Basis Industrial, a privately held and vertically integrated real estate owner and operator headquartered in Delray Beach, Fla., has closed on a new industrial portfolio in the Dallas-Fort Worth area, adding 519,476 square feet to its holdings. The all-cash transaction closed on May 1, 2025.
The acquisition includes Arapaho 1–9 and Westwood, a series of infill industrial properties located in Richardson, Texas. This marks Basis Industrial’s first investment in the Richardson submarket and brings the company’s total DFW presence to more than 2 million square feet.
“This was a long-term target for us,” said Basis President and Managing Partner Anthony Scavo. “We’ve been focused on growing our presence in the DFW region, and Richardson checked all the boxes — strong fundamentals, limited supply and solid long-term upside. It’s also the ideal location for us to open our first on-the-ground management office in Texas. We are bringing leasing in-house for these assets and are excited to hit the ground running.”
The new regional office will be located at Arapaho 7 and will serve as the central hub for Basis’ Texas operations under its property management arm, BaySpace.
Basis now owns and manages more than 5 million square feet of industrial and over 1.5 million square feet of self-storage space nationwide, with a projected pipeline of 2 million to 3 million additional square feet expected to close by year-end.
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. Anthony Scavo runs the day-to-day activities of the company, serving as president and managing partner. Together they have over 100 years of combined Real Estate Development and Management experience. Basis currently owns more than 5 million square feet of self-storage and industrial real estate, with an additional 2 million to 3 million square feet expected by the end of the year. Active markets for Basis include Florida, Pennsylvania, New Jersey, New York, Texas, Boston, Los Angeles, Alabama and select urban markets nationwide. In total, the sponsors have developed and managed over 15 million square feet of real estate assets including self-storage, industrial, retail, office and residential. BaySpace is the property management arm of Basis. In 2023, Basis Industrial was ranked the No. 1 fastest-growing company by South Florida Business Journal. In 2024, Basis was the winner of Commercial Observer’s Breakthrough Awards in the Industrial Transaction of the Year category. For more information, visit www.basisindustrial.com or www.bayspace.com.
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