Tempus Realty Partners sells Jonesboro building for $7.85M

Tempus Realty Partners, a Little Rock-based real estate investment partnership, announced details Wednesday (Dec. 13) about the disposition of an industrial property located in Jonesboro for $7.85 million. The sale completes all dispositions in Tempus’ Portfolio 2, totaling $30.2 million.

The Jonesboro property at 2902 Quality Way is 142,206 square feet. It was acquired by Tempus in December of 2020 for $7 million and placed into Portfolio 2, alongside three other industrial properties. The four properties span Arkansas, North Carolina, Virginia and Ohio.

“Our team is proud to have achieved our objectives for Tempus Portfolio 2,” Dan Andrews, Tempus Realty Partners CEO, said. “The returns achieved have exceeded our initial projections, underlining the effectiveness of our investment strategy and the dedication of our team.”

Portfolio 2 is the first Tempus portfolio to sell all properties. Tempus currently holds seven portfolios.

Tempus has acquired $1.03 million of property in 25 states since 2016.