SHEPHERDSVILLE, KY. — Browning Investments has broken ground on a 721,050-square-foot spec industrial facility situated within Velocity 65 Trade Center in Shepherdsville, roughly 20 miles south of Louisville and near the UPS Worldport. The industrial park will ultimately accommodate 4 million square feet on 300 acres and feature interchanges with Interstate 65. Browning Investments plans to deliver the spec facility in August. The developer has selected Phil Charmoli of Cushman & Wakefield |..
LOUISVILLE, KY. — Baceline Investments has purchased Shoppes at Forest Green, a 48,716-square-foot shopping center located at 10001 Forest Green Blvd. in Louisville. A private investor sold the asset to Baceline for $7 million. The property was 84 percent leased at the time of sale to tenants such as Metro PCS, Nails on K, Four Season Barber Shop, ShowMe Crossfit, A Better Pizza, Mike’s Grill & Tap and Computer Depot.
FORT MITCHELL, KY. — NorthMarq Capital has arranged the $4.1 million refinancing for Chamber Office Park, a 67,552-square-foot office park located at 2101-2181 and 2500 Chamber Center Drive in Fort Mitchell, a Kentucky city located about six miles south of Cincinnati. Susan Branscome of NorthMarq’s Cincinnati office arranged the fully amortizing, 10-year loan through an undisclosed life insurance company.
INDEPENDENCE, KY. — The Kroger Co. has acquired Park 536, a 674,500-square-foot industrial property located at 251 Mt. Zion Road in Independence, a town in Kentucky roughly 13 miles south of Kroger’s hometown of Cincinnati. Kroger purchased the asset, which was built on a speculative basis, from VanTrust Real Estate for $33.8 million. Built in late 2016, Park 536 is situated on 45 acres and features 36-foot clear heights, 68 docks and 336 parking spaces. John Gartner III and Norm Khoury of..
PAINTSVILLE, KY. — Louisville, Ky.- based Dahlem and partner Berkeley Capital Advisors have brokered the $30.3 million sale of Mayo Plaza, a 600,000-square-foot shopping center in Paintsville. The property’s tenant roster includes Lowe’s Home Improvement, Food City, Dollar Tree, Shoe Show and Big Sandy Superstore. Dahlem and Berkeley Capital represented the seller, the Homer & Mary Short Estate, in the transaction.
MISSISSSAUGA, ONTARIO — R&R Real Estate Investment Trust (R&R REIT) has agreed to acquire a portfolio of nine extended stay hotels in the Southeast and Midwest totaling 1,020 rooms for an aggregate purchase price of $35 million. The properties are currently owned and operated by entities controlled by R&R REIT’s Majid Mangalji and Michael Klingher. Five of the hotels operate under the HomeTowne Studios brand, and the remaining four operate under the HomeTowne Suites brand. The properties..
LOUISVILLE, KY. — In-Rel Properties has acquired Meidinger Tower, a 26-story, 331,172-square-foot office tower located at 462 S. 4th St. in downtown Louisville. In-Rel purchased the asset from New York City-based Torchlight Investors for $32 million. Ralph Smalley and John Merrill of HFF, along with Mark Wardlaw and Lenisa Alvey of NAI Fortis Group, represented Torchlight in the sale. Renovated in 2006, Meidinger Tower was 97 percent leased at the time of sale to tenants such as..
LOUISVILLE, KY. — PRG | Commercial Property Advisors has brokered the $5.8 million sale of First Trust Centre, a seven-story office building located at 200 S. 5th St. in downtown Louisville. The 156,600-square-foot building is currently 72 percent leased. Tyler Smith of PRG represented the buyer, Miami-based Market Street Real Estate Partners, in the transaction. Smith has also been retained by Market Street to lease the property, which is the buyer’s first acquisition in the Louisville..
LOUISVILLE, KY., AND LITHONIA, GA. — The Scharf Group and Besyata Investment Group have acquired a two-property multifamily portfolio in the Southeast for $74 million. The portfolio boasts a total of 1,033 units. Properties included in the portfolio include the 689-unit Park at Hurstbourne in Louisville and the 344-unit Woodcrest Village in Lithonia. Park at Hurstbourne is a garden-style apartment complex situated on 44 acres at 5555 Big Ben Drive. It was built in 1972. Community..
CINCINNATI — Cincinnati-based Phillips Edison & Co. has sold five shopping centers totaling 583,000 square feet to Albanese Cormier Holdings for an undisclosed price. The portfolio includes Quincy Plaza, a 141,816-square-foot, Hobby Lobby-anchored shopping center located in Ottumwa, Iowa; Kokomo Plaza, an 89,414-square-foot shopping center anchored by Ollie’s Bargain Outlet and Vendor City Antiques in Kokomo, Ind.; Catawba Village, a 59,463-square-foot, Goodwill-anchored shopping center..