Louisville, KY Office Overview
The Louisville market includes high-density submarkets like Jeffersontown, Eastpoint Parkway, St Matthews, and Lyndon. With a metropolitan population of nearly 1.3 million, the local commercial real estate market sees significant demand from the health care, transportation, high-technology, and tourism industries.
As of mid-2017, the market encompasses nearly 27 million square feet of existing office space in properties larger than 50,000 square feet. As the largest city in Kentucky, the market in Louisville posts robust demand for office space from diverse industries such as shipping, medical sciences, and manufacturing.
Louisville, KY Office Inventory Description
Louisville sprawls along the banks of the Ohio River and is impacted by the unique business cultures of both the Old South and the Midwest. With a gross metropolitan product of nearly $67 billion annually, the demand for employment continues to grow. Nearly 40% of the office space in Louisville is Class A, with Class B inventory accounting for nearly all of the remaining 60%.
Trophy office properties include the 9901 Linn Station Road building, Hurstbourne Place on Shelbyville Road, and the Forum Office Park Building IV on Hurstbourne Parkway in the suburb of Lyndon, Kentucky.
Louisville, KY Commercial Inventory Breakdown
Office Spaces
Total: 28,723,957 SF
By square footage range:
- 50k to 100k SF: 7,962,929 SF / 27.72% of total office
- 100k to 500k SF: 16,279,376 SF / 56.68% of total office
- 500k to 1M SF: 4,481,652 SF / 15.6% of total office
By class:
- Class A: 11,623,038 SF / 40.46% of total office
- Class B: 14,758,296 SF / 51.38% of total office
- Class C: 453,004 SF / 1.58% of total office
Top 10 Largest Office Buildings
in Louisville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| Waterfront Plaza | 325 West Main Street, 40202 | 737,776 | 1991 |
| National City Tower | 101 South 5th Street, 40202 | 723,300 | 1972 |
| Humana Waterside Building | 101 East Main Street, 40202 | 705,000 | 1991 |
| Aegon Center | 400 West Market Street, 40202 | 633,650 | 1993 |
| Brown-Forman Headquarters | 850 Dixie Hwy, 40210 | 600,884 | 1935 |
| PNC Plaza | 500 West Jefferson Street, 40202 | 556,042 | 1971 |
| Humana Building | 502 West Main Street, 40202 | 525,000 | 1985 |
| Dixie Medical Mall at Dixie Manor Shopping Center | 6801 Dixie Hwy, 40258 | 353,810 | 1997 |
| Brown & Williamson Tower | 401 South 4th Street, 40202 | 346,213 | 1982 |
| Meidinger Tower | 462 South 4th Street, 40202 | 332,129 | 1983 |
Largest Office Properties Recently Completed
in Louisville
| Office building | Address | Sqft | Year built |
|---|---|---|---|
| 3050 Terra Crossing Blvd | 3050 Terra Crossing Blvd, 40245 | 132,000 | 2021 |
| ShelbyHurst Office Campus - 435 North Whittington Pkwy | 435 North Whittington Pkwy, 40222 | 119,650 | 2021 |
| L&N Federal Credit Union Headquarters | 9113 Smyrna Pkwy, 40229 | 70,000 | 2021 |
| 2550 Eastpoint Pkwy | 2550 Eastpoint Pkwy, 40223 | 48,000 | 2021 |
| QSR Automations Headquarters | 2710 Buddeke Drive, 40206 | 36,739 | 2021 |
| 5900 US Highway 42 | 5900 US Highway 42, 40241 | 40,000 | 2020 |
| Two Olympic Park Plaza | 4803 Olympia Park Plaza, 40241 | 135,917 | 2019 |
| Old Henry Crossing #7 | 13906 Promenade Green Way, 40245 | 66,050 | 2019 |
| Old Henry Crossing #6 | 2201 High Wickham Place, 40245 | 60,760 | 2019 |
| 900 East Main Street | 900 East Main Street, 40206 | 28,760 | 2019 |
Louisville, KY Green Office Space
While not yet ranking in the Top 30 markets in the U.S., green office space in Louisville is on the rise, with dozens of projects scattered throughout the metropolitan area.
The ShelbyHurst Office Campus on 600 North Hurstbourne Parkway is a local example of a Class A green building. With over 125,000 square feet of space, this 4-story property was built in 2012 and is LEED certified. As tenants, national and global investors seek out green certified assets for their use and portfolios, the green office trend will continue to take root in Louisville.
Developers are aware of this demand, and with the number green building projects underway, Louisville is making progress in becoming one of the top green office markets. The 2017 National Green Building Adoption Index looked at properties in 30 major U.S. markets and discovered, EPA Energy Star-labeled buildings included, that the percentage of green certification has increased nationally from under 5% in 2005 to 38% as of mid-2017.
Louisville, KY's Top Office-Using Sectors
Demand for commercial real estate in Jefferson County is driven by a combination of multiple businesses including traditional manufacturing, transportation, and health care.
- Manufacturing – Ford Motor Company, GE Appliances, and Brown-Forman all create strong demand for commercial real estate in the metro.
- Transportation – The UPS Worldport at the Louisville International Airport, and the inland Jefferson Riverport International both have a major impact on local demand.
- Health Care & Insurance – As home to Humana health insurance, Louisville is a major center for the health care and medical sciences sectors that generate white collar employment.
- Corporate Offices – The demand for while collar workers in Louisville also comes from companies such as Norton Healthcare, Kindred Healthcare, KentuckyOne Health, and LG&E Energy that create employment.
Frequently Asked Questions
How much does office space cost in Louisville, KY?
The average office rental rate in Louisville, KY is $23.97 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. Check Louisville Office Market Trends for more stats.
What is the size of available office spaces in Louisville, KY?
The Louisville, KY office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 45,050 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Louisville, KY is 100 square feet, while the maximum rentable space on the market now is 90,000 square feet.
How do I get office space in Louisville, KY?
Start your search for office space in Louisville, KY by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Louisville, KY?
There are 384 office listings on the Louisville, KY market. See all available office spaces for rent.
Where to rent an office space in Louisville, KY?
Popular Louisville neighbourhoods with available office spaces include Louisville Central Business District, Eastpoint Parkway and Phoenix Hill.
What other property types are available for lease in Louisville, KY?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
Louisville Demographics
Population
- Total Population740,144
- Male Population(48.3 %) 357,552
- Female Population(51.7 %) 382,591
- Median Age37.00
Income/Financial
- Average Household Income$84,623
- Median Household Income$53,307
- Median Income Under 25$36,667
- Median Income 25-44$59,226
- Median Income 45-64$63,749
- Median Income Over 65$38,145
News
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2018 Office Check-In: Top US Markets for Development, Largest Projects of the Year
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