EML Realty Partners Announces Sale Of Warehouse At 3904 Selvitz Road In Fort Pierce

EML Realty Partners, based in Jupiter, announced the sale of 3904 Selvitz Road in Fort Pierce for $5,317,500. The 40,000 square foot property originally made up of three warehouses on 3.5 acres, was sold on September 30 to Peakstone Realty Trust, a publicly traded REIT based in El Segundo California.

EML Realty Partners and Greenspring Realty Partners purchased the property together in September of 2023. During the last 2 years they executed their business plan of waiting for the existing tenants lease to end so they could re-position the property into a single building IOS site, creating more outside land storage for the single building.

“We are proud of what we’ve been able to accomplish owning this property alongside Greenspring Realty Partners, a long-time partner of ours,” said Eric Levitt, founder of EML Realty Partners. “Not only were we able to procure a national tenant, Fortiline Waterworks, to a long term market rate lease before selling it, but we were able to sell the property for over $2 million more than our original purchase two years ago.”

EML Realty Partners and Greenspring Realty Partners own several properties together in Florida and have a long history of owning and operating properties together in Maryland where GRP is based.

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 very active and well-respected real estate firm in the Mid-Atlantic region.