Bose Corp. deal is one reason industrial leasing activity is up

Bose Corp., the company well known for its sound systems, now has a home in the Louisville area.

By Marty Finley  –  Reporter, Louisville Business First

Jul 24, 2015 Updated Jul 27, 2015, 2:36pm EDT

The Framingham, Mass.-based company that designs speakers, radios, sound systems and other electronic devices, has leased 196,000 square feet at 800 Patrol Road in River Ridge Commerce Center in Southern Indiana, according to a quarterly industrial real estate report released Thursday by Louisville-based Commercial Kentucky Inc.

The Bose lease is an indicator of a busy year in the local industrial real estate market. The Commercial Kentucky report shows that industrial leasing activity is up 40 percent for 2015 over the previous year.

Total leasing activity for the second quarter exceeded 1.6 million square feet, bringing total industrial leasing activity in the Louisville market for the year to more than 2.7 million square feet.

How Bose is using the facility could not be determined by Louisville Business First as company officials have not responded to several email and phone call inquiries. Real estate sources familiar with the Bose deal told me they are not permitted to speak about the transaction.

Commercial Kentucky helped broker the deal to bring Bose to the region, but officials at the commercial real estate firm deferred all questions to Bose.

Lee Wilburn, who runs Louisville-based Crossdock Development, owns the building at 800 Patrol Road but has declined to name tenants.

But Wilburn told me in late June that the $28 million warehouse had two tenants taking up 516,000 square feet with 148,000 square feet left to lease.

Lakeland, Fla.-based Saddle Creek Corp., a company that specializes in warehousing, transportation, logistics and packaging services, is the other tenant at 800 Patrol Road.

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