Tempus Realty Partners Announces $30 Million Property Sale
Tempus Realty Partners, a Little Rock-based real estate investment partnership, announced the sale of Gaffney Distribution Center, a 546,000-square-foot distribution center in Gaffney, S.C.
Gaffney Distribution Center was built in 1996 and is located 50 miles outside of Charlotte on a 77-acre site at 34 Commerce Drive. The distribution center was purchased in March 2017 for $14 million by Tempus Gaffney, LLC. Colliers Arkansas in conjunction with Colliers offices in Charlotte and Greenville represented Tempus on the acquisition and sale of the property.
Tempus Realty Partners and members of the local Colliers team managed an extensive renovation process over the last two years that included a refurbished interior area, warehouse lighting, new roof, state of the art sprinklers, and dock doors.
Dan Andrews, managing partner for Tempus Realty Partners, said, “We’re thrilled to have had the opportunity to partner with Colliers offices in Little Rock; Charlotte, N.C.; and Greenville, S.C. while owning this asset. We’re very pleased that our combined efforts have achieved outstanding results for our investors.”