Acquisition of Two Central FL Industrial Assets
July 19, 2023
Jupiter, Florida-based EML Realty Partners announced the acquisition of two properties in partnership with Greenspring Realty Partners, a real estate investment, development, brokerage, and management company based in Baltimore, MD.
The first property, located at 209-211 S. Alexander St. in Plant City, FL, was purchased for $4.6 million. The property consists of two buildings totaling 60,491 square feet, and is fully leased to national credit-tenant, 84 Lumber.
The second acquired property, an industrial facility located at 5582 Commercial Blvd. in Winter Haven, FL, was purchased for $2,850,000. It consists of one building on two parcels totaling 31,389 square feet, and is fully leased to a local freight logistics firm, serving central Florida building suppliers and Amazon.
Eric Levitt, founder of EML Realty Partners, Dan Flamholtz and David Berg, Principals of Greenspring Realty Partners, worked together as partners in Maryland before Eric moved full-time to Florida in 2016.
“Dan Flamholtz and David Berg of Greenspring Realty Partners were my trusted partners for many years in Maryland before I moved my company full time to Florida and it is exciting to get to work with them again. These two purchases fit our model of below replacement cost purchase price, below market rents, functional warehouses, and long-term value-add through organic rent growth in areas of high distribution demand.” said Levitt, founder of EML Realty Partners. “These acquisitions are the first deals we’ve done together in Florida and I am looking forward to continuing this partnership due to the vast experience we share and our combined capital for value-add industrial deals all over the state of Florida.”
EML Realty Partners specializes in the acquisition of opportunistic commercial real estate investments, specializing in value-add industrial all over the state of Florida. Prior to moving to Florida, EML Realty Partners was a very active and well-respected real estate firm in the Mid-Atlantic region.
Article By: Central Florida Commercial Real Estate News
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