A fast-growing electrical contractor in Louisville has moved its operations to a new East End building.
Excel Services Inc. purchased the former Green Bull | Warner U.S. building, according to a release from Horizon Commercial Realty. The approximately 89,000-square-foot building is located on 11 acres at 11225 Bluegrass Pkwy in the Bluegrass Commerce Park.
It will be used for Excel Services’ new headquarters. According to the deed, the building was sold for $5.8 million. The seller was GB Partners LLC, managed by John Hollenbach, managing partner at Horizon Commercial Realty and Hollenbach-Oakley. Steve Lennon, sales and leasing advisor at Horizon Commercial Realty, was the agent on the deal.
The deed shows the deal closed Dec. 1. Brian Waltrip, president of Excel Services, said in a phone call Friday the company actually moved into the property in May. It provides spaces for office and warehouse employees.
The location in the Bluegrass Commerce Park was ideal for the company, Waltrip said. The previous office was in the Eastpoint Business Park at 2301 Nelson Miller Pkwy. He said the central location and proximity to I-265, I-64 and Southern Indiana was a plus.
“Overall, the lay of the land in Bluegrass (Commerce Park) lends itself much more to way we operate,” Waltrip said.
The building did undergo a renovation, which is now substantially completed. Waltrip said the office was remodeled and expanded, and the warehouse received upgrades in heating and air. The parking lot, landscaping and exterior façade also underwent a revamping. He said in total, it was about a $1.5 million investment.
There are about 30 employees at that location, while he said the company employs nearly 140 people company wide. Excel Services was featured at number nine on LBF’s Largest Telecommunications Companies list. The firm has been on our Fast 50 list in the past as well.
Waltrip said Excel Services is anticipating growth in the next five to ten years, and the new location will be better suited to meet the company’s needs when that occurs. The new property has nearly double the square footage and three times the land size as the previous one.
“We anticipate five-year and ten-year profit margins for growth,” Waltrip said. “This enables us to grow within those points.”