Acquisition of SRS Distribution Center in Wildwood, FL
May 08, 2023
EML Realty Partners, based in Jupiter, FL, today announced the acquisition two industrial buildings, located at 721 Industrial Drive in Wildwood, FL. The main building is an SRS Distribution Center, with the smaller building leased by Patio Inspirations. The more than 65,000 square foot propertys its 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.
For more information, visit https://emlrealtypartners.com.
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 in excess of $600 million and over 2,000,000 square feet of leasable space.
Article by: CityBiz
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