Jupiter, Florida-based EML Realty Partners announced the acquisition of new properties in fourth quarter 2023, as well as a sale, to close out a successful year for the company.
EML purchased 1450 Treeland Blvd., a 13,745-square-foot assembly building in Palm Bay, Florida for $1.1 million. This property adjoins its 1470 Treeland property and the combined properties have over 50,000 square feet of flex and industrial space on four acres of land in a prime Palm Bay market.
The company also closed on a $2.65 million dollar purchase of a 20,000-square-foot industrial commercial building located at 427 South Market Ave in Fort Pierce, FL.
Additionally, EML Realty Partners completed the sale of 1401 SE Green Village Dr. in Port St. Lucie, an over 4,000-square-foot freestanding commercial strip center for $2.55 million. It was sold to Vision Development. Dunkin Donuts is the anchor tenant in the retail center.
“We are proud, especially given these difficult market conditions, to close out the year on a strong note with this sale and acquisitions,” said Eric M. Levitt, founder of EML Realty Partners. “We are already gearing up for a strong 2024 and look forward to continuing to uncover off market opportunities across the state that enhance our portfolio.”
EML Realty Partners bought and sold over 15 properties in 2023 with a combined value of $60 million.
EML Realty Partners specializes in the acquisition of opportunistic commercial real estate investments with a high concentration of industrial properties throughout the state of Florida. Founded by Eric M. Levitt, EML Realty Partners specializes in creating value on these properties after they are acquired. Prior to moving to Florida, EML Realty Partners was a very active and well-respected real estate firm in the Mid-Atlantic region.
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