Colliers Arranges Sale of 302K-SF Industrial Building in Kentucky

Colliers completed the sale of Gray Industrial Center Building 2, a newly completed 302,400-square-foot industrial facility at 530 Logistics Drive in Shelbyville, Kentucky, approximately 30 miles east of Louisville.

The build-to-suit distribution facility is fully leased to Kuehne+Nagel, a global logistics provider. Colliers Industrial Capital Markets advisors Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse and Tyler Ziebel, together with local CBRE leasing advisors Doug Butcher and Alex Grove, represented Gray Development. The property was sold to ElmTree Funds in a forward-funded acquisition that closed upon completion of the facility.

“Gray Industrial Center Building 2 demonstrates the continued demand for build-to-suit industrial facilities in strategically located markets like Shelbyville, where access to the I-64 corridor and the greater Louisville region continues to attract both occupiers and institutional capital,” said Alex Cantu. “Forward-funded acquisitions of newly completed, fully leased assets remain highly attractive to investors seeking modern industrial product supported by long-term tenancy and strong market fundamentals.”

Situated on approximately 32.19 acres, the Gray Industrial Center Building is located approximately one mile from Interstate 64. The property provides convenient access to Louisville International Airport and UPS Worldport.