(From Business First, September 28, 2021)
A well-known Louisville developer recently acquired an East End logistics facility.
Poe Companies purchased the Bunsen Distribution Center on 10401 Bunsen Parkway in the Bluegrass Industrial Park. Hank Hillebrand, director of development for Poe Cos., said updates will be done to the facility to get it ready for new tenants.
New York-based Benefit Street Partners sold the building to Steve Poe’s development company for $7.5 million, according to the Jefferson County Property Valuation Administrator website. Hoagland Commercial Realtors facilitated the deal. Hillebrand didn’t comment on the total cost of the renovations.
The 184,874-square-foot building will be receiving a fresh coat of paint, as well as a new parking lot, according to Woodford Hoagland, partner at Hoagland Commercial Realtors. He also said the exterior façade will be getting some enhancements.
The building has ceiling heights of 24 feet to 17 feet and offers multiple docks per suite.
Architects on the project are Jeffersonville, Indiana-based Kovert Hawkins Architects. Hillebrand said the company is doing most of the renovation work itself. The work should be finished this fall.
The building was previously occupied by a single tenant, Florida-based Hollander Sleep Products. Poe Cos. acquired the building vacant and are preparing to lease it as a multi-tenant facility.
Hoagland said the company is anticipating the building to hold three to five tenants, and suites can be lease from 25,000 square feet and up. One tenant, Kentucky-based Jones Plastic and Engineering, has already signed to lease just under 40,000 square feet of the space. Hoagland said the company already has a location in the Bluegrass Industrial Park and is expanding their operations.