Tempus Realty Partners, a commercial real estate firm based in Little Rock, Arkansas, has made a name for itself by focusing on the heartland, a region often overlooked by coastal real estate giants. Founded in 2016 by Dan Andrews and Isaac Smith, Tempus saw a major breakthrough during the pandemic. While other firms were hesitant to make moves, Tempus seized the opportunity and capitalized on the market downturn by acquiring and selling properties, such as a 230,000 square foot office complex in South Carolina and a 486,000 square foot warehouse in Wisconsin.
With a track record of 106 properties valued at $1 billion, Tempus has thrived in the commercial real estate market since the pandemic. The firm’s private REIT, Tempus Evergreen, has delivered a 15% return, outperforming public and private REIT indexes. One of Tempus’ most significant sale-leaseback deals was the acquisition of three buildings leased to US Farathane in Detroit for $83.5 million. The founder of US Farathane was so impressed with the transaction that he became an investor in Tempus.
Tempus’ success can be attributed to its quick decision-making process, flexibility, and ability to close deals efficiently. The firm’s portfolio consists mainly of industrial properties, including a manufacturing facility for Westrock Coffee in Arkansas and buildings leased back to companies like W.W. Williams. Tempus focuses on properties in middle America, avoiding large cities like Atlanta, New York, and Los Angeles.
The concept for Tempus originated from Dan Andrews’ experiences at Dale Capital Partners, where he was the CEO after the sale of USA Drug. Tempus’ approach involves putting their own money into deals, with each partner contributing 15% of the capital. The firm leverages strong relationships with bankers to secure funding and explore creative approaches, such as the demolition of excess buildings to enhance property value.
While the commercial property market has declined over the past year, Tempus remains optimistic about the future of industrials. The firm believes its focus on mundane industrial properties and under-the-radar approach will allow it to persevere until the market picks up again. Despite challenges in the real estate sector, Tempus continues to seek opportunities for growth and expansion in the heartland and beyond.
