BaySpace Company Profile

Background

Overview

BaySpace is a property management arm specializing in small-bay industrial and flex spaces, catering to a diverse range of businesses seeking flexible, functional, and affordable industrial environments. Operating primarily in Florida, BaySpace offers spaces ranging from 300 to over 50,000 square feet, accommodating various operational needs.

Mission and Vision

BaySpace's mission is to provide a flexible, clean, and secure environment for businesses to create, expand, store, and thrive. Their vision is to foster a community of tinkerers and thinkers, offering spaces that support a wide array of business activities, from distribution and construction to light manufacturing and retail.

Primary Area of Focus

BaySpace focuses on managing small-bay industrial properties, offering flexible lease terms and customizable spaces to meet the unique needs of small to mid-sized businesses. Their properties are strategically located in high-demand areas, providing businesses with accessible and adaptable spaces.

Industry Significance

In the context of the growing demand for smaller industrial spaces, BaySpace plays a crucial role in bridging the gap for businesses that require compact, efficient environments. Their offerings are particularly significant in markets where larger industrial properties are abundant, but smaller spaces are scarce.

Key Strategic Focus

Core Objectives

Flexibility: Providing spaces that can be tailored to various business needs, from warehousing to light manufacturing.

Affordability: Offering cost-effective solutions to help businesses maintain low overhead while achieving growth.

Community Building: Fostering a collaborative environment where businesses can network and support each other's growth.

Specific Areas of Specialization

BaySpace specializes in small-bay industrial and flex spaces, catering to industries such as e-commerce, logistics, tech startups, retail, trades, service providers, and light manufacturing.

Key Technologies Utilized

BaySpace employs advanced property management technologies to ensure operational efficiency and tenant satisfaction. This includes 24/7 secured access and modern communication tools to facilitate seamless interactions between tenants and management.

Primary Markets Targeted

BaySpace primarily targets small to mid-sized businesses in Florida, with properties in cities such as Medley, Orlando, Winter Springs, St. Petersburg, Tampa, and Melbourne. They also have a presence in Fort Worth, Texas, expanding their reach to other high-demand industrial markets.

Financials and Funding

Funding History

As a property management arm of Basis Industrial, BaySpace's funding is integrated with its parent company's financial activities. Basis Industrial has been recognized for its rapid growth, ranking No. 1 on the South Florida Business Journal’s Fast 50 list in 2023 and No. 4 in 2025.

Total Funds Raised

Specific details regarding the total funds raised by BaySpace are not publicly disclosed.

Notable Investors

BaySpace operates under the umbrella of Basis Industrial, which is backed by industry veterans and sponsors Jay Massirman, Stephen Garchik, and Daniel Weinstein. The company has a combined experience of over 100 years in real estate development and management.

Intended Utilization of Capital

Capital raised is utilized for the acquisition, development, and management of small-bay industrial properties, as well as for enhancing property management services to support tenant success.

Pipeline Development

Key Pipeline Candidates

BaySpace continues to expand its portfolio by acquiring and developing small-bay industrial properties in strategic locations. Recent acquisitions include properties in Deerfield Beach, Florida, and Hialeah, Florida, totaling over 500,000 square feet.

Stages of Development

Properties are typically acquired, renovated, and managed to meet the specific needs of tenants, ensuring high occupancy rates and tenant satisfaction.

Target Conditions

BaySpace targets underperforming or outdated properties that can be repositioned to meet the growing demand for small-bay industrial spaces.

Relevant Timelines for Anticipated Milestones

Specific timelines for future developments are not publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

BaySpace utilizes advanced property management technologies to ensure operational efficiency and tenant satisfaction. This includes 24/7 secured access and modern communication tools to facilitate seamless interactions between tenants and management.

Significant Scientific Methods

BaySpace employs data-driven decision-making processes to identify high-potential properties and optimize space utilization, ensuring that their offerings align with market demands and tenant needs.

Leadership Team

Key Executive Profiles

Jay Massirman: Co-founder and sponsor of Basis Industrial, with extensive experience in real estate development and management.

Stephen Garchik: Co-founder and sponsor of Basis Industrial, bringing a wealth of knowledge in real estate operations.

Daniel Weinstein: Co-founder and sponsor of Basis Industrial, contributing significant expertise in real estate investment strategies.

Anthony Scavo: President and Managing Partner of Basis Industrial, overseeing day-to-day activities with a focus on strategic growth and operational excellence.

Leadership Changes

No recent significant changes or appointments within the leadership team have been publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The demand for small-bay industrial spaces is increasing, driven by the needs of small to mid-sized businesses for flexible and affordable operational environments. However, the availability of such spaces is limited, creating opportunities for providers like BaySpace to meet this market demand.

Competitor Analysis

BaySpace operates in a competitive landscape with other property management firms offering similar small-bay industrial spaces. Key competitors include:

Supply Chain Services International: Provides logistics and warehousing solutions, competing in the same market segment.

Stratosphere Quality: Offers quality assurance and inspection services, overlapping with BaySpace's target industries.

G&D Integrated: Specializes in integrated logistics and supply chain solutions, serving similar clientele.

Strategic Collaborations and Partnerships

BaySpace collaborates with Basis Industrial for property acquisitions and management, leveraging their combined expertise to enhance service offerings and expand market reach.

Operational Insights

Strategic Considerations

BaySpace focuses on acquiring and developing properties in high-demand areas, ensuring that their offerings meet the specific needs of small to mid-sized businesses. Their flexible lease terms and customizable spaces provide a competitive advantage in the market.

Market Position

BaySpace holds a strong position in the small-bay industrial property management sector, with a growing portfolio and a reputation for quality and flexibility.

Competitive Advantages

Flexibility: Ability to tailor spaces to various business needs.

Affordability: Cost-effective solutions for businesses seeking to minimize overhead.

Community Building: Fostering a collaborative environment that supports business growth.

Strategic Opportunities and Future Directions

Strategic Roadmap

BaySpace plans to continue expanding its portfolio by acquiring and developing additional small-bay industrial properties in strategic locations, particularly in high-demand markets. They aim to enhance their property management services to support tenant success and maintain high occupancy rates.

Future Business Directions

Future directions include exploring opportunities in new geographic markets and diversifying their property offerings to meet the evolving needs of businesses.

Opportunities for Expansion

BaySpace has opportunities to expand into other high-demand industrial markets, leveraging their expertise in property management and tenant relations.

Positioning for Future Objectives

By maintaining a focus on flexibility, affordability, and community building, BaySpace is well-positioned to achieve its future objectives and continue its growth trajectory.