The acquisitions total 254,000 square feet.
Newmark Multifamily Capital Markets Executive Managing Director Scott Ramey, Director Brad Downing, Vice Chairman Patrick Dufour, Associate Paul Grant, and Senior Managing Director Ryan Moody represented the seller in the transaction.
In only nine months since its initial launch, Basis has amassed a vast portfolio of existing multi-tenant industrial and self-storage space and development sites – with a focus on Florida and the Sun Belt.
The 1 million-square-foot Class A warehouse facility will cater to the underserved demand for industrial facilities in Volusia County, driven by the robust growth of the space vehicle launch industry along Florida’s Space Coast.
Cushman & Wakefield’s Glen Jaffee represented the seller and procured the buyer for the off-market transaction.
Marcus & Millichap represented the undisclosed seller in the transaction. Flavia Kanyago of CrossMarc will handle leasing at the center.
Situated within an opportunity zone, the project will be built in two phases, the first phase of which will include 300 multifamily units and more than 15,000 square feet of street-level retail space.
The site that will be developed into three Class A buildings totaling 777,200 square feet.
Chip Wooten and Jeff Gray of CBRE represented the sellers, Jim Heistand of Parkway Properties and Mark Walsh and Brett Bossung of Silverpeak, in the transaction.
The transaction marks Castle Lanterra’s second office acquisition in Florida this month.
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