Dermody Properties acquired 21 acres west of 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. Dermody Properties was represented in this transaction by Kevin Grove and Alex Grove of CBRE.
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. 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.
“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.
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