A joint-venture between Brennan Investment Group and TriGate Capital announced its acquisition of a 212,500 square foot Class A distribution facility known as TradePort I in Louisville, Kentucky. The property is located at 9001 Cane Run Road in the Riverport submarket, a master-planned infill logistics park with excellent access to I-65 and the UPS Worldport.
“Louisville’s emergence from a regional distribution market to a global center of e-commerce, largely attributable to the $1 billion, 5.2 million square foot UPS Worldport facility, is evidenced by the presence of major e-commerce users such as eBay, Amazon, Zappos, Gilt Group, and many others,” said Michael Brennan, Chairman and Co-Founder of Brennan Investment Group. “The benefits to the industrial real estate market are manifested in 7 consecutive years of positive absorption and a 96.2% occupancy rate.”
This acquisition is illustrative of Brennan Investment Group’s strategy to acquire functional, well located assets, in key distribution markets with the ability to add value through repositioning and leasing. The seller, Principal Real Estate Investors, was represented by Kevin Grove of CBRE Louisville.