8401 Air Commerce Drive 100% Leased
August 16, 2023
LOUISVILLE, Ky. – Transwestern Investment Group (TIG®) announces it has acquired 8401 Air Commerce Drive on behalf of a separately managed account. The 314,102-square-foot industrial asset located in Louisville, Kentucky, is fully leased to Johnson Controls Inc.
“8401 Air Commerce Drive sits in one of the region’s most in-demand industrial submarkets,” said Andy Norman, Director of Asset Management, TIG. “Its irreplaceable location and high-quality tenancy made this acquisition an ideal opportunity that aligned with our strategic approach of acquiring well-positioned assets within key logistics markets across the United States.”
Situated in Louisville’s Airport submarket, the distribution center is within a 10-minute drive to Louisville International Airport, one of the top 10 busiest cargo airports in the world, as well as UPS Worldport, CSX Louisville Intermodal Terminal and the Ford Louisville Assembly Plant. The property also offers convenient access to Interstates 65 and 265, allowing for distribution to 66% of the U.S. population within one day.
The Louisville Airport submarket continues to experience a rise in demand due to its strategic location, highway connectivity and growing consumer base. According to Transwestern research, the Louisville industrial market ended the second quarter of 2023 with 4.1% vacancy and posted annual rent growth of 7.5%.
JLL brokered the deal.
Photos available for download here.
About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $5.0 billion of assets under management. The firm serves a broad range of institutional and high-net-worth investors with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for investors across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The investors included in this press release were not selected based on performance, but because they are some of the largest well-known investors with similar strategic alliances. It is unknown whether these investors approve or disapprove of TIG or its services or products.