Tempus Realty Partners, an Arkansas-based real estate investment partnership, today announced the purchase of a 148,200-square-foot office building, the first acquisition contributing to the new Tempus Evergreen Fund. Total purchase price was $65 million.
The state-of-the-art office building, located at 4909 W. Magnolia St. in Rogers, is occupied by Transplace, an Uber Freight company that’s headquartered in Frisco, Texas.
Tempus Evergreen is a private Real Estate Investment Trust (REIT) focused on delivering long-term growth and income from high-quality real estate investments.
“This property is an excellent fit for Tempus Evergreen’s objectives of long-term growth and income from top tier assets” Dan Andrews, Tempus Realty Partners CEO, said. “The combination of property, location and tenant quality make this an outstanding centerpiece for Tempus Evergreen.”
Transplace is the largest managed transportation service provider in North America. The Uber Freight company manages more than $10 billion in freight and has centers across the globe that generate a gross revenue of $3 billion from more than 1,000 customers. Transplace will remain a long-term tenant in the high-quality office building.
Tempus Realty Partners is an Arkansas-based 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. The General Partners of Tempus include Dan Andrews, Kevin Huchingson, Mark Saviers and Isaac Smith.
1 Allied Drive Suite 1715 – Little Rock, AR 72202 – 501.340.0457 www.tempusrealty.com