JLL IPT Acquires 284K-SF Louisville Airport Distribution Center

JLL Income Property Trust has acquired Louisville Airport Distribution Center, a 284,000-square-foot, newly-constructed Class A industrial property located in the Southside/Airport industrial submarket of Louisville. The sales price was $32.1 million.

Constructed in 2020, the property is fully leased to Haier US Appliance Solutions and Derby Industries, with a weighted average lease term of 5.1 years. Features include 36-foot clear heights, LED lighting and HVAC throughout. The acquisition is JLL Income Property Trust’s second in Louisville after purchasing the Louisville Distribution Center earlier this year.

“The Louisville Airport Distribution Center’s infill location in the Southside/Airport industrial submarket, where vacancy is just 1.9%, makes this an excellent portfolio fit for us as we continue to increase our allocation to core industrial assets located in close proximity to irreplaceable transportation infrastructure,” said Allan Swaringen, CEO at JLL Income Property Trust. “Given this property’s modern construction, strong tenants and exceptional location, we feel it will provide strong long-term value and cashflow to our diverse portfolio.”