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 Dr. in Armonk, New York. 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.
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. The forthcoming facility is Basis’ first acquisition in Westchester County.
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 event was attended 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.
