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Anthony Scavo & Dan Weinstein Of Basis Industrial Acquire 271,988 SF Industrial Property In Altamonte Springs For $49.6M

Property Image
SOLD
$49,592,500
Anthony Scavo
Dan Weinstein
+ 1

Florida

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Industrial543,976 SF
Sold 11/30/2023
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Property Image
SOLD

Anthony Scavo & Dan Weinstein Of Basis Industrial Acquire 271,988 SF Industrial Property In Altamonte Springs For $49.6M

Industrial543,976 SF
Sold 11/30/2023
Anthony Scavo
Dan Weinstein
+ 1
Contact now

Summary

Asset Type:Industrial
Price Per Square Foot:$91
Total Square Footage:543,976 SF
Transaction Type:Sale

Taurus Holdings has sold an industrial property located at 370-774 Northlake Boulevard in Altamonte Springs, FL. The sale was completed on November 30, 2023, with a total transaction value of $49,592,500. The property spans 271,988 square feet, resulting in a price per square foot of $182.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $49,592,500
  • Address: 370-774 Northlake Boulevard, Altamonte Springs, FL
  • Market: Altamonte Springs, FL

The buyer of the property is Anthony Scavo and Dan Weinstein, representing Basis Industrial. On the other hand, Taurus Holdings acted as the seller. The deal was facilitated by brokers Robbie McEwan and Cody Brias from JLL.

It's worth noting that Basis Industrial, a privately held real estate owner and operator based in Boca Raton, Florida, closed on and purchased four commercial properties in Florida and Texas on November 30, 2023. In addition to the acquisitions, they also refinanced two of their existing commercial properties in Florida as part of the $220 million transaction, consolidating a portfolio of six properties under their ownership.

Players

Robbie McEwan
16 deals$864.8M volume
BROKER

Cody Brias
JLL
3 deals$86.4M volume(786) 532-2348
BROKER

Basis Industrial
BROKERAGE

Anthony Scavo
Basis Industrial
44 deals$1.3B volume
BUYER

Dan Weinstein
Basis Industrial
13 deals$231.2M volume
BUYER

Details

SOLD
IMAGE: Robbie McEwan, Anthony Scavo, Dan Weinstein & Cody Brias DATE: 11/30/2023 ADDRESS: 370-774 Northlake Boulevard MARKET: Altamonte Springs, FL ASSET TYPE: Industrial BUYER: Anthony Scavo (@AnthonyScavoJr) & Dan Weinstein - Basis Industrial (@BasisIndustrial) SELLER: Taurus Holdings BROKERS: Robbie McEwan & Cody Brias (@Cody_Brais) - JLL (@JLL) SALE PRICE: $49,592,500 SF: 271,988 ~ PPSF: $182 NOTE FROM BUYER: Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, closed on/purchased four commercial properties in Florida and Texas, as well as refinanced two of its current commercial properties in Florida on Nov. 30, 2023. Totaling $220 million, the transaction encompasses all six properties under one portfolio.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$176,191.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$235,093.75
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