Jupiter-based EML Realty Partners has sold a 30,060-square-foot industrial warehouse at 309 Angle Road in Fort Pierce for $4.9 million. The property, situated on 4.2 acres, includes manufacturing and distribution space, 2,784 square feet of office space, 4,522 square feet of climate-controlled workshop space, two 3-ton overhead cranes, thirteen overhead doors, and a large fenced yard for outdoor storage.
Purchased by EML in August 2023 for $2.85 million, the building was renovated after tenant challenges and quickly resold for a strong return.
“This building had its challenges after we bought it. Luckily we bought it at a great below replacement cost basis and were able to monetize it for a solid return in a short period of time,” said Eric Levitt, founder of EML Realty Partners. The tenant had to be evicted only after a few months of owning the asset, and after doing some renovations, we got our highest return by selling to a user.”
EML Realty Partners focuses on opportunistic commercial real estate investments, with a strong emphasis on industrial properties across Florida and a track record of adding value through repositioning and strategic sales.
