Kentucky

HGA to Design University of Kentucky’s $265M Research Facility

by John Nelson October 27, 2015

LEXINGTON, KY. — The University of Kentucky has tapped HGA Architects and Engineers to design Research Building Two (RB2), its new $265 million, 306,000-square-foot research center on the Lexington campus. Construction is underway on the facility, which will house scientific research that will work to resolve health disparities in Kentucky such as cancer, obesity, diabetes, cardiovascular diseases and substance abuse. Champlin Architecture serves as the executive architect and architect of record. Slated for completion in the summer of 2018, RB2 will be located west of the existing Biomedical Biological Sciences Research Building and north of the Biological Pharmaceutical Building. Consultants on the project include Affiliated Engineers Inc., CMTA Engineering Consultants, THP Limited Inc., CARMAN, Jacobs Engineering Group Inc. and Towers | Golde.

October 27, 2015

Clarion Hotel Lexington Conference Center

Hospitality Kentucky Southeast

Huff, Niehaus Arranges $5.9M Sale of Hotel in Lexington

by John Nelson October 16, 2015

LEXINGTON, KY. — Huff, Niehaus & Associates Inc. has arranged the $5.9 million sale of the Clarion Hotel Lexington Conference Center in Lexington. The seller, Dogwood Hotels LLC, recently invested $1.2 million to renovate the 149-room hotel. The property sits on a 5.9-acre site off an I-75 exit. Lexington Hospitality Group LLC purchased the hotel from Dogwood and plans to add a restaurant. Brandt Niehaus, president of Huff, Niehaus and a member of Hotel Brokers International, represented the seller in the transaction.

October 16, 2015

Kentucky Multifamily Southeast

Commercial Kentucky Brokers $5.9M Sale of Apartment Community in Louisville

by John Nelson October 12, 2015

LOUISVILLE, KY. — Commercial Kentucky Inc., an Alliance member of Cushman & Wakefield, has brokered the $5.9 million sale of Kennedy Place, an 88-unit apartment community in Louisville. Monticello Properties purchased the property from Hall Family Holdings LLC. Craig Collins of Commercial Kentucky, along with Mike Kemether of Cushman & Wakefield’s Atlanta office, represented the seller in the transaction.

October 12, 2015

Kentucky Retail Southeast

BC Wood Properties Buys Three Kroger-Anchored Shopping Centers for $30.4M

by John Nelson September 23, 2015

LEXINGTON, KY. — BC Wood Properties has purchased three Kroger-anchored shopping centers totaling 290,000 square feet for a combined $30.4 million. The shopping centers include Merchants Crossing in Jackson, Mich.; Shoppes of Hope Valley in Durham, N.C.; and Ridgewood Farm in Salem, Va. The Lexington-based company purchased the assets from a single seller via BCW Strategic Alliance Fund LP, the company’s second private equity fund.

September 23, 2015

Kentucky Office Southeast

Commercial Kentucky, Cushman & Wakefield Continue Alliance

by John Nelson September 22, 2015

LOUISVILLE, KY. — Cushman & Wakefield will continue to operate in the Louisville metro and surrounding areas through its Alliance partnership with Commercial Kentucky Inc. The Louisville-based commercial real estate brokerage firm was founded in 1973 as Scherer/Casper & Associates. Commercial Kentucky first began its relationship with Cushman & Wakefield in 1981 and expanded its capabilities to include market research, property management and appraisal services, in addition to office, industrial, retail and investment brokerage services. Earlier this year, Cushman & Wakefield entered into an agreement to sell the firm and merge with DTZ. The merger closed September 1, creating a global commercial real estate services provider with 43,000 employees across 60 countries. The merger impacted many major markets where both firms have a presence and client relationships. “We look forward to continuing our relationship with the new Cushman & Wakefield,” said Phil Scherer, president of Commercial Kentucky. “We have the same team dedicated to providing superior services and insight to our clients, backed by decades of local experience and market knowledge. As a Cushman & Wakefield Alliance partner, our capabilities and opportunities will only continue to grow.”

