Annapolis, Md. (September 1, 2022) – Realterm announces the acquisition of 200 Lentz Avenue in Charlestown, Ind., a 60-door, 61,600-square-foot truck terminal. The high flow through industrial property on 23 acres also offers a 2,900-square-foot office.
“200 Lentz Avenue is in the Louisville, Kentucky region, which has become a major distribution and break-bulk hub. With the permanent demand driver of UPS Worldport, Louisville ranks among the top five markets in the country for air cargo and is positioned for continued freight volume growth,” said Joe Noon, Vice President, Central Region Acquisitions, Realterm. “Louisville’s central U.S. location affords the property access to more than 50% of the U.S. population within a day’s drive making this a strong addition to our portfolio.”
In addition to its 36 automobile and 117 truck parking spots, 200 Lentz Avenue has more than 5.5 acres of excess developable land that can be used for a second 75,000-square-foot high flow through industrial facility or additional trailer parking. The property is near IN-62, I-265, I-65 and I-71, and is 15 miles from downtown Louisville and 25 miles from Louisville International Airport.
“Louisville has seen extremely strong demand fundamentals, with vacancy falling to below 2% after experiencing 29 consecutive quarters of positive net absorption. Southern Indiana, due to its low operating costs and regional reach, saw 88% of the new construction product delivered in 2021 preleased or leased within the calendar year,” said Ed Brickley, Managing Director and Senior Fund Manager, Realterm. “With strong high flow through capabilities and room to grow, this is a valuable acquisition in a critical market.”
Highlights of 200 Lentz Avenue include:
- Square feet: 66,600 SF
- Land area: 23 acres
- Dock-high doors: 60
- Access: IN-62, I-265, I-65, I-71, downtown Louisville and Louisville International Airport
The deal was brokered by Robert Walker at Cushman & Wakefield and Stephen Pond at Industry Real Estate Partners.