CRG, STAG Kick Off Louisville-Area Industrial Project

June 19, 2025

The duo will deliver this 500,240-square-foot project next year.

A partnership between CRG and STAG Industrial broke ground on Park Loop @ I-65, an industrial development measuring 500,240 square feet in Shepherdsville, Ky. Completion is slated for early next year.

Clayco provides design-build services, while Lamar Johnson Collaborative is the architect of record. CBRE will market and lease the speculative project.

Park Loop @ I-65 is set to feature a clear height of 40 feet, four drive-in doors and 96 dock doors, as well as a truck court with a depth of 185 feet. Parking arrangements will consist of 310 parking spaces.

Located on more than 42 acres at 650 Park Loop Road, the development site is roughly 23 miles southeast of downtown Louisville, Ky., and about 28 miles from the military base at Fort Knox, Ky. Interstate 65 runs within less than 3 miles, while the Louisville International Airport operates approximately 19 miles away.

Prologis’ Cedar Grove Business Park, a 12.5 million-square-foot industrial park consisting of 10 buildings, is adjacent to Park Loop @ I-65’s construction site. What’s more, Prologis is looking to expand the campus, adding another structure, according to a Shepherdsville City Council meeting.

CRG has an industrial portfolio encompassing 53 million square feet of completed, under-construction or planned product across the U.S. Its inventory includes The Cubes-branded properties, a handle initially worn by CRG’s Shepherdsville project.

Louisville’s growing industrial pipeline

Metro Louisville’s industrial completions clocked in at 1.2 million square feet during the first three months, according to a CBRE report. These included four untenanted speculative projects, raising the market’s vacancy rate by 30 basis points to 3.8 percent in March.

At the end of that same month, the metro’s pipeline consisted of 6.4 million square feet of industrial product underway, marking a 60 percent quarter-over-quarter increase, the same source shows.

This development momentum lingered well into spring as Hunt Midwest broke ground on two speculative buildings encompassing 775,000 square feet at the Simpsonville 64 Logistics Park.