Louisville Logistics Center
Industrial (Class A cross-dock distribution) property in Shepherdsville, KY — sponsored by JLL Exchange (JLLX)
Files with the SEC as JLLX Louisville Logistics Center, DST
Minimum investment
$75k
Offering size
$88.2M
How much has sold
100.0%
Asset type
Industrial (Class A cross-dock distribution) property
Location
Shepherdsville, KY
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
JLLX Louisville Logistics Center, DST is a Delaware statutory trust — a structure that lets 1031 exchange investors hold fractional interests in a single property. It owns a Class A cross-dock distribution center built in 2022 in the South Louisville, Kentucky industrial submarket, leased to UPS Supply Chain Solutions through 2032.1 JLL Exchange announced the Trust fully subscribed on December 5, 2023, so it is closed to new investors.2
100% leased to UPS Supply Chain thru 2032, 2% esc, 2x10yr opts; built 2022, 40ft clear; JLLIPT paid ~$82M 4/2023
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Built in 2022 with 40-foot clear heights, the building is a Class A cross-dock distribution center serving the South Louisville industrial submarket.1 JLL Income Property Trust, the sponsor's affiliated fund, announced on April 25, 2023 that it had acquired the property for approximately $82 million; interests were then offered to exchange investors through the Trust.1 Reviewed sources do not establish a street address.
- Reported location
- Shepherdsville, KY
- Property size
- 1,043,000 SF
Who is the tenant, and what's the lease?
UPS Supply Chain Solutions occupies the building under a lease running through 2032, with 2% annual rent escalations and two 10-year renewal options that the tenant, not the Trust, decides whether to exercise.1 The sponsor states the tenant invested significant capital in equipment and technology customized to its operations there.1
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
100.0% reported sold
- Amount sold
- $88,165,296
- Still available
- $6,762
- Investors reported
- 84
- Total offering
- $88,172,058
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How is it financed, and what does it pay?
Leveraged means mortgage debt sits alongside investor equity, so loan terms shape cash flow as much as rent does. JLL Income Property Trust announced on June 3, 2026 that it had closed a $49 million mortgage secured by the property; the reviewed sources name no lender and do not identify the Trust itself as borrower.4
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
JLL Exchange is the 1031 exchange platform affiliated with JLL Income Property Trust. The initial Form D — the brief notice an issuer files with the SEC for a private offering — names JLL Exchange TRS, LLC as promoter and sponsor of the issuer.3 The affiliated fund bought the building first, and fractional interests reached exchange investors afterward through this Trust.1 JLL Exchange announced the offering fully subscribed on December 5, 2023.2
- Sponsor
- JLL Exchange (JLLX)
- Legal Trust name
- JLLX Louisville Logistics Center, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 6 active / 20 total offerings from JLL Exchange (JLLX)
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Interests were placed privately rather than publicly advertised, which limits purchasers to accredited investors — those meeting SEC income or net-worth tests — with whom the sponsor already had a relationship. Each amendment after the initial notice updated the reported amount sold and investor count rather than the offering size.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 6
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Louisville Logistics Center still raising money?
Top1031 lists Louisville Logistics Center as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Louisville Logistics Center?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in this Trust?
No. JLL Exchange announced on December 5, 2023 that JLL Income Property Trust had fully subscribed this $88 million Louisville industrial Delaware statutory trust, and it is closed to new investors. The most recent Form D amendment on record was filed September 12, 2025.
Who occupies the building?
UPS Supply Chain Solutions. JLL Income Property Trust's April 25, 2023 acquisition announcement describes a lease running through 2032 with 2% annual rent escalations and two 10-year renewal options exercisable by the tenant, and says the tenant invested significant capital in equipment and technology customized for its operations at the property.
Is there a mortgage on the property?
Yes. The Trust is recorded as leveraged, and JLL Income Property Trust announced on June 3, 2026 that it closed a $49 million loan secured by Louisville Logistics Center with a five-year term and a 5.28% interest rate. The reviewed sources do not name the lender and do not identify the DST as the direct borrower.
Where exactly is the property?
SEC filing and enrichment data place it in Shepherdsville, Kentucky, which the sponsor describes as the South Louisville industrial submarket. Web research completed September 1, 2026 did not establish the exact street address; the private placement memorandum (PPM) and county deed records carry the legal description.
Can this convert into REIT shares through a 721/UPREIT exchange?
The record for this Trust shows no 721/UPREIT feature — that is, no stated path to swap the property interest for operating-partnership units in a REIT. Any exit mechanics would need to be confirmed in the private placement memorandum and the trust agreement.
Who is behind the offering?
JLL Exchange, the 1031 exchange platform affiliated with JLL Income Property Trust. The initial SEC Form D for this Trust identifies JLL Exchange TRS, LLC as promoter and sponsor of the issuer, and the affiliated fund acquired the building before interests were offered to exchange investors.
Chapter 9Industrial Acquisition of the Week: LaSalle Acquires Louisville-Area Bullitt II Logistics Center for $50MLaSalle acquired Bullitt II Logistics Center, a 437,000-square-foot industrial warehouse in Shepherdsville, Kentucky, for approximately $50 million, reflecting market activity in the Louisville-area industrial sector where the Louisville Logistics Center is located. JLL Income Property Trust Closes Financing on Louisville Industrial FacilityJLL Income Property Trust secured a $49 million loan on the Louisville Logistics Center property, which features significant custom equipment and technology enhancements by the tenant (UPS Supply Chain Solutions).