Premier Retail Offering (Louisville, KY) 9901,9901,9903 Brownsboro Rd Local commercial 1 375 m² 100 % Loué À vendre Louisville, KY 40241 10 501 099 € (7 637,36 €/m²) Taux de capitalisation 5 %

Qualified investors are extended the opportunity to acquire the new four-tenant retail development, Brownsboro Station, located in the center of one of the most affluent trade areas in Louisville, Kentucky. The center is fully leased by McDonald’s, Sherwin-Williams, Heartland Dental, and Zaxby’s.
Louisville, KY based firm, Hogan Real Estate, broke ground on the 2.74-acre development in 2023, with all tenants open by October 2024. The development is located in the affluent Springhurst trade area with over 500 ft of frontage along busy Brownsboro Road (Hwy 22), a major thoroughfare of Northeast Louisville. The immediate area features densely populated residential neighborhoods, including the 600-acre mixed-use lifestyle community, Norton Commons which has driven significant growth in the area for the past two decades. There is an abundance of shopping and entertainment destinations drawing consumers to the area, including The Paddock Shops and Old Brownsboro Crossing (home to Cabela’s, Lowe’s, Costco, and Norton hospitals).
Across three buildings, Brownsboro Station’s four tenant leases commenced in 2024 with a minimum of 10-year primary terms. McDonald’s absolute net ground lease has a primary term of 20 years, with 8 additional options and rental escalations in year 10 and each option period. Sherwin Williams commenced in June 2024 and has a primary term of 12 years, two option periods and rental escalations every 6 years. Adjoining Sherwin Williams in the two-tenant building is Heartland Dental, which has a 10-year primary term, August 2024 commencement, and three option periods, with rental escalations every 6 years. The Zaxby’s ground lease features a 15-year primary term, two options periods and rental escalations every 6 years.