SparrowHawk Announces Closing on $31.9M Louisville Industrial Portfolio Sale

LOUISVILLE, Ky., Aug. 16, 2017 /PRNewswire/ -- SparrowHawk Real Estate Strategists has completed the sale of its Bluegrass Industrial Portfolio in Louisville, Kentucky. Exeter purchased the five-building, 582,541-square-foot portfolio for $31.9 million from SparrowHawk. International Director John Huguenard, Managing Directors Sean Devaney and Powell Spears led the JLL Capital Markets team that brokered the transaction.

The portfolio is split between the Airport and East submarkets, both of which benefit from the five interstates that converge within Louisville's city limits. Both submarkets also allow for easy access to Louisville International Airport.

The portfolio is fully occupied to a diverse roster of credit tenants in industries ranging from retail to technology. The buildings range from 71,340 square feet to 190,000 square feet and have recently undergone capital improvements including repaved parking lots, new roofs on four of the buildings, upgraded lighting and HVAC replacement. 

Alfredo Gutierrez, SparrowHawk's founder said, "We are pleased to have concluded the sale of Bluegrass Industrial portfolio to Exeter Property Group. This sale reinforces our belief in the strength and stability of the Louisville market with its centralized location to reliable transportation, proximity to logistical infrastructure and significant employment bases."

About SparrowHawk Real Estate Strategists
SparrowHawk Real Estate Strategists is a privately held industrial real estate firm headquartered in Houston, Texas. SparrowHawk specializes in the acquisition, management, enhancement and disposition of quality industrial properties throughout the continental United States, for the benefit of institutional investors, brokers, and tenants.

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SOURCE SparrowHawk Real Estate Strategists