EML Realty Partners, headquartered in Jupiter, has announced the acquisition of a Class A industrial and office building located at 821 Jupiter Park Drive in Jupiter Commerce Park. This off-market purchase, valued at over $8.5 million, includes two buildings totaling 35,782 square feet on a 3.25-acre site.

The seller, who is relocating their business, has agreed to a one-year lease at closing, allowing sufficient time for their transition. The existing lease with Parametric Solutions, Inc. involves minimal landlord responsibilities and features a current rental rate that is more than 30% below market value. This situation offers a substantial opportunity to enhance value through a mark-to-market strategy, while maintaining a favorable investment basis.

“EML is very excited to add 821 Jupiter Park Drive to our portfolio,” stated EML Founder and CEO Eric M. Levitt. “This marks the sixth property we have acquired in Jupiter Commerce Park, one of the most sought-after industrial parks in Palm Beach County. The property provides us with numerous options, including re-leasing at market rates, selling the buildings to a user, or redeveloping the site to maximize our returns.”