Kentucky

JLL Arranges $6.2M Sale of New Industrial Facility in Northeast Kentucky

by Alex Tostado August 25, 2020

GRAYSON, KY. — JLL has arranged the $6.2 million sale of a new 25,000-square-foot industrial property double-net leased to Flowserve in Grayson. The seller, Houston-based Investment & Development Ventures LLC, delivered the asset as a build-to-suit for the company, which produces engineered and industrial pumps, seals and valves, as well as a range of related flow management services. The facility sits on three acres within EastPark, a 1,000-acre industrial park located approximately 25 miles from the Kentucky-Ohio-West Virginia border. Alex Sharrin, Trent Agnew, Brian Shanfeld, Jason DeWitt and Alex Geanakos of JLL represented the seller in the transaction. B.J. Feller, Isaiah Harf and Andy Gatchell of Stan Johnson Co. represented the buyer, an undisclosed family partnership based in Tulsa, Okla.

August 25, 2020

Development Industrial Kentucky Southeast

Ice Cream Maker Dippin’ Dots Opens $3.2M Industrial Facility in Paducah, Kentucky

by Alex Tostado August 10, 2020

PADUCAH, KY. — Dippin’ Dots, maker of flash-frozen beaded ice cream, has opened a $3.2 million, 6,000-square-foot industrial facility in Paducah. The property houses 45 employees and will support Dippin’ Dots Cryogenics LLC, a division of the company that was launched in 2018 and applies the patented flash-frozen technology to other industries. The building is situated at 3865 Industrial Drive, one mile from Interstate 24.

August 10, 2020

Acquisitions Kentucky Retail Southeast

Colliers Negotiates $4M Sale of CVS-Occupied Property in Paducah, Kentucky

by Alex Tostado August 6, 2020

PADUCAH, KY. — Colliers International has negotiated the $4 million sale of a 10,121-square-foot CVS/pharmacy-occupied property in Paducah. The building was originally developed in 1999 and is located at 3001 Lone Oak Road. There are 19 years remaining on CVS’ 20-year lease extension. Jon Busse of Colliers represented the buyer, Emerald Paducah LLC, in the transaction. The new ownership acquired the asset to partially complete a 1031 exchange. Matt Berres of Newmark Knight Frank (NKF) represented the seller, WEC 99J-32 LLC.

August 6, 2020

Development Industrial Kentucky Southeast Top Stories

Dollar General Plans $65M Distribution Center in Northern Kentucky, Expansion of Cold-Storage Footprint

by Kristin Harlow August 5, 2020

WALTON, KY. — Dollar General (NYSE: DG) has unveiled plans to open a 630,000-square-foot distribution facility in Walton, approximately 20 miles south of Cincinnati and the Ohio border. The $65 million investment is expected to bring 250 jobs to the city and support 800 stores. The Walton facility will serve as Dollar General’s 18th distribution center. Construction is scheduled to begin in September with operations to begin in January. Dollar General has also announced plans to build three additional DG Fresh facilities to support a shift toward self-distribution of products that require cold storage such as dairy, deli meats and frozen products. Construction is scheduled to begin this fall on a 160,000-square-foot cold storage facility in Ardmore, Oklahoma, with completion slated for spring 2021. Similarly, construction is scheduled to begin this fall on a 160,000-square-foot cold storage property in Bowling Green, Kentucky, with completion slated for summer 2021. Dollar General is currently finalizing construction of a 200,000-square-foot cold storage facility in West Sacramento, California, to complement its West Coast distribution operations. The property is scheduled to open this fall. At full capacity, each of the DG Fresh facilities are expected to create approximately 65 new jobs and support roughly 1,500 …

August 5, 2020

Acquisitions Kentucky Multifamily Southeast

Capstone Arranges Sale of 126-Unit Apartment Complex in Paducah, Kentucky

by Alex Tostado July 21, 2020

PADUCAH, KY. — Capstone Apartments Partners has arranged the $3 million sale of Fernwood Homes, a 126-unit apartment complex in Paducah. The property offers two- and three-bedroom floor plans. The asset is situated at 710 Lone Oak Road, three miles southwest of downtown Paducah. New York-based Hillcrest Acquisitions acquired the asset, which was originally built in 1950. Jonathan Hawks, Adam Klenk and Tyler Mayo of Capstone represented the seller, Fernwood Homes LP, which owned the property for more than 30 years.

