Tempus Realty Partners pays $23.4M for Shutterfly-leased property in Minnesota

by Paul Gatling ([email protected]) 465 views 

Following a busy year in 2021, Little Rock’s Tempus Realty Partners is picking up where it left off.

The real estate investment partnership announced Wednesday (Feb. 23) the acquisition of a 259,000-square-foot office campus at 11000 Viking Drive in Eden Prairie, Minn.

According to a news release, Tempus paid $23.4 for the property. The campus houses operations for Shutterfly, the market leader in photography and personalized products.

“We’re very excited to work with Shutterfly to deliver this solution for their next generation office needs” Dan Andrews, Tempus Realty Partners CEO, said in a statement. “The creativity of the Tempus and Shutterfly teams was key to making this transaction happen.”

This purchase marks the first asset for Tempus in Minnesota. The company has holdings in Michigan, Texas, Ohio, Indiana, Arizona, Colorado, Missouri, Virginia, North Carolina, South Carolina, Tennessee and Arkansas.

Tempus paid $184.8 million in 2021 to acquire 19 buildings throughout the country with a combined 2.18 million square feet.