Louisville Commercial Real Estate News Brief: February 2018

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting the Louisville market.

Louisville Industrial Market Maintains Positive Outlook Following Historic Development

After a historic 4.5 million square feet were delivered in 2017, Louisville’s industrial market success is expected to continue in 2018. Experts predict falling vacancies and rising rental rates as momentum picks up again the first half of the year.

A 224,000-square-foot warehouse on Technology Drive by WPT and a 324,000-square-foot warehouse on Minor Lane from Kelly Construction both delivered in 2017. Both properties are expected to be occupied by the second quarter in part due to favorable market conditions.

Also to come in the first half of 2018 is an additional 2.7 million square feet of space, which will include Exeter’s 506,000-square-foot building in River Ridge. With space on the market, development may come to a slow down.

More Louisville Headlines

  • Investment in the 107-unit RiverPark Place development is approaching $100 million. The site would bring a marina, public plaza and multifamily space to Waterfront Park.
  • A developer filed plans in November 2017 to convert an office building in downtown Louisville into a 94-room Holiday Inn hotel. The building would undergo renovations including exterior finishes, floor additions and the development of a new restaurant.

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