July 21, 2020

Acquisitions Kentucky Multifamily Southeast

Capstone Arranges $61.4M Sale of Multifamily Portfolio in Metro Louisville, Lexington

by Alex Tostado July 13, 2020

LOUISVILLE, KY. — Capstone Apartment Partners has arranged the $61.4 million sale of a six-property, 1,185-unit multifamily portfolio in Kentucky and southern Indiana. The portfolio’s Kentucky properties comprise Iroquois Gardens, King George Apartments and Victoria Gardens in Louisville and Abigail Gardens in Lexington. The two Indiana properties, King Solomon Apartments in Jeffersonville and King David Apartments in New Albany, are situated across the Ohio River from Louisville. Alex McDermott, Adam Klenk, and Tyler Mayo of Capstone represented the buyer, Nashville-based Clear Blue Co., in the transaction. Nashville-based Elmington Property Management will manage the six properties. Battle Williford and Jon Van Hoozer of Financial Federal Bank originated the $60.2 million acquisition loan on behalf of the buyer. The non-recourse loan features a three-year term with a full interest-only payment period. The seller(s) was not disclosed.

July 13, 2020

Acquisitions Kentucky Self-Storage Southeast

SkyView Advisors Negotiates Sale of 421-Unit Self-Storage Facility on Louisville’s East Side

by John Nelson June 19, 2020

LOUISVILLE, KY. — SkyView Advisors has negotiated the sale of Aladdin Self Storage, a 421-unit facility in Louisville. The property spans 3.5 acres and comprises 46,465 square feet. Aladdin Self Storage is situated at 3413 Collins Lane, 16 miles east of downtown Louisville. Zack Urow or SkyView Advisors represented the undisclosed, private seller in the transaction. The buyer was an undisclosed REIT. The sales price was also not disclosed.

June 19, 2020

Company News Kentucky Restaurant Retail Southeast

Papa John’s Reports May as Best Sales Month in Restaurant History

by Alex Tostado May 27, 2020

LOUISVILLE, KY. — Papa John’s International Inc. has reported its May sales were up 33.5 percent in the U.S. and Canada on a year-over-year basis, marking the second month in a row that the pizza chain recorded its highest sales on record, according to president and CEO Rob Lynch. The May sales period was recorded from April 27 to May 24, and the company said it will continue to provide monthly updates through the end of the second quarter. In April, the Louisville-based chain reported a 26.9 percent increase in sales. The introduction of contactless deliveries has helped spike sales, the company said in a press release. Additionally, Papa John’s reported a 7 percent increase in international sales during May. As of Sept. 29, 2019, Papa John’s had 3,296 locations in the U.S. and Canada and a total of 2,047 stores in 47 other countries.

May 27, 2020

Kentucky Southeast

Kentucky to Begin Reopening Retail in Phases Starting on May 20

by Alex Tostado May 14, 2020

FRANKFORT, KY. — In the midst of the COVID-19 outbreak, Kentucky Gov. Andy Beshear has outlined plans for allowing clothing retailers, manufacturing, construction, houses of worship and funeral services to begin reopening Wednesday, May 20. Government offices and agencies will be allowed to reopen starting Monday, May 18. On May 11, Beshear said there were several parameters that needed to be met in order for the reopenings to occur, including 14 days of decreasing cases, increased testing capacity, availability of personal protective equipment (PPE) and preparedness for a possible future spike. Beginning May 22, restaurants will be able to operate indoor dining at 33 percent capacity and resume outdoor dining. Cosmetology businesses, hair salons and barbershops, massage therapy, nail salons, tanning salons and tattoo parlors will be able to open starting May 25. On June 1, bowling alleys, fitness centers and movie theaters will be permitted to reopen. Beshear urges Kentuckians to be “Healthy at Home” and follow local and federal protocols for limiting the spread of COVID-19. As of 5 p.m. Wednesday, Beshear’s office reported there were 326 deaths and 7,080 confirmed cases of COVID-19 in Kentucky.

May 14, 2020

Acquisitions Kentucky Multifamily Southeast

Four Mile Capital Acquires New Multifamily Community in Louisville for $22M

by Alex Tostado May 13, 2020

LOUISVILLE, KY. — Four Mile Capital has acquired Avalon Springs Apartments, a 141-unit multifamily community in Louisville, for $22 million. The community was built in 2018, spans 18 acres and was 99 percent occupied at the time of sale. The property offers 126 two-bedroom townhomes, as well as 16 two- and three-bedroom apartments that have their own patios. Communal amenities include a fitness center, pool, playground and a clubhouse. Avalon Springs is situated at 7935 Zelma Fields Ave., 17 miles southeast of downtown Louisville. Ed Belz of Newmark Knight Frank originated a Freddie Mac acquisition loan on behalf of the buyer. The 10-year loan features a fixed 3.14 percent interest rate, 65 percent loan-to-value ratio and five years of interest-only payments.

May 13, 2020

Newer Posts

Older Posts