LOUSIVILLE, Ky. — JLL Income Property Trust, an institutionally managed daily NAV REIT, announced the acquisition of Louisville Distribution Center, a one-million-square-foot, Class A industrial property located in South Louisville, Kentucky. The purchase price was $95 million.
Louisville’s central location at the confluence of major highways allows distribution to over half the U.S. population within a day’s drive via interstate highways I-24, I-64, I-65, I-71, and I-75, reinforcing JLL Income Property Trust’s research-led industrial strategy focused on acquiring properties with primary access to critical hubs of distribution and transportation infrastructure.
The property is also within 20 miles of major distribution hubs including UPS Worldport (Air Distribution Hub), UPS Centennial Hub (Ground Distribution Hub), and the Louisville International Airport.
The property includes 40-foot clear heights, cross-docking, LED motion sensor lighting, 234 trailer parking spaces, and HVAC throughout.
This investment brings JLL Income Property Trust’s aggregate industrial allocation to nearly $900 million, or 28 percent of the portfolio, across 34 properties in 12 targeted warehouse markets.
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