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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.”

Margate Seeks Developer For Massive Mixed-Use Project With Plans For Nearly 1MSF Of Office Space

May 27, 2024/in News/by SFOBA STAFF

A fresh call for ideas has been released by Margate’s Community Redevelopment Agency for developers to revitalize up to 51.38 acres of land that is held by the public.

A statement from Colliers and the city states that the 27 non-contiguous lots are designated for 980 residential units, 500 hotel rooms, 1.28 million square feet of retail space, 861,331 square feet of office space, and 309,659 square feet of industrial space.

According to Ken Krasnow, vice chair of institutional investor services for Collier’s Florida area, about 34 acres of that collection are undeveloped. This includes the 17-acre property that was formerly home to the Lake Shore Swap Shop at 1000 N. State Road 7.

Krasnow, along with Colliers brokers Brooke Mosier, Bastian Schauer, and Mark Rubin, are assisting Margate’s CRA with the request for proposals (RFP), which officially went out this week.

The CRA owns two commercial complexes among the plots put up for renovation, he continued, along with “various government facilities” like Margate’s city hall and library.

According to Krasnow, the city wants to create a mixed-use neighborhood with retail, dining, and entertainment options—amenities that are scarce in Margate itself. Proposals to build a new city hall, library, and community center are also welcomed.

In order to do this, the city and CRA are looking to enter into a long-term lease agreement with a developer who can offer a well-thought-out city center that can accommodate locals and tourists while adhering to zoning regulations. This includes an eight-story maximum height.

“They want something that has that kind of urban aesthetic,” Krasnow said. “It has to have a walkable feel to it, a downtown environment.”

Margate is open to proposals for some workforce housing as well, but the city is particularly interested in a developer that will build market-rate rentals or condos.

Developers have until August 13 to submit their proposals. On June 25, Colliers will hold a virtual pre-bid conference.

Source: SFBJ

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Basis Industrial Expands, Purchases New Headquarters In Downtown Delray Beach

Margate Seeks Developer For Massive Mixed-Use Project With Plans For Nearly 1MSF Of Office Space

Basis Industrial Expands, Purchases New Headquarters In Downtown Delray Beach

Margate Seeks Developer For Massive Mixed-Use Project With Plans For Nearly 1MSF Of Office Space

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Basis Industrial Expands, Purchases New Headquarters In Downtown Delray Beach

Margate Seeks Developer For Massive Mixed-Use Project With Plans For Nearly 1MSF Of Office Space

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