Dermody Properties Breaks Ground in Louisville
CHICAGO, Ill. – On July 24, Dermody Properties, a national industrial development firm, broke ground on LogistiCenter at I-65, a 624,000 SF industrial development near Louisville, Ky. The site is located at 972 Conestoga Parkway in Shepherdsville, Ky. at the full four-way interchange of I-65 and Kentucky Highway 44. The location has excellent proximity to both the Louisville Airport and the UPS Worldport Hub. The project is being developed and managed by Dermody Properties’ Midwest Region office in Chicago, Ill.
“This development will be a state-of-the-art facility that meets the needs of the underserved 300,000 to 600,000 SF size range in the greater Louisville area,” said Brian Quigley, partner, Dermody Properties Midwest Region office. “We are pleased to break ground on LogistiCenter at I-65, and look forward to continuing to develop quality projects throughout the Louisville community.”
LogistiCenter at I-65 is located within a 287-acre, high-quality, mature business park with excellent access to I-65. The park is only 12 miles south of the Louisville airport, 15 miles south of downtown Louisville and is also home to the UPS Worldport Hub.
“This project is another step in our national development strategy,” said Douglas A. Kiersey, Jr., president of Dermody Properties. “We believe this site is a premier location in the Louisville market for warehousing and distribution facilities. We look forward to expanding our development presence in this important logistics market in the future.”
Dermody Properties is purchasing and developing the project in concert with Granite Real Estate Investment Trust. Granite is a Canadian-based REIT engaged in the ownership and management of predominantly industrial properties in North America and Europe. Granite owns approximately 29 million square feet and over 100 properties.
The project is being marketed by Tom Sims of the CBRE-Louisville office, Kovert Hawkins Architects will lead the design team and Summit Construction will be the general contractor.