Acquisition of Main Street Corporate Center in Palm Bay, Florida

March 02, 2022

Based in Jupiter, FL, EML Realty Partners, along with joint venture partner, The Becker Organization of Montclair, NJ, today announced the acquisition of Main Street Corporate Center, located at 1700-1720 Main St. NE, in Palm Bay, FL. The property, consisting of three warehouse buildings totaling nearly 130,000 square feet, was purchased for $12.5 million.

L3Harris, aerospace and defense technology innovator, is currently the lead tenant with a long-term lease in the largest warehouse. The property is adjacent to EML Realty Partner/The Becker Organization’s previously purchased Kirby Corporate Center, which is fully leased to UPS. Both properties total 230,000 square feet of industrial space on approximately 15 acres of land.

“EML & TBO are proud to have closed on such a highly sought-after property that also conveniently adjoins our Kirby Corporate Center property that we purchased last year,” said Eric Levitt, founder of EML Realty Partners. “We are continuing to scale our portfolio on the east coast of Florida with The Becker Organization, as we continue to uncover valuable opportunities in this hot commercial real estate market.”

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.

About EML Realty Partners

EML Realty Partners, LLC is a commercial real estate investment firm specializing in the acquisition of opportunistic commercial real estate investments. EML also selectively invests in commercial real estate partnerships by providing capital to projects in the form of debt and equity. The EML portfolio is a diverse mix of industrial, flex, office, retail, and entertainment properties providing above market returns for their partners. EML specializes in creating the value needed on properties after the initial acquisition. The EML portfolio has a high concentration of industrial properties on the east coast of South Florida, where the company is now based. The South Florida portfolio consists of more than 25 properties with a value of approximately $400 million. For more information, visit emlrealtypartners.com.

About The Becker Organization

Established in 2000, The Becker Organization is skilled in acquiring, developing, leasing, managing, and financing real estate investment and development properties. As part of the overall business strategy, The Becker Organization invests with a long-term mentality and has been successful over time in building a balanced and well diversified portfolio of properties including residential, office, retail, parking garage, storage facility, and land development properties. For more information, visit www.thebeckerorg.com.

 

Article by citybiz
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