LITTLE ROCK, Ark. (July 31, 2024) – 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 and is also the first sale from Tempus Portfolio 3, which now includes three industrial properties located in St. Joseph, Mo., and Denver, Colo.
