KTR Enters Louisville With Industrial Buy

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LOUISVILLE, KY-KTR Capital Partners recently entered the Louisville market with the acquisition of 7200 Global Drive, a 225,000-sf warehouse building on a 21-acre site in the Riverport submarket here. The existing building, which is fully leased to a single tenant, occupies 11 acres of the site. On the remaining 10 acres, KTR Capital plans to develop a distribution facility, which will allow the company to capitalize on the growing rents in the market, Jared Heuer, the company’s vice president, tells GlobeSt.com.

Heuer says the current plan calls for developing a 180,000-sf high clear height, front-loading, modern distribution facility on the land adjacent to the existing building. KTR Capital expects to break ground on the speculative building in spring 2007 with delivery slated for fall 2007.

Located directly off the Greenbelt Highway, the property offers access to Interstate 264, and the Louisville International Airport and the UPS hub there. It’s also located in the 1,800-acre Jefferson Riverport International industrial park, which offers Foreign Trade Zone Status and access to three major rail lines.