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Author: Grisanti Group

CategoriesCommercial Real Estate

SOLD-Louisville Industrial Real Estate

By Grisanti Group,

The Louisville industrial real estate market is about to get another modern distribution facility. Grisanti Group Commercial Real Estate has sold a 29-acre parcel of land for industrial development. The property is 7830 National Turnpike in Louisville’s Southside/Airport industrial submarket. Grisanti Group represented the seller in the transaction. The buyer plans to construct an approximately 400,000 square foot modern logistics/distribution facility.

A tenant for the proposed warehouse has not yet been announced, but our bet would be that an e-commerce distribution facility eventually calls this beautiful property home. As this article from Wealth Management states, “E-commerce had been averaging gains of 10 percent annually throughout much of the past decade, but those numbers have skyrocketed in recent years. A recent Deloitte study predicts that e-commerce will account for 30 percent of all U.S. retail sales by 2030.” Regional distribution facilities that enable “e-tailers” to provide customers with expedited delivery and return service are a crucial component of the e-commerce supply chain. The Louisville industrial real estate market has seen this boom result in millions of square feet in construction for logistics and distribution warehouses for e-commerce tenants over the last decade.

This new facility at 7830 National Turnpike will fit that mold. Grisanti Group is proud to have helped our client capitalize on this trend.

CategoriesNews

Self-Storage Sale!

By Grisanti Group,

 

Grisanti Group Commercial Real Estate, a member of the ARGUS Self-Storage Sales Network, has recently sold South Oldham Self-Storage a 26,175-square foot facility with 187 units in Crestwood, Oldham County, KY. The purchase price was $1,700,000. The purchaser was a national self-storage company with facilities in multiple states. The seller was a local developer.

Paul Grisanti, Ower and Principal Broker of Grisanti Group, and Nick Grisanti, Sales and Leasing Associate with Grisanti Group, had the exclusive listing to market the property on behalf of the seller. Grisanti Group secured the purchaser and represented both parties in the transaction. Grisanti Group has brokered $11,170,000 in self-storage transactions in 2016.

South Oldham Self-Storage is in the heart of Crestwood, KY, a bustling community on the outskirts of the Louisville Metro Area. The facility was developed in 2001-2002 and consists of three buildings and outdoor parking for approximately 20 vehicles. The facility is fully fenced and has automated entry and exit gates. It has security cameras and an office for on-site management.

aerial-zoom-in

The self-storage/mini-warehousing industry is experiencing a boom right now, and many national and regional investment groups are looking to enter the Louisville market. Grisanti Group is poised to help self-storage owners in Kentucky, Tennessee, and Southern Indiana maximize the value of their asset by connecting them to the right buyer for their property. While the demand for these properties is growing, they don’t sell themselves. South Oldham Self-Storage was a perfect example of needing to find the perfect buyer. While many national self-storage real estate investment trusts (REITs) may have passed on this property due the size being smaller than their target range, Grisanti Group was able to identify a buyer that specializes in smaller facilities in secondary markets like Crestwood.

Call us today for a free evaluation of your self-storage/mini-warehouse property.

CategoriesNews Recognition & Awards

20 People to Know in Real Estate

By Grisanti Group,

Our very own Paul Grisanti has been named in Louisville Business First‘s annual list of 20 People to Know in Real Estate. Louisville real estate community has many incredible professionals that keep our market activity humming. Paul is honored to be counted among them. Paul’s experience sitting on Louisville Metro’s Board of Zoning Adjustment gives him a unique perspective within the commercial brokerage community. Because of this experience, Paul is able to provide insight and guidance to our clients as they are navigating the tricky waters of Louisville’s zoning regulations.

Here’s Paul’s Business First questionnaire in full:

What regulations, requirements or red tape are most daunting about your work? As a broker, we must always be aware of legal issues and regulations of our practice. But, more importantly, we must also be aware of the legal issues and regulations which our clients face. The most daunting issue for developers is environmental regulations. Although governmental regulation is intended to be good for all, the effort required by some rules and regulations can be difficult to achieve.

