Basis Industrial, a privately held and vertically integrated real estate owner and operator based in South Florida, celebrated the groundbreaking of its mixed-use property at 100 Business Park Drive in Armonk, New York on Tuesday, July 16. The project consists of a 60,000 existing square foot mixed-use warehouse and a development site where a 117,000-square-foot mixed-use building will be constructed.
The event was attended by VIPs including Anthony Scavo, president and managing partner at Basis Industrial; Joseph Rende, supervisor of the Town of North Castle; Barbara DiGiacinto, councilwoman of the Town of North Castle; Adam Kaufman, director of planning of the Town of North Castle; Claude Okin, CEO of Sportime; Hannah Dorff, senior manager of third-party relationships at Extra Space Storage; and other local dignitaries and Basis Industrial team members.
Refreshments and light bites were served, and VIP guests spoke before the ceremonial shovels took their first dig into the ground for the commemorative groundbreaking.
Basis Industrial purchased the site in spring 2023 and anticipates opening the new facility, which achieved 100% preconstruction leasing, by Q3 2025. The property will be composed of an Extra Space Storage branded and operated self-storage tenant measuring 82,400 square feet, a Sportime branded and operated pickleball facility measuring 26,550 square feet and a new warehouse facility for the expansion of Jan-Tile, measuring 8,000 square feet. Jan-Tile is the primary existing tenant at the existing 60,000-square-foot warehouse.
On May 31, 2024, Basis Industrial secured a $39.6 million loan for construction, for a new build and for the existing refinance of the mixed-use property.
The forthcoming facility is Basis’ first acquisition in Westchester County. The region’s proximity to major highways and ports made it an ideal location for Basis to invest in.
About Basis Industrial
Basis Industrial is a vertically integrated real estate owner and operator formed by industry veterans and sponsors Jay Massirman, Stephen Garchik and Daniel Weinstein. Basis brought Anthony Scavo on as COO/President to run day-to-day activities of the company. He now serves as managing partner. Together they have over 100 years of combined Real Estate Development and Management experience. Basis currently owns over 4 million square feet of self-storage and industrial real estate and is scheduled to close and/or complete another 2 million square feet in 2024. Active markets for Basis include Florida, Pennsylvania, New Jersey, New York, Texas, Boston, Los Angeles, Alabama and select urban markets nationwide. In total, the sponsors have developed and managed over 15 million square feet of real estate assets including self-storage, industrial, retail, office and residential. BaySpace is the property management arm of Basis. In 2023, Basis Industrial was ranked the No. 1 fastest-growing company by South Florida Business Journal. In 2024, Basis was the winner of Commercial Observer’s Breakthrough Awards in the Industrial Transaction of the Year category. For more information, visit www.basisindustrial.com or www.bayspace.com.
