LITTLE
ROCK, Ark., July 31,
2024 /PRNewswire/ -- Tempus Realty Partners, an
Arkansas-based real estate
investment partnership, announced the sale of a 116,000-square-foot
industrial building on July 26, 2024.
The property, located in Wilmington,
N.C., was purchased by a California limited partnership for
$7.97 million. The building remains
fully leased to Custom Metal Products.
Tempus acquired the sale-leaseback property for $7.2 million in November
2021. The firm held the property for approximately two and a
half years, during which time the investment return exceeded
underwriting projections.
"We are excited to announce the sale of our Wilmington property for $7.97 million, which represents an outstanding
result for our investors," said Dan
Andrews, CEO of Tempus Realty Partners. "This investment is
a perfect example of how Tempus can deliver for investors and
tenants alike."
The Wilmington industrial
property marks the first sale of 2024 for Tempus Realty Partners
and is also the first sale from Tempus Portfolio 3, which now
includes three industrial properties located in St. Joseph, Mo., and Denver, Colo.
ABOUT TEMPUS REALTY PARTNERS
Tempus Realty
Partners is an investor-centric real estate investment partnership
focused on acquiring and developing commercial real estate mainly
in the South and Midwest. The strategy of Tempus is to create
superior risk-adjusted returns via unique commercial real estate
opportunities by investing with its network of partners in targeted
cities. Tempus has acquired more than $1
billion of property in 25 states since forming in 2016.
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SOURCE Tempus Realty