CRG and STAG Industrial break ground on 500,240-Square-Foot Spec industrial facility near Louisville, KY

CRG, along with development partner STAG Industrial, announced they have broken ground on Park Loop @ I-65. The project is a 500,240-square-foot speculative industrial facility located at 650 Park Loop Road in Shepherdsville, Ky., about 20 miles south of Louisville. Construction is scheduled for completion in early 2026.

Located on 42.53 acres in Louisville’s Bullitt County submarket, 1 mile east of Interstate 65, Park Loop @ I-65 is adjacent to Cedar Grove Business Park, a successful, 12.5-million-square-foot industrial park owned primarily by institutional investors and home to Amazon, UPS and other major e-commerce, distribution and automotive users. Park Loop @ I-65 is also less than 20 miles from Louisville International Airport and UPS Worldport, the latter of which is the fifth-busiest airport in the world by cargo traffic and the third-busiest in North America.

“Louisville remains one of the best markets for new industrial product, with a vacancy rate of just 3.8% in first-quarter 2025 and a high level of continued user demand,” said Kevin Scott, senior vice president and partner, Ohio Valley Region, at CRG. “This project offers proximity to high-quality labor and access to Louisville’s unparalleled supply chain infrastructure, making it an ideal location for a wide range of users.”

Park Loop @ I-65 will feature 40-foot clear heights, 96 dock doors, four drive-in doors, 185-foot-deep truck courts, ESFR sprinklers and high-efficiency LED lighting. The facility will also provide ample trailer storage and parking for 310 vehicles.

“STAG is excited to add another Class A facility to our Louisville portfolio, and to partner with CRG in this established industrial park,” said Steve Kimball, executive vice president – real estate operations at STAG Industrial.

CRG’s parent company, Clayco, will serve as the design-builder for the project, while integrated partner Lamar Johnson Collaborative will be the architect. CRG and STAG have retained Alex Grove and Doug Butcher of CBRE to market and lease the project.

Park Loop @ I-65 represents CRG’s philosophy of developing best-in-class, next-generation distribution facilities designed to meet the demands of Fortune 500 companies and other premier users as well as institutional investors.

“With extremely limited bulk product available in the Louisville market today, this well-located project is positioned to take advantage of Louisville’s elevated level of tenant demand from manufacturers and distribution users alike,” said Grove.

Nationwide, CRG has planned, broken ground on or completed over 53 million square feet of industrial projects. All are situated in key regional logistics hubs with robust transit infrastructure, high workforce availability and significant population bases.