The 30,060 square foot Industrial warehouse on 4.2 acres offers manufacturing and distribution space, including 2,784 square feet of office space and approximately 4,522 square feet of climate-controlled workshop space.
The portfolio is strategically located across key industrial hubs, totaling 40,606 square feet of RBA and sitting on 6.3 acres.
The industrial warehouse consists of a masonry/tilt-up building totaling 22,408 square feet of RBA and situated on 1.58 acres.
The industrial building, fully leased to Aramark, a Fortune 500 company with over 18 billion dollars in annual revenues, was purchased for $135 per square foot and has a new five year lease.
EML Realty Partners’ 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.
“Both of these properties are a classic value add where current rents are below market, purchase price way below replacement cost, short-term leases and some capital improvements to maximize the increase in value,” added Levitt. “It is very hard to find value add industrial properties in Florida and we are looking forward to rolling up our sleeves to make this a great long-term investment.”
Bill Reichel with Reichel Realty & Investments handled the sale of all three properties for EML Realty Partners, which sold for a combined sales price of approximately $10 million.
Claudia, who has spent most of her life in South Florida, is bi-lingual and has more than ten certificates of training with the Federal Emergency Management Agency.