What are some up-and-coming areas to look out for in Louisville real estate?Obviously, with the new bridges — and especially the East End bridge — the Crestwood area is poised to grow. This area is easily reachable from the East End bridge when coming from Indiana into Kentucky. Since no exit will be allowed at U.S. 42 when coming into Kentucky, taking Interstate 71 north and getting off at Crestwood will be convenient.

What advice would you give to someone who wants to build a real estate portfolio? Be choosy about selecting a very good location for now, and for the future. If you cannot purchase a property on your own, join with a good group who has similar goals.

Describe an experience with a client that was very gratifying to you. I assisted the owner in redeveloping a great property, from interviewing architects and contractors, to filling the mostly-vacant property with tenants. It is now 100 percent full and that is a good feeling.

What do you wish more people understood about the way your business operates? There are many aspects to this industry, and that is why it is so satisfying to me. I’m not certain that this question can be answered in one dimension. But, I will say that what is most misunderstood about this business are the technical issues — including legal issues — which some people do not appreciate or understand. Issues such as easements (rights granted to third parties), property title issues (is the obvious owner really the owner?), and the process of working thru the details of a contingent contract (sometimes there are lots of moving parts), are the most common areas of confusion.

Why did you get into the real estate business? I was in the restaurant business for more than 30 years and was able to communicate with customers of varied industries. Real estate always piqued my curiosity since it entailed so many different skills, such as communication, finance, negotiation and legal. And, it seemed to provide a good income, which it does.

CategoriesNews

October Sales

By Grisanti Group,

hwy-329-sold

The weather is turning cold, but October has been red hot at Grisanti Group. Five sales in Louisville, Crestwood, and Shelbyville totaling over $7 million have closed this month.

Our principal broker Paul Grisanti sold 52 acres of prime industrial real estate in Oldham County. This property is located in Crestwood on Hwy 329 near the I-71 Exit 14 interchange.

Paul had another sale of prime industrial real estate in Shelby County. A local Shelbyville industry purchased 5.5 acres of Grisanti Group’s 130-acre listing at Old 7 Mile Pike of land for $279,000.

The self-storage market is booming nationwide. As the exclusive ARGUS Self-Storage Network broker for Kentucky, Tennessee, and Southern Indiana, Grisanti Group’s phones have been buzzing with self-storage inquiries. Mike Helline, Grisanti Group’s Self-Storage specialist, sold a storage facility on Preston Hwy this month for $2,800,000. Mike also sold a car wash on Dixie Hwy for $450,000.

Patti Evans also got in the action this month with a sale of her office listing at 2607 Preston Hwy. The price was $195,000 for this two-story building with office on the first floor and apartments on the second floor.

Whether you are looking to purchase or sell or lease an industrial, self-storage, office, land, or retail property, Grisanti Group can help you achieve your real estate objectives in the Louisville, KY market.

CategoriesNews Recognition & Awards

Grisanti Group Rises in 2015 Business First Real Estate Rankings

By Grisanti Group,

Louisville Business First’s annual commercial real estate rankings are out and show that Grisanti Group Commercial Real Estate had a strong 2015. We ranked as a Louisville’s 9th highest brokerage for industrial transaction volume, selling over $11 million in industrial real estate. Pretty good for our lean and mean team! Compared to 2014, Grisanti Group also jumped upward in all three categories that track industrial, retail, and office transactions.

LBF Capture

Unwavering dedication to helping our clients accomplish their real estate and financial goals is the key to our success. Call us today to discuss how we can advise you on a successful commercial real estate transaction.

 

CategoriesNews

Former Furrow’s/Salvation Army Site Gets New Life

By Grisanti Group,

Grisanti Group is rounding out 2013 with another smooth commercial real estate transaction.

The Salvation Army purchased the defunct Furrow’s Building Center located at in Louisville Kentucky, at 6705 Preston Highway, in 2001.

After a few years, the Salvation Army ceased operations and put the property up for sale. Grisanti Group Commercial Real Estate represented Woodlands Pork in acquiring the rear portion of this property in 2011.

