The health care provider leases office space 208,000 square feet near the Airport.

Dermody Properties has leased a more than 200,000-square-foot building near Louisville Muhammad Ali International Airport.

health care provider leases office space 208,000 square feet near the Airport. An industrial building under construction close to Louisville Muhammad Ali International Airport is now completely let.

Dermody Properties, a national private equity real estate development, investment, and management company focused specifically on the logistics real estate industry, announced the sale of LogistiCenter located at Louisville Airport Building 3 to Fisher & Paykel Healthcare, according to a press announcement.

Fisher & Paykel is a top designer, manufacturer, and distributor of products and systems used in chronic and acute respiratory care, surgical procedures, and sleep apnea treatment.

In the summer of 2019, the tenant is leasing the whole structure, totaling 82,000 square feet located on the block that is 3200 on S. Park Road. We have reported on the beginning of the project in late 2020. An official from Dermody Properties said the building would be finished by June. The company did not disclose lease terms or the price of the construction work.

Fisher & Paykel Healthcare plans to use the facility for distribution and move jobs from the region to the new facility.

The property is located on the part of the area of 41 acres Dermody Properties recently acquired to construct two contemporary logistics centers. The parcel is situated in the Louisville Renaissance Zone (LRZ), located just two miles from Louisville Muhammad Ali International Airport, which is the country’s second-busiest cargo hub.

The LRZ hosts a variety of manufacturing and logistics firms, such as UPS Worldport — the airline’s principal U.S. hub — and Ford Motor Co. The LogistiCenter adjacent to Louisville Airport Building 2 is available for lease and has an area of 203,840 square feet for logistics space.


“The development and activity surrounding the Louisville airport are truly remarkable. We are still in contact with many occupiers who appreciate the benefits of living near this global logistics hub. We are extremely excited to introduce two brand new, modern buildings for logistics in the extremely competitive market,” said Neal Driscoll, Midwest Region partner at Dermody Properties, in the announcement. “At an era when Louisville industrial properties are seeing record-low occupancy, we are delighted to be able to welcome Fisher & Paykel Healthcare as new customers and appreciate their faith with our Dermody Properties team to commit to the building for a long time and even before the construction phase is completed. This is a fantastic opportunity to tailor the building to suit Fisher &Paykel Healthcare’s demands.”

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

The Illinois-based FCL Builders was the general contractor for the building. The Cincinnati-based ATA Beilharz Architects LLC was the architect, while Louisville’s Land Design & Development was the engineer.

“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.”

LogistiCenter is a nationally registered brand that is owned and developed through Dermody Properties, represents the company’s philosophy for business development, which is to create Class A logistics and distribution facilities that can meet the supply chain needs for the most creative firms.

Dermody Properties is a privately-owned real estate development, investment, and management company specializing in acquisitions and the creation of real estate for logistics in strategically located locations to serve fulfillment centers for online commerce and third-party distribution and logistics customers.

The company was founded in 1960 and is with its headquarters in Reno, Nevada; Dermody Properties has invested over $6.2 billion in total investment across its various platforms in the nation. It has acquired and built around 100 million square feet of logistical space and industrial facilities.

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