A Little Rock firm is preparing for the end of work from home.
Tempus Tempe LLC recently raised $9 million from investors to buy two office buildings in Tempe, Arizona.
“The Tempe area in the southern Arizona market is really a strong and dynamic market,” said Dan Andrews, CEO of Tempus Realty Partners, a real estate investment firm in Little Rock, which manages the investment.
As life starts returning to pre-COVID times, “the strong markets that have strong dynamics are likely to come back the quickest and strongest,” Andrews told Whispers. “And, so, we felt like the time was right to start getting back into office and thinking that people are going to start favoring that again.”
Tempus bought two single-story office buildings that total 138,000 SF. He said the buildings are largely used for call centers and service centers.
Andrews said it wasn’t difficult to raise the money. The LLC’s filing with the U.S. Securities & Exchange Commission shows it had 48 investors.
“We had a great response from our investor group,” said Andrews, a 2018 Arkansas Business 40 Under 40 honoree. “I think everybody had been waiting for that opportunity, and seeing this one come up, it was a very, very quick process for us.”
He said Tempus has “a number of other deals out there.” But he’s not ready to talk about them just yet. “It’s been a pretty active time for us,” Andrews said.
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