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Opus Starts First Spec in Louisville Market

LOUISVILLE—The area has seen a great number of improvements to its transportation infrastructure, boosting its attractiveness to distributors.

By Brian J. Rogal | brianjrogal | | Updated on April 14, 2016

 

lou-OpusRiverRidgespecrendering (2) The Louisville side of the Ohio River is land-constrained, but Opus officials say land is available at the River Ridge Commerce Center in Jeffersonville, IN.
LOUISVILLE—The Opus Group has become one of the most active industrial developers in the Midwest, and yesterday company officials said they were ready to launch a speculative warehouse and distribution facility at the River Ridge Commerce Center just north of Louisville in Jeffersonville, IN. The 426,450-square-foot building located in will be Opus’ first development in the Louisville market. “A few years ago, we started spending time down there to get comfortable with the market, and what we found was good, steady industrial demand,” Douglas J. Swain , vice president and general manager, Opus Development Co., LLC , told GlobeSt.com. The region is home to the UPS Worldport Air Hub , for example, as well as the Ford Motor Co. and many of its parts suppliers. And since much of the land on the Louisville side is unsuitable, either due to a lack of available spaces or difficult terrain, Opus looked north to Jeffersonville and the River Ridge development. “You have already got a solid base of users there and institutional ownership.”   Swain expects a lot more activity in that area. Several billion dollars was recently spent improving both roads and bridges in the area, including a new bridge for I-65, the major interstate in the area, spanning the Ohio River. “That will increase the connections to the Louisville market in general.”   Situated on nearly 25 acres of land, the facility will be able to accommodate single-or multi-tenant occupancy. Located just off Ste. Rte. 62, River Ridge provides tenants with quick access to area’s rapidly improving freeway system. Other features of the warehouse include 32′ clear height, 44 dock positions, more than 300 car parking spaces and 49 excess trailer parking spots. Opus will begin construction this month and plans to complete the development by November. “It’s a great project and I am sure it won’t be our last in Louisville,” said Swain. Opus Development Co. LLC will be the developer, Opus Design Build, LLC will be the design-builder and Opus AE Group, LLC will be the architect and structural engineer of record. CBRE will market the property for lease.

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