foot Space Coast Small Bay Portfolio in November 2022 for $30 million. Anthony Scavo, president of Basis Industrial, represented the buyer, Basis Industrial, in the land transaction. Ken “Wild Man” Hobson represented the seller, James Boozer.

Basis Industrial, which is expanding its portfolio of industrial and commercial properties across the U.S., currently has 15 storage projects at varying stages of completion throughout the U.S.

“We continue to be selective and seek out the best markets to develop self-storage facilities, and Melbourne is a great market that meets our strict criteria. We see a lot of great growth data hidden in the numbers here,” said Scavo. “We had a vision when we purchased the land in 2022, and we’re excited to see it come to fruition.”

About Basis Industrial

Basis Industrial is a vertically integrated real estate owner and operator formed by industry veterans and sponsors Jay Massirman, Stephen Garchik and Daniel Weinstein. Basis brought Anthony Scavo on as President to run day-to-day activities of the company. Together they have over 100 years of combined Real Estate Development and Management experience. It has deep roots in the self-storage and industrial sectors. Basis currently owns over 2.5 million square feet of self-storage and industrial real estate and is scheduled to close another 1 million square feet in 2023. Active markets for Basis include South Florida, Pennsylvania, New Jersey, New York, Texas, Boston, Los Angeles and select urban markets nationwide. In total, the sponsors have developed and managed over 13.5 million square feet of real estate assets including self-storage, industrial, retail, office and residential. BaySpace is the property management arm of Basis. For more information, visit www.basisindustrial.com or www.bayspace.com.

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Five Things That Need to be in Your Resume or Cover Letter

To paraphrase Jerry Maguire, help us help you. As we sift through the paperwork, here’s what we are looking for:

1. What you love to do and why.

In PR, you may love writing, editing, interviewing, pitching the media, researching, coordinating events, networking, posting to social media … whew! While we would love it if you had a passion for it all, we’d never believe you if you said as much.

What part of this zany, crazy, whirlwind, yet meticulous, tedious, detail-oriented, profession calls to you and why? Help us make the connection as to how PR is really for you, and call it your Professional Summary.

2. Something you did that changed something or someone else.

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We are just meeting you. So take a moment to spell out your impact, and it will be easier for us to see what you can do for the clients of Durée & Company. Share this under your Job Responsibilities.

3. Anything you created.

Feeling humble? Well, stop it. This is the part where you brag. If you craft a delightful blog, master a mind-blowing website, shoot crazy video or direct wonderful events, show us.

Then tell us a bit of how you did it, so we trust that it was your brilliance and not the intern’s. Let’s dub this Your Portfolio.

4. An indication of why you belong here.

At PR firm Durée & Company, we have a culture. Really, all companies do. To learn about ours, do some legwork. At this point, if you’re on our blog, you are in the right spot to begin learning. Hate pink? Not good with women? Live in Kansas? Low energy? Then you might want to reconsider applying. However, if we resemble a group that you’d like to hang out with, share why. You can do that in the Cover Letter.

5. Correctly spelled words – all of them.

Do more than hit spell check. Know how to spell or ask someone to proofread. Correctly spelled words work everywhere, all the time. Consider them the Little Black Dresses of resumes.

So consider these five tips – we’ve just given you a “cheat sheet” about what we’re watching out for. Even if our position may not be for you, feel free to use our advice for another – it may just get you the job!