Basis Industrial Acquires Hoffner Avenue Industrial Asset In Orlando For $19.5M

The 96,810-square-foot Global Business Center located at 5776, 5790 & 5818 Hoffner Avenue in Orlando was acquired by Basis Industrial for $19.5 million on March 22, 2024. The property was sold by Jun Tagami, with Basis Industrial being represented by Ahmad Elayyan & Anthony Scavo of Basis Industrial, and Jun Tagami being represented by Bill Bywater of The Bywater Company, and Nick Hanson & Nick Ledvora of LH Capital Partners.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $19,500,000
• Market: Orlando
• Buyer: Basis Industrial
• Seller: Jun Tagami
• Buyer's Rep: Ahmad Elayyan & Anthony Scavo - Basis Industrial
• Seller's Rep: Bill Bywater - The Bywater Company; Nick Hanson & Nick Ledvora - LH Capital Partners
• Lender: Reinsurance Group of America
• SF: 96,810
• PPSF: $201

Basis Industrial's President/COO, Anthony Scavo, and Head of Acquisitions, Ahmad Elayyan, orchestrated the off-market transaction for the Global Business Center. The deal also involved Reinsurance Group of America providing financing for the acquisition, aligning with Basis Industrial's strategy to enhance its real estate portfolio in the Orlando market.