W. P. Carey has aquired a 1.05 million square foot industrial site in Shelbyville, Kentucky, which is set to get a big investment.
The asset, I-64 Commerce Center, was purchased for $102 million, according to a report from the Commercial Property Executive, citing Shelby County public records.
The cross-docked facility is 100 percent leased to Canadian Solar. The location, at 139 Logistics Drive, serves the company's main $800 million manufacturing plant, which is in Jeffersonville, Indiana. The world's largest solar and renewable energy firm plans to pour as much as $500 million in I-64 Commerce to set up battery assembly capabilities. That would add to existing features such as full circulation, 40-inch clear heights, ESFR sprinkling, and parking spots (for trailers and cars).
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