News
Dermody Properties Announces Acquisition and New Development in the Louisville Airport Submarket
Dermody Properties is pleased to announce the acquisition of 21-acres west of the Louisville’s Airport submarket. The company will redevelop the property and build LogistiCenter® at Airport West, a new, 342,720 square-foot Class A logistics facility. The project will break ground in the fall and is expected to be completed by summer.
Strategically located in Louisville’s prime Southside/Airport submarket, LogistiCenter® at Airport West is a transformative redevelopment project that will revitalize an outdated industrial site. Situated just west of the world-renowned Louisville Muhammad Ali International Airport, one of the five busiest air cargo hubs globally, this logistics facility offers unparalleled accessibility. The property is near major economic powerhouses such as UPS Worldport, a massive air hub for UPS, Ford Louisville Assembly Plant and GE Appliance Park.
“The near proximity to Louisville’s international airport and the region’s extensive road, rail, river and runway transportation network provides customers with exceptional access to and from the facility,” said Neal Driscoll, Midwest Region Partner at Dermody Properties. “Customers will also benefit from the Midwest’s highly skilled workforce, one that is deeply committed to supporting the logistics industry.”
LogistiCenter® at Airport West will feature a build-to-suit office, 36’ clear height, 40 dock doors, two drive-in doors, 190 parking stalls, 70 trailer spaces, ESFR fire protection and LED lighting. The 342,720 SF facility will accommodate a wide variety of uses, making it ideal for advanced manufacturing, logistics and more.
“This acquisition marks the seventh logistics facility Dermody Properties has developed in the more than 10 years we have been in the Louisville metro area, reaffirming our dedication to this thriving Midwest market and its value proposition in the national supply chain,” said Tim Walsh, Partner and Chief Investment Officer for Dermody Properties. “This strategic investment aligns with Dermody Properties’ ongoing commitment to expanding our presence in key markets across the nation.”
Dermody Properties was represented in this transaction by Kevin Grove and Alex Grove of CBRE.
Dermody Properties’ Midwest Region spans 15 states. The region currently has three properties available, offering over 5.2 million SF of state-of-the-art logistics space. LogistiCenter® at Pleasant Prairie, Wis. will have pad ready sites available in Q3, 2024. The Logistics Campus in Glenview, Ill. currently has five buildings available for occupancy, totaling 1.02 million SF. The facility, 1501 Harris Road, in Libertyville, Ill. is currently available for occupancy. For more information, please visit the region page on the Dermody Properties website.