Tempus Realty Partners Sell Fully-Leased Ohio Industrial Facility in $7.6M Transaction
Hilliard, OH
LITTLE ROCK, AR (May 24, 2023) – Tempus Realty Partners, an Arkansas-based real estate investment partnership, sold a 114,485 square-foot industrial building on May 12, 2023. DP 149, LLC purchased the Hilliard, Ohio property for $7.6M. It remains fully leased to metal fabricator, S&G Manufacturing.
The investment property, located fewer than 10 minutes from downtown Columbus, features seven dock doors, three overhead doors and a clear height of 20’ – 24’ and was acquired by Tempus in December 2020 for $5.75M.
“This sale marks the completion of another great success for our team in the Columbus metropolitan statistical area,” Dan Andrews, Tempus Realty Partners CEO, said. “It’s a testament to the strength of our team here in Little Rock and our partners in Columbus that we’re able to deliver such an outstanding result in the current economic environment.”
The investment return status surpassed underwriting projections and made it Tempus’ 18th consecutive sales transaction to exceed return expectations.
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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. To date, Tempus has acquired $800,000,000 of property in 24 states over the past six years.