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.”