REBusinessOnline

After Year of Record Industrial Leasing, Investors Zeroing in on Louisville

In 2018, Louisville saw a record year with more than 10 million square feet of net absorption in its industrial sector. This is a huge absorption number for any of the Midwest markets and represents more than three times Louisville’s previous record. Louisville was second only behind Chicago out of the Midwest markets tracked by CBRE. The absorption follows a record year for speculative construction as well, as close to 4 million square feet was delivered in 2018. User demand came from all …

Brookview Realty Purchases Apartment Complex in Louisville for $38M

LOUISVILLE, KY. — Brookview Realty Group has purchased Echelon at Middletown, a 210-unit, garden-style apartment complex in Louisville’s Middletown neighborhood, for $38 million. The property offers one-, two- and three-bedroom floor plans averaging 1,080 square feet. Community amenities include a swimming pool, spa, 24-hour fitness center with a yoga studio, pet park, internet café and a business center. The community is located at 400 Echelon Way, 17 miles east of downtown Louisville. …

HVAC Manufacturer to Invest $50M in New Louisville Plant, Add 400 Jobs

LOUISVILLE, KY. — Kentuckiana Curb Co. Inc., which makes HVAC products and does business as KCC Manufacturing, plans to develop a 300,000-square-foot, $50 million facility in Louisville that will house corporate offices and manufacturing space. KCC acquired 20 undeveloped acres at 2706 Blankenbaker Road for the project, which is 14 miles east of downtown Louisville. The Kentucky Economic Development Finance Authority (KEDFA) will provide KCC with $6.5 million of tax incentives if the company …

Churchill Downs Plans $300M Expansion, Including New Hotel and More Seating

LOUISVILLE, KY. — Churchill Downs Inc. will invest $300 million to add 5,500 reserved seats, a 156-room hotel and 900 historical racing machines at Churchill Downs, home of the annual Kentucky Derby horse race in Louisville. A historical racing machine is an electronic gambling system that allows players to bet on horse races or dog races that have already been run. The seven-story hotel will include 900 historical racing machines, a 27,000-square-foot ballroom, dining room overlooking the …

Dual-Branded Hotel Distil, Moxy Opens on Louisville’s Whiskey Row

LOUISVILLE, KY. — A 12-story, dual-branded Hotel Distil and Moxy has opened on Louisville’s historic Whiskey Row. Poe Cos., White Lodging and REI Real Estate Services jointly developed the 315-room project. Louisville Business First reports project costs of roughly $100 million. The 205-room Hotel Distil is part of Marriott’s Autograph Collection Hotels, a portfolio of independent and upscale hotels comprising more than 180 properties. Many of Hotel Distil’s design cues are taken …

IDI Logistics Sells 442,304 SF Industrial Building in Metro Cincinnati

BOONE COUNTY, KY. — IDI Logistics has sold Building I within its Park South at Richwood Industrial Park. Building I spans 442,304 square feet. The undisclosed buyer plans to open a package sorting center at the location. Park South offers seven buildings, totaling nearly 5 million square feet. The property is located along Interstate 75/71, about 20 miles from downtown Cincinnati. Jeremy Kraus of CBRE represented the buyer in the transaction. Mike Lowe, also of CBRE, represented IDI

Cushman & Wakefield, Affiliate Firm Broker $10.9M Sale of Office Building in Louisville

LOUISVILLE, KY. — Cushman & Wakefield and Cushman & Wakefield | Commercial Kentucky have brokered the $10.9 million sale of Paragon Place, a three-story, 83,153-square-foot office building in Louisville. Paragon Place is situated at 9100 Shelbyville Road, 12 miles east of downtown Louisville. Amenities at the property include a conference center, courtyard with a fountain and tenant storage space. Craig Collins of Cushman & Wakefield | Commercial Kentucky and Samir Idris and Andy …

Marcus & Millichap Negotiates Sale of 452-Unit Self-Storage Facility in Glasgow, Kentucky

GLASGOW, KY. — Marcus & Millichap has negotiated the sale of Glasgow Self Storage, a 66,075-square-foot, 452-unit self-storage facility in Glasgow. The facility was built in 2010 at 908 Happy Valley Road. Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer in the transaction. The buyer and seller were both undisclosed limited liability companies. Colby Haugness of Marcus & Millichap, the broker of record, assisted the team in the …

Thrash Group Opens 120-Room Hotel Within Summit at Fritz Farm in Lexington

LEXINGTON, KY. — The Thrash Group has opened Origin Lexington, a 120-room, 76,000-square-foot hotel situated within The Summit at Fritz Farm in Lexington. Origin Lexington includes 2,100 square feet of meeting space as well as 33 Staves, a restaurant named after the number of wooden stave pieces needed to form a full-sized oak barrel used to age bourbon. Amenities at the hotel include a fitness center, in-room yoga kits and in-room tents and sleeping bags. Birmingham, Ala.-based Bayer …

Hendon, Harbert Complete $30.3M Disposition of Shopping Center in Louisville

LOUISVILLE, KY. — A joint venture between Hendon Properties and Harbert United States Real Estate Fund VI LP (HUSREF VI) has sold Westport Village, a 169,515-square-foot shopping center in Louisville, for $30.3 million. Westport Village is situated at 1315 Herr Lane, 10 miles east of downtown Louisville. Since acquiring the site in May 2016, Hendon Properties has signed 13 new leases totaling 56,000 square feet and renewed 32 leases totaling 102,000 square feet. Birmingham, Ala.-based Wicker …

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