Basis Industrial Expands, Purchases New Headquarters In Downtown Delray Beach

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As a reflection of its continued expansion and growth, Basis Industrial, a privately held and vertically integrated real estate owner and operator, purchased the 2,272-square-foot property at 347 NE 5th Ave in Delray Beach on May 24th for $1.57 million.

This will serve as Basis Industrial’s new headquarters. Basis’ current headquarters is in Boca Raton.

Basis President/COO Anthony Scavo represented the company in the transaction. Scott Pressman of The Keyes Company represented the seller. Banesco is providing financing for the purchase.

This move comes as the company has quickly expanded its presence nationally and needed a larger office space to accommodate its continued growth. Basis currently has 35 employees, up from just three in December 2020. In 2023, Basis Industrial was ranked No. 1 on South Florida Business Journal’s 2023 “Fast 50” list — the 50 fastest-growing private companies in South Florida.

The two-story, freestanding building is nestled just off the bustling Atlantic Avenue in downtown Delray Beach, providing an ideal space for Basis’ corporate headquarters. It includes ample private parking onsite, abundant storage areas, a large kitchen/break area, three bathrooms (one with a shower), impact windows throughout, three A/C systems, a newer roof and newer flooring.

Basis plans to build out the interior office space. With an open, modern concept, Basis also plans to hire a local mural artist to design and install a mural. Renovations will start in three months and are expected to be completed in six months. Basis plans to move into its new headquarters by the end of 2024.

“We are thrilled to continue Basis Industrial’s expansion with the purchase of our new headquarters in downtown Delray Beach,” said Scavo. “It was important to find the right space that would match our current and expected future growth. We are very happy with the convenient location right off Atlantic Avenue in Palm Beach County.”

 

JP Morgan Chase Inks Office Deal In West Palm

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J.P. Morgan Chase is the latest financial player to plant a flag in West Palm Beach.

The banking giant signed a lease at Related Companies’ 360 Rosemary office building, the landlord announced. The square footage was not disclosed.

Situated on seven acres near the intersection of PGA and RCA boulevards, the eight-story office building will feature column-free, 25,000-square-foot floor plates; fine dining restaurant; 7,000 square feet of quick-serve restaurants and retail, fitness center; conference center, rooftop patio and 838 covered garage parking spots along with EV charging stations. PGA Tower’s offices will feature 10-foot, floor-to-ceiling windows with hurricane-resistant glass, full generator back-ups and building top signage.

Source:  Commercial Observer

Miami Law Firm Expands, Establishes New Offices In Broward And Palm Beach

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Haber Law opened a 3,153-square-foot office on the seventh floor of the Plaza 100 building in Fort Lauderdale at 100 N.E. Third Ave. on May 1. Led by senior partners Marnie Dale Ragan and Darrin Gursky, the Fort Lauderdale office includes six attorneys specializing in condo and homeowners association law and litigation plus a paralegal, said David Haber, founder and managing partner of Haber Law.

Haber Law’s Palm Beach County office will open June 3 in the Wells Fargo Center at 4440 PGA Blvd., Suite 201 in Palm Beach Gardens. The Palm Beach Gardens office, which is a sublet space, will be led by Daniel Levin, a partner at Haber Law since early May. Levin was previously a partner at Cole, Scott & Kissane for the past 14 years.

Haber Law’s main headquarters is in a 70-year-old, one-story, 7,662-square-foot building at 251 N.W. 23rd St. in Miami’s Wynwood.

 

Source:  SFBJ

 

Cigna Renews 48,000 SF Office Lease

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Cigna Health & Life Insurance Company has renewed its 47,879-square-foot office lease at Sawgrass Corporate Centre II, located at 1571 Sawgrass Corporate Parkway in Sunrise.

The 64-month renewal comprises two full floors, keeping the 4-story building 98 percent occupied.

Avison Young represented landlords Vanderbilt Office Properties and Barron Colliers in the lease deal.

 

Source:  Commercial Observer

Four Office Buildings In West Broward Sell At $37 Million Loss

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Miramar Centre I, located at 3401 S.W. 160th Ave., Miramar Centre III, located at 3601 S.W. 160th Ave., Huntington Centre I, located at 2901 S.W. 149th Ave., and Huntington Centre II, located at 2801 S.W. 149th Ave., have changed hands.

YMP Real Estate Management acquired the office buildings for $45 million. The seller was MRM Office Owner 1, L.P., a Delaware limited partnership and entity of Starwood Capital Group,

The transaction closed April 22.

Built between 2000 and 2006, the buildings, which total 373,228 square feet, are 79% leased. Tenants include Maersk, Humana, Amcor, and GSA.

 

Source:  SFBJ

Tech Company More Than Doubles Broward HQ

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A technology company recently expanded the size of its headquarters at Dania Beach’s Design Center of the Americas (DCOTA).

According to CEO Fred Bredemeyer, PAVE Mobility, which provides license plate recognition camera systems for parking enforcement agencies, relocated into a 9,700-square-foot office on the second level of 1815 Griffin Road early this year. It had previously resided in a 4,700-square-foot office in the same building.

Nearly 50 of PAVE’s 100 employees will be based in the new Dania Beach office.

 

Source:  SFBJ