The latest news is that Grisanti Group, once again, represented a local investor, as well as the Salvation
Army, in transferring the front portion of this property. The investor purchased this property for the
operation of a siding and window company.

The building, nearly 40,000 square feet, will be used to warehouse and distribute the building materials
used by the new Tenant.

The lot of over 3.5 acres will also be used in the operation.

CategoriesNews

Mesh Restaurant Comes to Louisville

By Grisanti Group,

When Louisville’s Azalea restaurant closed its doors in 2007, it left a culinary void along Brownsboro Road. Six years later, the nearby neighborhoods of Rolling Fields and Mockingbird Valley have plenty of retail to choose from—clothing and jewelry stores line the picturesque corridor—but when it comes to food, options are few. Residents must travel to St. Matthew’s, Crescent Hill, or the Highlands to find a sit-down restaurant.

Grisanti Group Commercial Real Estate (Steve Lennon and Paul Grisanti) have teamed with Charles F. Bauer Realty Partnership to bring upscale dining back to Brownsboro Road. Paul Grisanti, the Principal Broker of Grisanti Group Commercial Real Estate, worked in the restaurant industry for thirty years, garnering valuable knowledge about Louisville diners and their specific tastes. So when Mesh, an Indianapolis-based restaurant, approached Grisanti and Bauer about expanding to Louisville, the former Azalea site seemed like a natural fit.

mesh logo

Mesh construction will begin this fall, and will open its doors in 2014. Studio A Architecture has designed a building that will combine Mesh’s contemporary flair with the historic sophistication of Brownsboro Road. The restaurant will use local ingredients, and “blend contemporary elegance and comfort with incredible food and excellent service.” Whether you’re in the mood for a casual, inexpensive night with friends or a date-night splurge, Mesh is sure to have exactly what you’re looking for. They will be open for brunch, lunch, and dinner, and their daily Happy Hour will feature a $2 bar menu. People from all over Louisville will be drawn to Mesh’s unique cuisine and warm atmosphere. The menu is chock full of delicious contemporary American fare, such as Pork Chops with parsnip purée and Swiss chard, Shrimp and Grits, Lamb Chops with mushroom bread pudding, and Jumbo Lump Crab Cakes. The to-die-for dessert offerings include chocolate terrine, praline cheesecake, Graeter’s Ice Cream, and more.

So mark your calendars for the grand opening of Mesh. In just a few short months, Brownsboro Road will once again be a Louisville foodie destination.

 

CategoriesNews

New Website!

By Grisanti Group,

Hello friends! Welcome to our new-and-improved website, courtesy of the fine folks at Take Note Designs. While you’re here, please take a few minutes to look around. We’ve got some phenomenal properties listed, and we’re excited to show you each and every one of them.

One of our featured properties is this BEAUTIFUL brick building in the heart of the Highlands.

1265 Bardstown Rd
1265 Bardstown Rd

This is a renovated building in the heart of the Highlands on Bardstown Road. It is directly across from Mid City Mall, and has excellent visibility.

Parking is on-street (front), on side (Metro Parking lot contiguous to property) and rear (alley access with garage).
Alley access is a big plus for maximum ingress and egress.

Construction: Beautiful solid brick masonry provides a handsome building which is structurally sound.

Mechanicals have all been updated (HVAC, Water heater)
Electric and Plumbing have been upgraded. (wiring and piping)
Water proofed basement provides a dry basement of 940 additional s/f.
Bathrooms include 2 full and one half bath.

 

CategoriesNews

Global Retail & Real Estate Convention

By Grisanti Group,

This past week, Paul Grisanti of Grisanti Group Commercial Real Estate traveled from Louisville to Las Vegas for the Global Retail Real Estate Convention (RECON). RECON is a gathering of real estate and retail professionals from all over the United States.

Paul attended panels on deal making, networking, leadership, education, best practices, innovation, and globalization.

Grisanti Group Commercial Real Estate prides itself on both its connection to Louisville and its national reach. Please give us a call–if you’re based in Kentucky, Indiana, or beyond!