Houston Firm Buys Former Circuit City Warehouse at Riverport

Posted: May 31, 2013

Louisville Business First by John R Karman III, Reporter

SparrowHawk LLC, a Houston-based real estate firm that recently bought two buildings here, has acquired a former Circuit City Stores Inc. warehouse at Jefferson Riverport International. SparrowHawk closed on the purchase of the 210,000-square-foot property at 7100 Global Drive in a deal recorded May 29, according to public records. The purchase price was $5.3 million.

The seller was an affiliate of FBL Financial Services Inc. Doug Butcher, a first vice president and industrial broker with CBRE/Louisville, represented SparrowHawk in the transaction.
He said the firm’s principal, Alfredo Gutierrez, has “become a fan of this market.”

SparrowHawk purchased two warehouses in Jeffersontown’s Bluegrass Commerce Park late last year. Butcher said Gutierrez has tapped CBRE to find a tenant for the Riverport building, and it already is getting some interest. The broker said he expects demand for the space to be fairly strong because of Riverport’s declining vacancy rate.

The former Circuit City warehouse is the largest block of available industrial space in the southwest Jefferson County business park, according to Butcher. Circuit City closed two large distribution centers at Riverport prior to filing for bankruptcy protection. The chain of electronics stores closed in 2009. Jefferson Riverport International is located in Louisville, Kentucky.