Tag Archives: Louisville Commercial Real Estate

Top Attributes Transforming the Warehouses of Today and Tomorrow

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By Greg Hopkins, Associate, JLL

JLL recently released the Industrial Warehouse of the Future report outlining the top attributes that are redefining industrial properties. Below we outline three main themes and their impact in the Midwest.Man jumping over cargo trailer in industrial warehouse environment.

Industrial vacancies continue to fall in Midwest. The… Read More

Louisville Commercial Real Estate News Brief: March 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 Louisville.

Louisville Unveils Strategic 20-Year Growth and Development Plan

Louisville Metro Government released its comprehensive 20-year plan focused on land use, growth and development in the region through the year 2040. The new plan builds off of Cornerstone 2020—the plan used to guide the region from 2000 to 2020.

The 20-year plan focuses on walkability, green space, varying methods of efficient transportation along with a heavy focus on affordable housing development. Other pieces of the plan put emphasis on the potential redevelopment of vacant or abandoned lots and housing.… Read More

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.… Read More

Louisville Commercial Real Estate News Brief: January 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 Louisville.

Louisville to Expand Downtown Business Improvement District

Beginning in early 2018, the Louisville Downtown Partnership plans to expand the Business Improvement District, also known as the Louisville Downtown Management District.… Read More

Louisville Commercial Real Estate News Brief: November 2017

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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 to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Growth from “Big 3” Employers Drive Industrial Development in Louisville

Thanks to continued growth from the region’s three main employers—UPS, GE and Ford Motor Co.—the region is poised to attract more industrial development, including e-commerce fulfillment centers, pharmaceutical distribution operators and more. With strong confidence in the market, owners are empowered to consider portfolio expansion. A few of the most recent expansions come from Exeter and GLP, which both announced acquisitions in the third quarter of this year.

Though total industrial vacancy hovers near 10.7%, rental rates should stabilize as space is absorbed by the demand of tenants in the market.… Read More

JLL People to Know Spotlight: Matthew Hartlage

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Editor’s Note: This article was originally published in Louisville Business First.

Matthew Hartlage | JLL

Matthew Hartlage works as a Vice President of Brokerage in JLL’s industrial sector. He specializes in the leasing and sale of industrial properties throughout Louisville and Southern Indiana.

Years in the industry: 14

Favorite Louisville neighborhood: St. Matthews

Why did you get into the real estate business?

Real estate has always piqued my interest, and I wanted the opportunity to interact with businesses and owners in order to understand their operational needs so that I might become a trusted adviser able to assist with their real estate-related needs. Over coffee with a mentor in spring 2004, I realized seizing the chance to join the industrial team at Harry K. Moore Co. (now JLL) would be the perfect fit.

What are some up-and-coming areas to look out for in Louisville real estate?

The opening of the Lewis and Clark Bridge will continue to fuel growth in Southern Indiana, but Kentucky passing right-to-work [legislation] and proximity to Louisville International Airport/Interstate 65 corridor will continue to drive demand in established, infill locations.

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Louisville Commercial Real Estate News Brief: September 2017

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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 Louisville to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

New Mixed-Use Property Begins Construction in Paristown

Photo Credit: Brent Moore

Construction on the $28 million mixed-use Paristown Pointe neighborhood is now underway. The project underwent strategic planning for nearly five years and was first announced in 2015. Developers and city leaders envision the development as an arts and cultural hub with a number of anchors.

Development plans include the following:

  • A $6 million renovation and expansion of Louisville Stoneware
  • A $1 million brewery / taproom from Goodwood Brewing Co.
  • A $12 million performance and entertainment venue for the Kentucky Center for the Performing Arts

Other project details include infrastructure improvements, like outdoor public space, building and landscape features, storm water infiltration and streetscape improvements. The entire development is expected for delivery by spring 2019.

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Louisville Market Commercial Real Estate News Brief: August 2017

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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 to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

A Swell in Investment Activity Reinforces Confidence in the Louisville Market

Photo Credit: David Grant

Investment sales increased in the second quarter as more companies sought to relocate their headquarters within the Louisville business community. Multi-million dollar expansions by manufacturers, such as GreiffPackaging, Arroweye Solutions and Bluegrass Supply Chain Services LLC, have contributed to the high velocity of investment and stimulated job availability within the city.

Passport Health recently announced its relocation to the vacated 15.5-acre lot in West Louisville. The investment will help to expand the city’s healthcare system and likely have a positive impact the region, which has previously struggled to attract private investment.

Investment activity in both the suburban submarkets and the city’s CBD is expected to remain active as businesses continue to focus on the Northeast submarkets. In addition, newly vacated space in PNC Tower is expected to encourage future investments in the CBD.

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A Floor-by-Floor Perspective of Midwest Real Estate: What Skyline Will We See in the Next Five Years?

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By: Andrew Batson, Director of Research, JLL

Increasing leasing activity, speculative development and shifting market leverage in commercial real estate are constantly reshaping city Skylines across the U.S.

JLL’s Skyline Review registrants can take a deep dive into the trends impacting 57 major skylines across the United States and Canada, and learn about which national trends are transforming markets close to home.

Read on for a closer look at how the Skylines in the Midwest are performing and what to expect in the coming months.

Mixed-Use Development is on the Rise in Cincinnati

Cincinnati’s Skyline is comprised of large office buildings that are occupied by large tenants, many of them recognized as Fortune 500 companies. Rental rates have dropped 0.7% from 2016 to Q1 of 2017. At the same time, vacancy rates remain well above the national average at 20.9%, which has boosted demand for affordable Class A space within the Skyline.… Read More

Louisville Market Commercial Real Estate News Brief: June 2017

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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 to keep you in-the-know.

Keep up with Spaces’ monthly recaps—subscribe today.

Louisville Improves Green Sustainability Rankings in New Research

Louisville ranks 37th out of the country’s 50 largest metro areas on clean technology policies, according to a new research piece by Clean Edge. The ranking is an improvement from last year when the city ranked 45th out of 50.

The city of Louisville has been hard at work implementing new policies and green initiatives to help reduce the effects of climate change. The city’s mayor, Greg Fischer, signed the Compact of Mayors in 2016, which commits to reducing greenhouse gases.… Read More