Calling developers and investors: Independent bottler Coca-Cola Bottling Co. Consolidated is auctioning off a former bottling facility and distribution center.
The 13-acre industrial property sits on the edge of a commercial and industrial area within the Park Hill neighborhood, with single-family homes just across the street to the west of the facility. The revitalization of the large site could be a coup for the neighborhood, which has struggled to attract economic development investment.
The company is asking a minimum of $599,000 for the property, located at 1661 W. Hill St. The sale does not include the security systems and equipment, according to the listing on online auction site FRE.com.
The property was last assessed at $2.8 million, according to Jefferson County property records.
The auction is ongoing, with the deadline to submit bids by 5 p.m. Sept. 21. A few bidders already have signed up, according to Gant Hill, owner of Gant Hill & Associates, who is representing the owner in the sale.
“We know the market is ripe for this kind of space, this kind of property,” Hill said, noting that it is located near other manufacturing and industrial businesses and is in an area where there are resident who need jobs.
The buyer, Hill added, could seek possible incentives from the Louisville-Jefferson County Metro Government, which has placed a strong focus on bringing economic development to West Louisville.
“It’s just a great opportunity across the board,” he said. “You can buy this thing for dollars per square foot.”
The property includes a total of 318,000 square feet split among three buildings, which were constructed and altered from 1947 to 1979. The majority of the buildings include warehouse and manufacturing space, but they also include drive-in truck bays and art deco-style office space. The site features roughly 200 usable parking spaces.
In an August 2017 news release, Coca-Cola Bottling Co. Consolidated pointed to Louisville as an prime example of the company’s continued growth strategy.
The company bought the Louisville bottling operations, which included the Park Hill site, in February 2015; that was part of a larger effort by Atlanta-based The Coca-Cola Co. — the company that actually owns and makes the fizzy drink — to refranchise its North American bottling operations.
Rather than continue operations on Hill Street however, Coca-Cola Bottling Co. Consolidated invested $12 million to renovate a vacant warehouse in Jefferson Riverport International business park in Southwest Louisville and move its 350 employees into the new facility. The new site distributes Coca-Cola products to 21 counties in the Kentuckiana region.