2011 saw renewed activity in Louisville industrial property sales; institutional investors made acquisitions in Jefferson, Bullitt counties

KTR made Bullitt County investments

By John R. Karman III  –  Reporter, Louisville Business First

Feb 17, 2012

It’s a story that apparently rings true with KTR Capital Partners, which owns four industrial buildings in the Louisville area, including two it acquired last year.

KTR paid $11.8 million for the 300,000-square-foot Louisville Logistics Centre building at 3212 E. Blue Lick Road near Shepherdsville in September, according to previous Business First reports.

The building is fully leased to Hillsdale Furniture LLC, a Louisville-based company that is one of the country’s largest designers and importers of residential case goods and accent furnishings. It has its distribution operation at the Bullitt County site.

Last summer, KTR paid developer Lee Wilburn’s Crossdock Development Inc. $26.6 million for a 662,000-square-foot distribution center in Shepherdsville’s Cedar Grove Business Park. Its tenants are Alliance Entertainment Corp. and Zappos Fulfillment Centers Inc.

The other two local KTR holdings are distribution centers at Jefferson Riverport International.

KTR officials could not be reached for comment, but Ryan Stoller, the firm’s Chicago-based vice president of investments, praised the Louisville market in a statement on the company’s Web site, www.ktrcapital.com.

“Louisville weathered the recent downturn well and has emerged as a hub of e-commerce fulfillment due to its low cost of real estate and the operational advantages tied to the presence of UPS Worldport,” he said.

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