Dermody Properties Acquires 17.1 Acres for New LogistiCenter℠ at Louisville Airport in Kentucky
We recently acquired 17.1 acres near the Louisville Muhammad Ali International Airport (SDF) from the Louisville Renaissance Zone Corporation (LRZC). The site is located in the Renaissance South Business Park, which was created by the LRZC on 680 acres of land located within two miles of SDF, two interstate highways and a major rail line.
The site is the future home of a 352,800-square-foot warehouse/distribution center. It will be called LogistiCenter℠ at Louisville Airport and will be located in the Southside/Airport sub-market at 2825 Transglobal Drive. The project is under construction and will be complete by first quarter of 2020.
“This is an outstanding location for logistics-focused companies because of its proximity to major freeways, giving our customers easy access to the markets of the central United States, as well proximity to the UPS Worldport,” said Elizabeth Kauchak, Chief Operating Officer for Dermody Properties. “This will be the fourth facility Dermody Properties has developed in the Louisville metro area within the past five years.”
“Dermody Properties is a wonderful partner and we know they will do great work at the Renaissance South Business Park,” said Dan Mann, President of the LRZC, who also serves as the Executive Director of the Louisville Regional Airport Authority. “This new addition is the perfect example of working together to invest in the community.”
The majority of the properties in the area are institutionally owned and leased to a variety of ecommerce, distribution/warehouse and assembly companies. The Southside/Airport sub-market is the largest in the Louisville area and includes UPS Worldport and the Ford Louisville Assembly Plant.
“This new acquisition and the development of this LogistiCenter℠ expands our presence in the Louisville market, and we are very pleased to continue our relationships in this community,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “This furthers our strategy of investing in key logistics markets nationwide.”
The building features a 32’ clear height, 60’ X 56’ speed bay, 7” concrete floor slabs, 46 dock-high doors, four grade-level doors, 73 truck trailer spots and 256 auto parking stalls.
Leasing for the new building will be represented by Kevin A. Grove, CCIM, SIOR and Doug Butcher, SIOR, both of CBRE in Louisville.
The architect for the project is ATA-Beilharz Architects and the general contractor is Gordian Design & Construction, both of Cincinnati. The civil engineer is Sabak Wilson & Lingo of Louisville.