The Louisville industrial market recorded the highest quarter of positive net absorption in market history in the second quarter of 2018.
- The 1.46 million sq. ft. build-to-suit distribution building for Grainger was completed.
- Net absorption was 2,652,833 sq. ft. for the market.
- Vacancy rate fell by 100 bps to 6.2%.
- Average asking lease rate rose $0.04 per sq. ft. to $3.69 per sq. ft.
- Sazerac Company purchased the 455,000 sq. ft. former Pillsbury Plant in Southern Indiana for a bottling plant.