Tempus Realty Partners Announces New Industrial Development
Tempus Realty Partners has unveiled plans to develop a substantial 150,000-square-foot industrial facility. This exciting new project is set within an optimal area important for industrial development, marking another strategic move for the company in growth markets.
Details of the Acquisition
The company has secured a three-parcel site spanning 19.82 acres. This acquisition demonstrates Tempus's proactive approach towards enhancing its real estate holdings in competitive hubs. The location is a part of an industrial market that is rapidly evolving, making it a prime site for future development.
Focus on Key Growth Markets
Tempus Realty Partners is concentrating on strategically acquiring properties that stand to deliver long-term value. The emphasis on growth regions aligns with its overall strategy, ensuring the best returns for its investors and clients.
Zoning and Development Process
With the acquisition completed, Tempus Realty Partners successfully navigated the zoning and environmental processes, clearing the way for the development of this innovative project. Flexibility in the design of the facility allows it to cater to various tenant needs, whether as a build-to-suit option or a speculative development.
Comments from Leadership
Clay Ramey, partner and vice president of capital markets at Tempus Realty Partners, remarked, "This is a unique opportunity in one of the tightest industrial submarkets in the region. Smaller, more flexible facilities are increasingly appealing to tenants. We are excited to deliver a modern warehouse that will increase efficiency for its users." This enthusiasm underlines the company’s commitment to meeting market demands.
Future Plans and Portfolio Expansion
The expansion of Tempus Realty's portfolio showcases its focus on developing properties that meet the evolving needs of the industrial sector. Future projects will likely follow the same innovative path set by this current development.
About Tempus Realty Partners
Tempus Realty Partners is a real estate investment partnership dedicated to acquiring and developing high-value commercial real estate across essential markets, primarily in the South and Midwest. Since its inception in 2016, the partnership has successfully invested over $1 billion across 25 states, focusing on unique opportunities that offer superior risk-adjusted returns.
Frequently Asked Questions
What is the size of the facility being developed by Tempus Realty Partners?
The new facility will be 150,000 square feet, catering to industrial tenants with high flexibility and modern design.
Where will the new industrial facility be located?
The facility is located within a highly desirable industrial area, specifically in a location that is actively developing and expanding.
What will the facility be used for?
The facility can serve various needs, being designed to accommodate both build-to-suit and speculative industrial uses tailored to modern tenant requirements.
Who is leading the project at Tempus Realty Partners?
Clay Ramey, the partner and vice president of capital markets at Tempus Realty Partners, is leading the charge on this innovative project.
What is Tempus Realty Partners' focus in terms of investments?
The company focuses on strategic acquisitions and developments that provide long-term value, especially in high-demand growth markets.
