Blue Steel Advances 2 MSF Louisville Industrial Development
The developer plans to complete the campus in late 2027.
Blue Steel Development has acquired a roughly 309-acre site for Steel 64, a 1.8 million-square-foot industrial project in Shelbyville, Ky.
Plans call for the development of two Class A distribution centers. The first property at Steel 64 will total 1.4 million square feet, while the second structure will comprise roughly 362,909 square feet.
Protective Life Insurance Co. has issued construction financing for Steel 64, in a transaction arranged by Bellwether Enterprise Real Estate Capital. CBRE is overseeing leasing efforts.
Construction will start in the fourth quarter of 2026, while completion scheduled for late 2027.
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The City of Shelbyville’s Triple S Planning Commission approved the preliminary subdivision plan for the site in July 2026, according to The Sentinel-News. The developer agreed to widen Old Brunerstown Road, construct a 446-foot, three-lane extension and dedicate 11 acres to the county for a future east-west connecting road. Building 1 is designed for a specific, undisclosed tenant, the same source shows.
Horton, Harley & Carter Inc. serves as architect of record, while Land Design & Development Inc. is the civil engineer. Other development partners include The Conlan Co. as general contractor for both structures.
The project site is in Shelby County, within the Louisville, Ky., metro area. Steel 64 will take shape on Old Finchville Road, along the Interstate 64 corridor, a major east-west artery. Louisville Muhammad Ali International Airport and the city’s downtown are approximately 28 miles away, while Lexington is within 50 miles.
The surrounding area is home to distribution and manufacturing facilities operated by major companies such as Builders FirstSource, Canadian Solar and Walmart. The development also benefits from access to regional freight infrastructure, with Norfolk Southern rail service within 2 miles of the site. UPS Worldport, CSX Intermodal and CSX Osborn Yard are also located near the city’s airport.
Facilities at Steel 64 are set to include clear heights of 40 and 36 feet, multiple truck access points, a dedicated trailer drop yard adjacent to Building 1 and double-row trailer parking space at the second property. The project carries I-1 zoning for warehouse and industrial use, aimed at accommodating tenants seeking distribution, logistics and manufacturing spaces.
Bellwether Enterprise Real Estate Capital’s Senior Vice Presidents David Collie and Josh Tarpley arranged the financing.
CBRE’s First Vice President Blake Scinta and Executive Vice President Doug Butcher are handling leasing for the remaining Building 2.
Louisville industrial sector sees new construction and capital flow
The Steel 64 development adds to Louisville’s construction and investment momentum. In September, a Shelbyville project underway known as The Blending House received a $45 million permanent loan from MetLife. The Koetter Group and The Spirits Group are the developers behind the project, designed for storing and blending bourbon.
During that same month, GE Appliances unveiled plans for a $1 billion investment at GE Appliance Park, its manufacturing plant and global headquarters in the city. The company will expand production and reposition a facility, in line with the company’s plans to relocate operations from Mexico to the Kentucky campus, as part of its manufacturing reshoring strategy.
In August, Ford released plans for a $2 billion investment targeting its Louisville Assembly Plant. The company will transform the 70-year-old factory into a next-generation EV manufacturing location, with production scheduled for 2027.
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