A massive warehouse occupied by Amazon Inc. has new owners.
Highline Real Estate Partners and Growth Capital Partners have purchased a 936,000-square-foot distribution facility at 100 W. Thomas P. Echols Lane in Shepherdsville, Kentucky, according to a news release. Terms of the deal were not disclosed.
The 51.5-acre property is near the Cedar Grove Road exit off Interstate 65. The building was constructed in 2009 and features 32-foot clear heights, 86 dock doors, and four drive-in doors.
The facility has been operating as an Amazon fulfillment center since 2013.
Growth Capital Partners arranged the purchase. CBRE Investment Properties Group Vice President George Fallon represented the seller.
Birmingham, Alabama-based Highline is an “operations-oriented investment firm which has executed more than $17 billion in real estate and merger and acquisition transactions,” according to a release. Birmingham-based GCP is an owner, operator, developer and manager of industrial properties.
With the latest purchase, the two firms’ joint portfolio totals nine properties and 3.6 million square feet, including a warehouse at 301 Logistics Ave. inside the River Ridge Commerce Center in Jeffersonville, Indiana.
“This acquisition is a strong addition to Highline’s growing presence in the Louisville market,” Highline Vice President of Investments Jake Wilk said in the release. “This follows our investment last year in River Ridge and reinforces our conviction in the region’s long-term growth, strong labor pool, and strategic logistics advantages. We look forward to continuing to invest in high-quality industrial assets across the country and supporting ongoing economic momentum nationwide.”
The W. Thomas P. Echols Lane sale is one in a string of major Louisville-area warehouse deals this year.
