Basis Industrial Celebrated Groundbreaking of its Mixed-Use Property in Armonk, New York
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.
For more information, visit www.basisindustrial.com or www.bayspace.com.
