EML Realty Partners Announces Acquisition Of Class A Industrial & Office Building In Jupiter Commerce Park

EML Realty Partners, based in Jupiter, announced the off-market purchase of a Class A  industrial and office building in Jupiter Commerce Park lcoated at 821 Jupiter Park Drive. The property, purchased for over $8.5 million, consists of two buildings totaling 35,782 square feet on 3.25 acres.

The Seller is moving his business and has agreed to enter into a one-year lease at closing, providing ample time for their transition. The in-place lease with Parametric Solutions, Inc. has minimal landlord obligations, and a current rent level that is more than 30% below market. This presents a significant opportunity to add value through a mark-to-market business plan, while maintaining an attractive basis.

 
 

“EML is very excited to add 821 Jupiter Park Drive to our portfolio,” said EML Founder and CEO Eric M. Levitt. “This is the sixth property we have purchased in the Jupiter Commerce Park, which is one of the most desirable industrial parks in all of Palm beach County. The property will give us many options to either re-lease at market rents, sell the buildings to a user, or do some redevelopment to the site in order to maximize our return.”

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. Prior to moving to Florida, EML Realty Partners was a highly active and well-respected real estate firm in the Mid-Atlantic region.