Main Street Realty, a Louisville realty company owned by Humana Inc., plans to break ground this April on a $22 million warehouse project. The planned 600,000-square foot distribution center will be located in the Cedar Grove Business Park in Shepherdsville, KY.
Main Street Realty decided it was time to begin a large project now because there are few available facilities in the Louisville market of similar size. Currently, only one building of comparable size (624,000- square feet) remains in Bullitt County. During the recession, large industrial building projects came to a standstill. Today, there is only one warehouse of similar size under construction in the Louisville area. Last year, developers announced plans to build distribution centers in Southern Indiana, River Ridge and Jefferson and Bullitt Countries in Kentucky but ground has not been broken yet.
Main Street president and CEO Ken Payne says “We need to keep Louisville on the radar screen. We’re simply getting skipped over” by potential tenants who instead opt for nearby cities with more available space like Cincinnati, Indianapolis and Memphis, Tenn.
Marketing of the space has not begun in earnest yet so at this point there are no prospective tenants. The warehouse is being built on a speculative basis. Plans call for the facility to be ready for a tenant by Nov. 1st says Payne.
Main Street Realty has relied on Oasis Solutions Group for software service, support and training since 2004. If you would like to learn more about how Oasis can help support your company through accounting, human resources and payroll or sales and marketing software, contact us at 877-920-6902 or oasis.solutions