Tempus Realty Partners pays $78M for multistate industrial portfolio
by November 15, 2023 10:53 am 417 views
Tempus Realty Partners, a Little Rock-based real estate investment partnership, announced details Wednesday (Nov. 15) of an acquisition of four industrial properties for $78 million. The buildings total 1,429,208 square feet and are situated on 209.2 acres. The purchase price equals $54.58 per square foot.
The four sale-leaseback acquisitions are in Aiken, S.C., Clinton, Tenn., Jackson, Tenn. and Slinger, Wis. Tennessee-based The Carlstar Group, a global tire and wheel supplier, occupies all four buildings.
“It’s an absolute privilege to partner with a respected company like The Carlstar Group for their real estate needs,” Dan Andrews, Tempus Realty Partners CEO, said in a news release. “I’m extremely pleased we’re able to fulfill their operational goals while delivering an excellent opportunity for our investors.”
The portfolio contains The Carlstar Group’s owned North American tire and wheel manufacturing locations.
The Carlstar Group portfolio is Tempus’ fifth deal of the year, alongside the development of Westrock Coffee Distribution Center, Portfolio Five, Portfolio Six and Portfolio Seven. The total value of all five projects is $233 million.