Dermody Properties Announces 208,320 Square Feet Lease in Louisville to Fisher & Paykel Healthcare

Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the lease of LogistiCenterSM at Louisville Airport Building 3 to Fisher & Paykel Healthcare, a leading designer, manufacturer and marketer of products and systems for use in acute and chronic respiratory care, surgery and the treatment of obstructive sleep apnea. Beginning this summer, the customer will lease the entire building totaling 208,320 square feet.

Fisher & Paykel Healthcare plans to use the building for distribution and will be relocating jobs from within the region to this new location.

The building is situated on a portion of the 41 acres Dermody Properties recently acquired to build a pair of modern logistics facilities. The parcel sits within the Louisville Renaissance Zone (LRZ), and within two miles of Louisville Muhammad Ali International Airport, the country’s second-busiest air cargo hub. The LRZ is home to many logistics and manufacturing companies including UPS Worldport–the airline’s primary U.S. hub–and Ford Motor Company. The adjacent LogistiCenter℠ at Louisville Airport Building 2 is also available for lease and offers 203,840 square feet of logistics space.

“The activity and growth around the Louisville airport is really exceptional. We continue to talk with many occupiers who see great value in being near this international logistics hub. We are very excited to deliver two new modern logistics buildings into this very tight market,” said Neal Driscoll, Midwest Region Partner at Dermody Properties. “At a time when Louisville industrial real estate is experiencing record-low vacancies, we are excited to welcome Fisher & Paykel Healthcare as a new customer and thank them for their confidence in the Dermody Properties team to commit to the building long-term and before construction is even completed. This provides a great opportunity for us to customize the building to meet Fisher & Paykel Healthcare’s needs.”

Kevin Grove of CBRE represented Fisher & Paykel Healthcare in the lease transaction. Tom Sims, also of CBRE, was the listing broker that represented Dermody Properties.

“Supply chain disruptions over the last year have many companies focused on expanding inventory capacity and space for distribution and e-commerce operations,” said Elizabeth Kauchak, Chief Operating Officer at Dermody Properties. “As this trend continues, Dermody Properties remains vigilant in sourcing logistics space to support the needs of our customers, in Louisville and across the country.”

LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies.