Basis Industrial Closes On/Purchases Hialeah Small Bay Industrial Portfolio Totaling 396,135 Square

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Florida, has closed on a small bay industrial portfolio in Hialeah, Florida for $84.75 million on Dec. 10, 2025. The portfolio includes 42 buildings encompassing 396,135 square feet.

Having further expanded its small bay industrial portfolio in South Florida over the past several years, Basis had been pursuing opportunities in Hialeah and other target areas in South Florida. The purchase of this portfolio makes Basis one of the largest landlords in the Hialeah market. The portfolio is currently 85 percent leased, in an area where the market occupancy is typically above 95 percent. 

Anthony Scavo, president and managing partner of Basis Industrial, represented the buyer in the purchase, while Jose Lobón of CBRE Group, Inc. represented the seller, TA Realty. BankUnited served as lead lender, with Seacoast Bank as the syndicated co-lender providing financing for the acquisition. NexPoint Advisors, a longtime institutional partner of Basis, partnered with the company with a contribution of over $20 million in preferred equity. 

The portfolio includes:

• 24 buildings, totaling 282,900 square feet, in the west pocket at West 31st Place, West 32nd Place and West 33rd Place, Hialeah, Florida, 33012
• 17 buildings, totaling 93,116 square feet, in the east pocket at West 8th Court, West 27th Street, and W 28th Street, Hialeah, Florida, 33010
• One 20,119-square-foot building at 7395 West 18th Lane, Hialeah, Florida 33014

The buildings feature a mix of cross-dock and front-load configurations with dock-high and grade-level loading, 14-foot to 22-foot clear heights, five to 12 percent office finish, and 79 tenants with an average tenant size of approximately 4,280 square feet. Situated in the heart of Hialeah, the portfolio is positioned to support the thriving small tenant businesses in the immediate area. The portfolio is comprised of tenants in industries related to home design and improvement as well as many other small-family owned businesses. Basis has a comprehensive capital improvement plan and a branding budget in place for the portfolio, that it plans to implement immediately.

"We are pleased to acquire this portfolio, which greatly increases our footprint in the Miami-Dade market, as we have been actively trying to expand in South Florida," said Scavo. "Smaller properties remain best positioned to weather the sector’s challenged operating backdrop. We believe there are only a few truly urban metropolitan statistical areas that better exemplify this trend than Miami-Dade, which is one of the most attractive industrial markets in the U.S."