LOUISVILLE—Dermody Properties recently acquired 35.8 acres in the Louisville region and says they will use it to begin developing a 624,000-square-foot industrial building on a speculative basis. This is the second major project recently launched by the firm. GlobeSt.com previously reported that Dermody and the Berks County Industrial Development Authority had acquired 89.2 acres in Berks Park 78, an industrial park in Bethel, PA, for the development of a build-to-suit or speculative industrial facility.

The Kentucky parcel, in the Settlers Point Business Park in Shepherdsville, sits near the interchange of I-65 and Kentucky Highway 44 and both the Louisville Airport and the UPS Worldport Hub. The project will be developed and managed by Dermody's Chicago-based Midwest Region office.

“After scouring the market for development-ready land sites to meet the underserved 300,000 to 600,000-square-foot size range, Dermody Properties came to the conclusion that this transportation-advantaged location was the very best site on which to develop a large-scale, high-quality industrial building in the Louisville market,” says Brian Quigley, a partner in the Midwest office. “This distribution center will offer a modern 36-foot clear height designed for sophisticated users to operate two or three mezzanine levels for picking and packaging both bulk and individual inventory items for same day delivery.”