Tempus Realty Partners announces $30.5M acquisition of industrial portfolio in five states
by October 11, 2023 10:34 am 552 views
Tempus Realty Partners, a Little Rock-based real estate investment partnership, announced details Wednesday (Oct. 11) of an acquisition of six industrial sale-leasebacks spanning five states. The fully leased properties total 391,068 square feet and 73.25 acres. The deals closed in September. The properties make up Tempus’ sixth portfolio for $30.5 million.
The industrial buildings are in Springfield, Mo.; Cleveland, Ohio; Hartford, Conn.; Odessa, Texas and New Iberia, La. The tenants include Custom Powder Systems, Corsa Performance, Modern Woodcrafts and Wellbore Integrity Solutions.
“These acquisitions mark a significant step forward for Tempus as we continue to strategically expand our presence in the industrial real estate sector,” Dan Andrews, Tempus Realty Partners CEO, said in a news release. “We believe that these well-located properties offer tremendous potential for growth and long-term value appreciation, further solidifying our commitment to delivering exceptional results for our investors.”
The deal is Tempus’ third this year, alongside the development of Westrock Coffee Distribution Center and a previous portfolio acquisition that included five industrial properties. The total value of all three projects is $133 million.