Dermody Properties Signs Healthcare Manufacturer to 208,320 SF Industrial Lease in Louisville

LOUISVILLE, KY. — Reno, Nev.-based Dermody Properties has signed a lease for a 208,320-square-foot space in LogistiCenterSM at Louisville Airport Building 3. Leasing the space is Fisher & Paykel Healthcare, a designer, manufacturer and marketer of products and systems for use in acute and chronic respiratory care, surgery and the treatment of obstructive sleep apnea. Kevin Grove of CBRE represented Fisher & Paykel Healthcare in the lease transaction, and Tom Sims of CBRE represented …

Kroger, Ocado to Open 50,000 SF Fulfillment Center in Louisville

LOUISVILLE, KY. — The Kroger Co. has plans to open a 50,000-square-foot delivery spoke facility in Louisville. The Cincinnati-based grocer has partnered with Ocado Group, a UK-based technology company, to operate the facility. The property will collaborate with Kroger’s Customer Fulfillment Center in Monroe, Ohio. Additionally, the Louisville property will serve as a cross-dock to connect customers with fresh food by using a combination of vertical integration, machine learning and …

Marcus & Millichap Brokers Sale of 30-Unit Apartment Property in Henderson, Kentucky

HENDERSON, KY. — Marcus & Millichap has brokered the sale of Elmwood Apartments, a 30-unit multifamily property located in Henderson. The property sold for $1.3 million. Aaron Kuroiwa, Jack Friskney and Austin Meeker of Marcus & Millichap represented the buyer and seller, which were both undisclosed limited liability companies. Colby Haugness, Marcus & Millichap’s Kentucky broker of record, assisted in closing the transaction. Elmwood Apartments includes 16 one-bedroom and …

A&G, Murray Wise Secure Stalking Horse Bidder for 1.9 MSF Greenhouse Property in Paris, Kentucky

PARIS, KY. — A&G Real Estate Partners and Murray Wise Associates LLC have secured a stalking horse bidder for the sale of AgTech Scientific Greenhouse, a 1.9 million-square-foot greenhouse and agricultural warehouse complex in Paris. Aurora Management Partners is the receiver seller for original owners AgTech Scientific Group LLC, Color Point LLC and undisclosed affiliates. The stalking horse bidder, an undisclosed agricultural company, has entered into an asset purchase agreement for …

JLL Income Property Trust Acquires Industrial Facility in Louisville for $39.5M

LOUISVILLE, KY. — JLL Income Property Trust has acquired South Louisville Distribution Center, a 327,000-square-foot, newly constructed industrial property in Louisville. The sales price was $39.5 million. The seller was not disclosed. The South Louisville Distribution Center is fully leased to Rivian, an electric vehicle automaker and automotive technology company. The seven-year lease includes annual rent increases of 2.8 percent. Completed in August 2021, the property includes Class A …

Stoneweg US Acquires Two Multifamily Communities in Louisville for $230M

LOUISVILLE, KY. — Stoneweg US has acquired Middletown Landing and Mallard Crossing at St. Matthews, two multifamily properties in metro Louisville, for $230 million. The deal added 1,246 units to the company’s portfolio. Jay Weiner of Rosewood Realty Group represented the buyer and the seller, Columbus, Ohio-based Lifestyles Communities. Middletown Landing comprises 646 units in mostly townhome-style floorplans with an average unit size of nearly 1,100 square feet. Unit features include …

Derby City Office Market Now Entering Full-On Recovery Mode

Louisville’s office market is certainly a representative example of a typical office market in a mid-sized city. As expected, Louisville experienced the impact of COVID-19 and the remote work trend. Downtown had to endure the social unrest during summer 2020 that created a perception of a lack of safety. Our community has work to do to get things back to “normal,” but things are slowly starting to move in the right direction. As has always been the case, the downtown and suburban …

Booming Employment Continues to Drive Louisville’s Impressive Multifamily Market

Louisville’s multifamily market has long benefited from the city’s highly diversified employment base. With strongholds in distribution (boosted by the recent surge of e-commerce sales), manufacturing, healthcare and professional services, Louisville has rebounded from the pandemic-induced recession more quickly than much of the rest of the country. As of July 2021, the local unemployment rate was 4.5 percent, while the national rate was 5.4 percent. In addition to increased job growth, …

Ready Capital Closes $7.1M Loan for Three-Property Multifamily Portfolio in Metro Louisville

LOUISVILLE, KY. — Ready Capital has closed on a $7.1 million loan for the acquisition, renovation and stabilization of a 120-unit, three-property multifamily portfolio in the Jefferson County submarket of metro Louisville. The properties’ names were not disclosed. Upon acquisition, the sponsor will implement a capital improvement plan to renovate the properties, including renovations to the unit interiors, building exteriors and common areas, as well as amenity upgrades. The loan was a …

Marcus & Millichap Brokers Sale of 165,759 SF Office Building in Lexington

LEXINGTON, KY. — Marcus & Millichap has arranged the sale of 101 Yorkshire Blvd., a 165,759-square-foot office property located in Lexington. The sales price was $11.5 million. Joseph DiSalvo, Alexander Nulf and Gus Poulos of Marcus & Millichap represented the seller, an undisclosed private investor, in the deal. John Mundell of Marcus & Millichap represented the buyer, an undisclosed private investor. Colby Haugness of Marcus & Millichap also assisted in closing this …

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