The Hurstbourne Park and Hurstbourne Place office buildings, originally constructed in 1972 and 1982, were acquired by the client in 2016, along with the adjacent Hurstbourne Plaza retail center. Following the acquisition, an extensive redevelopment and renovation initiative was undertaken to transform the site into a mixed-use development designed to offer enhanced walkability, a rare feature in suburban Jefferson County. As part of the redevelopment, the existing retail center was demolished and replaced with two hotels, a 266-unit Class A multifamily community, and a new neighborhood-scale retail center, creating a cohesive, pedestrian-friendly destination that integrates office, residential, hospitality, and retail uses.

The client sought to achieve a sale price that accurately reflected stabilized occupancy levels while avoiding discounts tied to future capital expenditures required for the asset.

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.