A local commercial real estate company has purchased an East End retail and restaurant complex in a $3.6 million deal.
Block Ventures recently completed the deal, purchasing the complex at 101 Whittington Parkway, near Hurstbourne Lane and Shelbyville Road. The development is home to Del Frisco’s steakhouse as well as fitness center Shred 415. Block Ventures both represented and partnered with an ownership group to purchase the 14,000-square-foot site, said Will Bockoven, principal broker at the firm. That means Block Ventures is part owner of the property now, though he declined to disclose the other partners involved.
The buyer group was represented by Bockoven and Christopher Wirth, principal and managing member of Block Ventures.
In addition to Del Frisco’s and Shred 415, there’s about 3,000 square feet of available space to be leased. Bockoven said the group has been talking with prospective tenants, including a local bakery and high-end liquor store, but nothing has been finalized yet.
Bockoven said the company was interested in the property because of the work done by the previous owners, as well as the revitalization of the area. The property was formerly owned by Viking Partners Hurstbourne LLC. Bockoven said the company’s work on the property brought a resurgence of energy to the area and made them want to make a long-term investment.
“The previous owners… did a marvelous job with redeveloping the corner of Shelbyville Road and Hurstbourne,” Bockoven said.
The property will most likely not need any updates. Bockoven said Del Frisco’s recently renovated its patio space and some of the concrete flatwork surrounding the building. If there is any work to be done, he said they may add more additional advertising to the site.
Block Ventures is a small real estate brokerage firm that focuses on investment properties. The full-service company partners with clients to purchase and manage properties around Louisville and other cities in Kentucky. With this new property, Block Ventures has completed about half a dozen purchases since last year, including a $4.5 million deal at 5023 Mud Lane, a $3.4 million deal at 3830 Ruckriegel Parkway in J-town, and a $2.6 million deal in Lexington, Kentucky.
