Industrial Q Kentucky

JLL sells 582,000-square-foot industrial portfolio in Louisville

JLL sells 582,000-square-foot industrial portfolio in Louisville,ph01

JLL’s Capital Markets team recently completed the sale of the Bluegrass Industrial Portfolio in Louisville, Kentucky.

Exeter Property Group purchased the five-building, 582,541-square-foot portfolio for $31.9 million from SparrowHawk Real Estate.

International director John Huguenard and managing directors Sean Devaney and Powell Spears led the JLL team on the deal.

The portfolio is split between the Airport and East submarkets, both of which benefit from the five interstates that converge within Louisville’s city limits. Both submarkets also allow for easy access to Louisville International Airport.

The portfolio is fully occupied to a diverse roster of credit tenants in industries ranging from retail to technology. The buildings range from 71,340 square feet to 190,000 square feet and have recently undergone capital improvements including repaved parking lots, new roofs on four of the buildings, upgraded lighting and HVAC replacement.