EML Realty Partners, based in Jupiter, announced the acquisition of two industrial buildings located at 721 Industrial Drive in Wildwood.
The main building is an SRS Distribution Center, with the smaller building leased by Patio Inspirations. The more than 65,000 square foot property sits on about 6 acres and was purchased for $5.7 million.
“EML Realty Partners remains extremely bullish on expanding into different areas of Florida to do bigger industrial deals,” said Eric M. Levitt, founder of EML Realty Partners. “We are excited about the purchase of this property in an up-and-coming area of Central Florida with a great credit tenant. The purchase was well below replacement cost and well below market rent, too. ”
EML Realty Partners specializes in the acquisition of opportunistic commercial real estate investments, with a diverse portfolio of industrial, flex, office, retail, and entertainment properties. 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.
Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.