Basis Industrial Acquires Industrial Property In Clearwater For $6.75M

An industrial property located at 14605 49th Street in Clearwater has been sold in a transaction valued at $6,750,000. The property spans across 44,562 square feet, resulting in a price per square foot of $151.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $6,750,000
• Address: 14605 49th Street, Clearwater
• Market: Clearwater

The buyer, Basis Industrial, was represented by Dan Weinstein and Anthony Scavo. Hersh Equity Group, represented by Juda Hersh and Corey Schwartz, acted as the seller. The transaction was facilitated by Cody Brais of JLL.

H.E.G., the seller, strategically acquired this small-bay asset 25 months ago for $3.65 million. With approximately $750,000 invested in capital improvements, they achieved a remarkable 51% internal rate of return (IRR) and over a 2X equity multiple for their investors.

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