Exeter Property Group purchased five-buildings, 582,541-square-feet, of SparrowHawk Real Estate Strategists Bluegrass Industrial Portfolio for $31.9 million in Louisville, Kentucky.

According to company officials, the site is fully occupied to a diverse roster of credit tenants in industries ranging from retail to technology. The buildings range from 71,340 square feet to 190,000 square feet and have recently undergone capital improvements including re-paved parking lots, new roofs on four of the buildings, upgraded lighting and HVAC replacement.

Alfredo Gutierrez, SparrowHawk's Founder said, "We are pleased to have concluded the sale of Bluegrass Industrial portfolio to Exeter Property Group. This sale reinforces our belief in the strength and stability of the Louisville market with its centralized location to reliable transportation, proximity to logistical infrastructure and significant employment bases."

The portfolio is split between the Airport and East submarkets, both of which benefit from the five interstates that converge within Louisville's city limits, officials said. Both submarkets also allow for easy access to Louisville International Airport.