September 22, 2015

Kroger Marketplace 4915 Dixie Highway Louisville

Kentucky Retail Southeast

TRIO Arranges Kroger Marketplace Lease in Louisville

by John Nelson September 15, 2015

LOUISVILLE, KY. — TRIO Commercial Property Group has arranged a long-term ground lease with Kroger for a new 123,000-square-foot Kroger Marketplace in Louisville. The new store is set to open before Thanksgiving 2016 at 4915 Dixie Highway. Justin Baker of TRIO represented Kroger in the lease transaction. The landlord, Louisville-based Dixie Associates, was self-represented.

September 15, 2015

Industrial Kentucky Southeast

Dermody Properties to Develop 898,560 SF Warehouse for Wayfair in Kentucky

by John Nelson August 27, 2015

ERLANGER, KY. — Nevada-based Dermody Properties, in a joint venture with Hillwood Investment Properties, plans to develop an 898,560-square-foot facility in Erlanger for Wayfair Inc., an online home furnishings and décor retailer. The facility will be located on a 52-acre site at 1600 Donaldson Road adjacent to the Cincinnati/Northern Kentucky International Airport (CVG). Dermody Properties and Hillwood leased the land site from CVG earlier this year. The facility, known as LogistiCenter at 275, will be the largest single development by square footage in the history of Dermody Properties. DTZ represented Wayfair in the lease transaction. Paul Hemmer Co. is the general contractor on the project. Construction is expected to be complete in the second quarter of 2016.

August 27, 2015

Kentucky Retail Southeast

Lincoln Property Co. Southeast Buys New Shopping Center in Louisville for $36M

by John Nelson August 21, 2015

LOUISVILLE, KY. — Lincoln Property Co. Southeast has purchased the newly built Jefferson Commons, a 196,488-square-foot shopping center located in Louisville, on behalf of American Realty Capital-Retail Centers of America I & II, a non-traded REIT. Lincoln acquired the center from the center’s developer, GBT Realty Corp., for $36 million. The retail center’s tenant roster includes Academy Sports + Outdoors, H.H. Gregg, Michaels and Shoe Carnival.

August 21, 2015

Kentucky Retail Southeast

Marcus & Millichap Brokers $5.8M Sale of Shopping Center in Louisville

by John Nelson August 19, 2015

LOUISVILLE, KY. — Marcus & Millichap has arranged the $5.8 million sale of Sawyer Shops, a 23,408-square-foot shopping center located at 2809 N. Hurstbourne Parkway in Louisville. The property is an unanchored, multi-tenant retail center that is 100 percent leased. Brian Munn and Ethan Armentrout of Marcus & Millichap’s Atlanta office teamed up with Larry Hausman of the firm’s Louisville office to represent the seller in the transaction. Aaron Johnson of Marcus & Millichap’s Louisville office assisted in closing the transaction. Both the buyer and seller were in 1031 tax-deferred exchanges.

August 19, 2015

Kentucky Loans Seniors Housing Southeast

Lancaster Pollard Provides $5.4M Loan for CCRC in Louisville

by John Nelson July 17, 2015

LOUISVILLE, KY. — Lancaster Pollard has provided $5.4 million in HUD financing for Springhurst Pines, a continuing care retirement community (CCRC) in Louisville. Baptist Homes Inc. (BHI) owns and operates the CCRC, which includes three separate facilities on a 20-acre campus. The financing will be used to convert 35 percent of the community’s semi-private Medicaid skilled nursing units to private Medicare units, as well as build a 40-unit Medicare wing with therapy space. The nonrecourse loan made through HUD’s 232/241(a) supplemental loan program has a loan term of 25 years. Chris Blanda led the transaction for Lancaster Pollard.

July 17, 2015

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