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DevelopmentKentuckyMixed-useNews

Cowgill to Develop 44-Acre Hamburg East Mixed-Use Development in Lexington, Kentucky 

by Hayden Spiess

Lexington, Ky. — Cowgill Inc. has announced plans to develop a new, 44-acre mixed-use project in Lexington. Dubbed Hamburg East, the property will feature restaurant, hotel, apartment, retail and green space. Hamburg East will also include a 41-acre parcel that was acquired by the University of Kentucky in September and designated as the site of a new medical facility. Construction on the development is scheduled to begin immediately. The project team includes ATS Construction, Davis H. Elliott Co., Design Works and Vision Engineering. Cowgill, a locally based family company, currently owns …

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RD1-Distillery_Commons_Lexington
DevelopmentKentuckyMixed-useNews

RD1 Spirts to Open 10,215-Square-Foot Distillery at The Commons in Lexington, Kentucky

by Hayden Spiess

Lexington, Ky. — RD1 Spirts has signed on to join as an anchor tenant at The Commons, a 40-acre mixed-use development in downtown Lexington. The locally based bourbon brand plans to invest $4.8 million to develop the two-story distillery spanning 10,215 square feet and including an entrance off Main Street. The venue will include outdoor seating on both levels, four private tasting rooms, a glass-enclosed research-and-development space for wood finishing for RD1’s bourbon barrels, VIP speakeasy tasting room, craft cocktail bar and a gift shop. RD1 plans to open the distillery …

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Paddock-Shops_Louisville-Ky
Investment salesKentuckyNews

CBRE Investment Management, Fairbourne Acquire 353,665-Square-Foot Shopping Center in Louisville

by Hayden Spiess

Louisville, Ky. — A joint venture between a CBRE Investment Management fund (CBRE Strategic Partners US Value 9) and Fairbourne Properties has acquired Paddock Shops, a retail center located in Louisville. The property, which was 88 percent leased at the time of sale, comprises 353,665 square feet and features 1,976 parking spaces. Tenants at the center include The Fresh Market, Barnes & Noble, Build-A-Bear Workshop, Five Guys, Gap, Mitchell’s Fish Market, Orangetheory Fitness, Orvis, Pottery Barn, Starbucks Coffee, Total Wine & More and West Elm, according to the property website. 

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Scottsville-Shopping-Center_Scottsville-Ky
Grocery-anchoredInvestment salesKentuckyNews

Legacy Brokers Sale of 31,800-Square-Foot Retail Center in Scottsville, Kentucky

by Hayden Spiess

Scottsville, Ky. — Legacy Realty Group Advisors has brokered the sale of Scottsville Shopping Center, a 31,800-square-foot retail center located in Scottsville. Food Lion anchors the property. Jacob Baruch and Jonah Warshaw of Legacy represented both the buyer and seller in the transaction. 

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Company newsDelawareIndianaInvestment salesKentuckyMarylandMichiganNew YorkNewsOhioPennsylvaniaRestaurantsVirginia

Necessity Retail REIT Sells 44 Bob Evans-Leased Properties for $93 Million

by Hayden Spiess

New York City — The Necessity Retail REIT Inc. (RTL) has completed the sale of 44 properties leased to Bob Evans restaurants for a total $93 million. The restaurants are located in Kentucky, Indiana, Ohio, Michigan, Delaware, Pennsylvania, Virginia, West Virginia and Maryland. “With this sale, we have intentionally reduced our total portfolio exposure to fast casual dining to less than 2 percent from 4 percent, based on annualized straight-line rent,” says Michael Weil, chief executive officer of RTL. 

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Oxmoor Center
DevelopmentKentuckyNews

Brookfield Properties Completes Renovation, 30,000-Square-Foot Expansion of Oxmoor Center in Louisville

by Hayden Spiess

Louisville, Ky. — Brookfield Properties has completed a 30,000-square-foot addition and renovations to Oxmoor Center, a regional mall in east Louisville. The project, which also included the addition of 27 acres of surface parking, is the redevelopment of a big box space formerly occupied by Sears. Topgolf recently opened within the space, which features room for nine additional tenants. The development team for the project included Hoar Construction, Strong Tower Exterior Envelope Wall Systems, Louisville Paving & Construction Co. and Hobbs+Black Architects. Oxmoor Center spans nearly 900,000 square feet and …

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Houston-Commons_Florence
Investment salesKentuckyNews

Cooper Commercial Arranges $6.1 Million Sale of Houston Commons Shopping Center in Metro Cincinnati

by Hayden Spiess

Florence, Ky. — The Cooper Commercial Investment Group has arranged the $6.1 million sale of Houston Commons, a shopping center located in Florence, roughly 13 miles southwest of Cincinnati.  PetSmart, which recently signed an early extension at the property through 2035, anchors the center, which was 88 percent leased at the time of sale. An Illinois-based buyer purchased the center from the seller, a private investor. Dan Cooper of Cooper Commercial represented the seller in the transaction.

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AlabamaArkansasGeorgiaInvestment salesKentuckyNewsOklahomaTennessee

Matthews Arranges $16.1 Million Portfolio Sale of Eight Stores Leased to Family Dollar-Dollar Tree

by Hayden Spiess

Nashville, Tenn. — Nashville-based Matthews Real Estate Investment Services has arranged the $16.1 million portfolio sale of eight stores leased to the combo Family Dollar-Dollar Tree discount retail concept. The stores are located in Blountsville and Clayton, Alabama; Pauls Valley, Warner and Maud, Oklahoma; Edison, Georgia; Lincoln, Arkansas; and Coldiron, Kentucky. Josh Bishop of Matthews represented the seller, an unnamed developer that built the stores. The undisclosed institutional buyer purchased the properties at a cap rate of 6.4 percent.

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Freddy's-Owensboro-Ky
Investment salesKentuckyNet leaseNewsRestaurants

Marcus & Millichap Arranges $2.5 Million Sale of Single-Tenant Property in Western Kentucky

by Hayden Spiess

Owensboro, Ky. — Marcus & Millichap has arranged the sale of a single-tenant 2,584-square-foot property located in Owensboro. Dan Yozwiak and Darpan Patel represented the undisclosed buyer in the $2.5 million transaction. Freddy’s Frozen Custard & Steakburgers occupies the property, which was renovated in 2018, on a net-lease basis and recently committed to a 15-year lease with renewal options. Colby Haugness, Kentucky broker of record, assisted in closing the sale.

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