A prominent out-of-state developer has revealed its plans for a former food plant in Louisville that it recently acquired.
IAC Properties filed a development plan with Louisville Metro Planning & Design Services earlier this week to construct a roughly 210,000-square-foot industrial warehouse and more than 9,000 square feet of attached office space on about 12 acres at 4420 Bishop Lane in Louisville. The site is the home of the former Dean Foods Co. plant that closed earlier this year.
A letter submitted with the development plan states the roughly 90,000-square-foot warehouse on site will be demolished to make way for the new building. Construction costs and a development timeline were not disclosed in the documents, and there were no potential tenants named. I have reached out to IAC Properties for more information and this story may be updated.
The developer is working with Louisville-based surveying, land planning, civil engineering and landscape architecture firm Land Design & Development Inc. on the proposal.
An affiliate of IAC properties acquired the Bishop Lane plant in August for nearly $1.9 million, according to a Jefferson County deed. The sale came after the food and beverage giant said in April that it planned to permanently close its Louisville branch in the midst of Chapter 11 bankruptcy. The closure impacted a few dozen workers.
IAC, which has offices in the Chicago and Los Angeles areas, has developed a sizable portfolio of properties in major industrial warehouse distribution markets across the U.S. Its current real estate holdings features a portfolio of roughly 6.5 million square feet in five national markets that includes Chicago, Dallas, Los Angeles, Louisville and Seattle.
IAC also filed plans earlier this year with Louisville Metro Government to develop a 200,000-square-foot industrial development on nearly 17 vacant acres at 7300 South Hurstbourne Parkway in the Fern Creek area.