Cushman & Wakefield | Commercial Kentucky’s Office Services Team brokered the sale of Cobalt Marketplace at 445 E. Market St. in Louisville, Kentucky.
Sam Gray, CCIM; Brent Dolen, SIOR, CCIM; and E.P. Scherer represented the seller in this transaction. The seller is an affiliate of GBX Group which is located at 2101 Superior Avenue, Cleveland, OH 44114. Krista Yockey of Cornerstone Group represented the buyer in this transaction. The buyer is an affiliate of Cornerstone Group located at 300 Missouri Avenue, Suite 102, Jeffersonville, IN 47130.
Cobalt Marketplace is a prominent three-story office and retail building bordering Louisville’s revitalized NuLu neighborhood. It was originally constructed in 1885 and served as the home of United Furniture Co. from its inception until the late 1970s. In 1980, Schiller Hardware, a long-standing local business established in 1929, occupied the building until 1999. The property sold in the early 2000s and later was redeveloped into a modern commercial space while preserving its architectural charm.
The building continues to be a desirable location for businesses due to its prime downtown location, proximity to retail amenities, and access to major interstates. Cobalt Marketplace stands as a testament to Louisville’s commitment to urban revitalization and historic preservation. A GBX company partnered with Preservation Kentucky, Inc. to protect the property with a historic preservation easement, which is designed to permanently protect the building’s historical façade.