The Hurstbourne Park and Hurstbourne Place office buildings were built in 1972 and 1982. The client purchased both buildings, along with a large adjacent retail center (Hurstbourne Plaza) in 2016.
Extensive renovation began to convert the site into a mixed-use development that would have some of the best ‘walkability’ in suburban Jefferson County. The existing retail center was demolished and replaced with the addition of two hotels, a 266-unit Class A apartment community and a small retail center.

The client wanted to achieve a price that reflected stabilized occupancy levels without discounting future capital expenditures that were needed.

Cushman & Wakefield | Commercial Kentucky used professional marketing materials to illustrate this irreplaceable location and the benefits of the recent development. By demonstrating the walkability and amenities not found in other suburban office locations, prospective buyers could see the future benefit to office tenants.

After receiving multiple offers from groups across the U.S., the ownership was able to take advantage of the stellar location of the stabilized properties by accepting an offer that was $2M above asking price.
Due diligence efforts were well managed by all parties and the closing went off on schedule and with no disruptions.