Two Olympia
CLIENT: Fenley Real Estate
LOCATION: 4803 Olympia Park Plaza
REAL ESTATE TYPE: Office
SQUARE FOOTAGE: 137,486 SF
Project Overview
Two Olympia Park is a 100% leased, 137,486 square foot office building in Louisville’s most affluent suburban submarket. The Northeast submarket achieves the highest per square foot rental rates in the city with vacancy rates that are below the city’s average.
Built in 2019, the owner included state-of-the-art amenities such as a wellness center with cardio and weight room, locker room facilities, as well as on-demand fitness programs, a conference center for tenant use, a guard station with secured parking and entrances under video surveillance, a Zen garden, and an outdoor space with benches and seating areas.
The Challenge
The unique nature of the property, which included several amenities not typically provided in the local market, demanded a higher price than many out of state investors were able to understand.
The Solution
By providing market data and educating national, and international, prospects on the financial benefits associated with the ownership of a one-of-a-kind asset in this market, the brokers were able to negotiate several offers for consideration..
Results Achieved
Cushman & Wakefield | Commercial Kentucky was able to close on a sale of Two Olympia at the highest price per square foot ever paid for an office building in the state of Kentucky.