EML Realty Partners Acquires Six-Property Florida Industrial Portfolio

Jupiter-based EML Realty Partners announced the acquisition of a new a six-property, single tenant, Florida industrial portfolio, for $6,550,000.

The portfolio is strategically located across key industrial hubs, totaling 40,606 square feet of RBA and sitting on 6.3 acres.

Five of the six properties are occupied by SRS Distribution, a subsidiary of Home Depot Inc. The sixth property, “Nokomis,” (scheduled to be vacated at closing), will be sold in the first year of the 5-year hold period. The in-place leases have minimal landlord obligations, with rents that are more than 30% below market.

The six properties include:

• 3481 Garber Drive, Tallahassee, FL 32308
• 15430 South US Highway 441, Summerfield, FL 34491
• 1031 Crown Park Circle, Winter Garden, FL 34787
• 8300 Leo Kidd Ave, Port Richey, FL 34668
• 128 Triple Diamond Blvd, Nokomis, FL 34275
• 857 SW Macedo Blvd, Port St. Lucie, FL 34983

“Buying  this industrial portfolio checked all the acquisition criteria boxes for EML Realty Partners, ” said Eric M. Levitt, founder of EML Realty Partners. “Below market rents, way below replacement cost purchase price, great credit tenant, very functional buildings, and located in up and coming areas of Florida. We are thrilled to be adding this group of buildings to the EML portfolio.”

EML Realty Partners specializes in the acquisition of opportunistic commercial real estate investments with a high concentration of industrial properties throughout the state of Florida. Founded by Eric M. Levitt, EML Realty Partners specializes in creating value on these properties after they are acquired.