Link Logistics Acquires Louisville Infill Property

Link Logistics has acquired a 402,444-square-foot last-mile industrial asset at 5100 Jeff Commerce Drive in Louisville, Ky. The purchase price was not disclosed.

The seller was also not officially disclosed, though Yardi Matrix lists the previous owner as Office Star Products, a retailer of office and residential furniture that has owned the building since its completion in 2017.

Office Star Products is one of two occupants of the infill property, the other being American Tire Distributors.

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CBRE represented Link Logistics, while NAI Fortis and Lee & Associates represented the seller.

Link Logistics, CBRE, NAI Fortis and Lee & Associates did not reply to Commercial Property Executive’s requests for additional information.

The building was developed on a 27.9-acre site and features a 32-foot clear height, 36 dock-high doors and one grade-level door, according to Yardi Matrix. Its location in the Southside/Airport submarket is near major logistics and manufacturing hubs, including UPS Worldport, GE Appliance Park and the Ford assembly plant.

Louisville’s industrial sector seeing improvement

Louisville’s industrial space market is improving along multiple dimensions, according to a second-quarter report from Colliers. The market saw positive net absorption of 1.0 million square feet in the quarter, which helped—along with diminishing supply of new product—to pull overall vacancy down to 5.6 percent.

Meanwhile, the average weighted asking rent rose by 8.9 percent year-over-year, and speculative new construction starts have decreased substantially, Colliers reported.

A recent deal in the region came in June, when JLL Income Property Trust secured a $49 million mortgage for the Louisville Logistics Center in Shepherdsville, Ky. JLL IPT had acquired the 1,043,000-square-foot distribution center asset from Core5 Industrial Partners for $82 million in 2023.