Acquisitions & Sales of New Properties, Q4 2022
November 30, 2022
Based in Jupiter (Florida), EML Realty Partners announced the sale and acquisition of several new properties in 4th quarter 2022. EML completed its purchase of 820 Indiantown Rd., a 6,250 square foot mixed-use office retail property in the heart of Jupiter, FL, for approximately $2 million. The company also purchased 2720 Center Place in Melbourne, FL, a 11,320 square foot single tenant industrial property that is home to Florida Water Projects, for $1,480,000.
EML also bought Three Palms Office Center located at 2141 S. Alternate A1A, Suite 440, in Jupiter, FL, where EML will be moving its corporate headquarters around the first of the year.
Additionally, EML Realty Partners completed the sale of two properties in Jupiter, FL – 100 Toney Penna Dr. and 124 Toney Penna Dr. – buildings adjacent to Jupiter Medical Center. The 10,000 square feet of industrial property was sold for $5 million, equating to $500 per square foot. Jupiter Medical Center is the leading destination for world-class health care in Palm Beach County and the Treasure Coast region.
“The sale of 100 and 124 Toney Penna was a win-win for everyone involved,” said Eric M. Levitt, founder of EML Realty Partners. “It was important for Jupiter Medical Center to own these properties as part of their hospital expansion, and we are glad that EML was able to play a role in making this sale work for the good of the entire community.”
The company also completed the recent sale of 19663 Riverside Dr. in Jupiter, FL. As part of the transaction, EML completed a demolition and site development of the one-acre waterfront residential property on the Loxahatchee River before selling it to a local custom builder.
“We are proud, especially given these difficult market conditions, that we have remained so busy doing transactions in the fourth quarter. 2022 is shaping up to be a great year for EML Realty Partners, as we are expecting to close on two more properties, including a high-tech flex building in Palm Bay, and an industrial property in Jupiter, FL by year end. We are seeing opportunities now on smaller well-located properties where sellers are feeling signs of the slowing economy, and we will continue to uncover off market opportunities during these challenging times,” Levitt added.
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.
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 30 properties with a value of approximately $500 million.
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