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Louisville Business First
Flying Axes closing in NuLu —what could replace it
Flying Axes in NuLu is closing, and we now have an idea of what might replace it — though nothing is finalized.<\p> Here's what's out there: Plans were filed with Louisville Metro Government for a fire suppression system for Whiskey Thief, a Frankfort, Kentucky-based distillery owned by Louisville entrepreneur Walter Zausch at 610 Nanny Goat Strut. <\p>
Local CRE firm adds 1.8M-s.f. to roster
TRIO Commercial Property Group announced it was awarded a 1.8-million-square-foot industrial portfolio for leasing and management services. <\p> The assignment from Weston Inc. encompasses five prominent Louisville properties, the bulk of which are industrial, office and flex space, according to a news release. <\p>
Here's when rec weed sales will start in Ohio
The first legal recreational marijuana sales in the Greater Cincinnati area — about a 90-minute drive from Louisville — could be just weeks away.<\p> Courtney Pavlak is the regional operations manager for local medical marijuana company UpLift, which has two locations in Milford and Mount Orab.<\p>
Fifth Third names local exec
Fifth Third Bank (Nasdaq: FITBI) has appointed a new executive tasked with handling high-net-worth and ultra-high-net-worth clients in Kentucky and Southern Indiana. <\p> According to a release, the Cincinnati-based bank named Nick Phelps managing director of its private banking division for the region Tuesday. Phelps, a native of Goshen, Kentucky, joined Fifth Third in 2021 as senior vice president and commercial team lead, focusing on business development efforts across Louisville and Kentucky. <\p>
Bourbon booms, but China's king
Kentucky-based brands in the bourbon/whiskey industry are always looking for ways to to increase their global reach, especially in emerging countries. <\p> Recently, Kantar Group — a London-based international market research firm — released its Kantar BrandZ Most Valuable Global Brands annual report for 2024, where it lists the top 100 most influential global brands and their approximate monetary value. <\p>
The recommended wage to afford Louisville rent
A person in Kentucky or Indiana would need to work at least three full-time, minimum wage jobs to comfortably afford to rent a two bedroom home. <\p> According to the National Low Income Housing Coalition's "Out of Reach" study, in no state, metropolitan area, or county in the U.S. can a full-time worker earning the federal minimum wage ($7.25 per hour) afford a two-bedroom rental home at a fair market price. <\p>
Leaders react to skyscraper news
Bourbonism, horse racing, music festivals: there’s no shortage of reasons for tourists to visit Derby City.<\p> What Louisville is in short supply of, according to Louisville Tourism President and CEO Cleo Battle, is hotel rooms to accommodate those tourists.<\p>
Ali Center names new CEO
The Muhammad Ali Center named DeVone Holt president and CEO Tuesday following a rigorous four-month national search.<\p> The center announced in a release that Holt will take the reins of the nonprofit following a five-year stint as chief external affairs officer at Goodwill Industries of Kentucky. He replaces Marilyn Jackson, who left the Ali Center in February to lead the American Alliance of Museums. She was one of LBF's 2023 Most Admired CEOs honorees.<\p>
Short-term rental experts launch home makeover service
The former owners of a short-term rental management company have launched a new one-stop shop for homeowners preparing their homes to be put on the market.<\p> Key Source Home Enhancements is a new concierge service owned by Justin Reid and his husband, realtor Jonathan Klunk. It offers everything from handyman services to bathroom and kitchen renovations.<\p>
Air Hydro Power makes acquisition
Louisville-based Air Hydro Power LLC has acquired the assets of Louisville-based Baker Bohnert LLC for an undisclosed amount, as of July 1, according to a news release.<\p> Air Hydro Power is an industrial distributor serving Kentucky, Southern Indiana, Alabama, Florida, Mississippi, West Virginia and southeastern Ohio and specializing in hydraulics, pneumatics, electrical automation, hose and fittings, electrical motors and pumps. Baker Bohnert has over 76 years of experience in the industrial distribution sector and is a market leader in the expansion joint manufacturing for the power industry, the release said.<\p>
Highlands bar closes amid ABC investigation
A Highlands bar at the center of an Alcoholic Beverage Control investigation has permanently closed. <\p> Afrokanza Lounge announced the closure on its Instagram page Monday, weeks after it and neighboring bar and restaurant Cafe 360 came under intense media scrutiny for a series of issues dating back to January. <\p>
KY firm rebrands
For years, Lexington, Kentucky-based EZ Turn has been making a name for itself as a market leader in the student housing industry. <\p> Now with the help of a new offering and a rebranding campaign, the company has jumped into the multifamily rental property space under the name of EZOS. <\p>
Nonprofit launches fund
The Community Foundation of Louisville (CFL) has launched a new investment fund that will allow donors to invest directly in projects in the form of loans, debt guarantees, lines of credit and even equity investments.<\p> Ramona Dallum, CFL’s senior vice president of Community Leadership, said Invest Louisville is an opportunity for funders to move beyond grants to give entrepreneurs, organizations and businesses access to high-impact capital that could later be recirculated in the community as loans are repaid.<\p>
20 People to Know in advertising, PR and marketing
Amazon founder Jeff Bezos once famously said that “your brand is what other people say about you when you’re not in the room.”<\p> That sentiment has been widely quoted across the internet over the years. But I must admit that I'm still trying to figure out what it actually means. <\p>
Data-center debate: Booming CRE sector grapples with big questions
The proliferation of data centers across America is helping to power the nation's increasingly digital economy — but for some, it's coming at too high, or too unknown, of a cost.<\p> The data-center boom isn't new, but the rate at which these projects are being planned, proposed and built is quickly escalating. And while data centers once were concentrated in a few key markets, they're now fanning out to metro areas all over the country.<\p>
New wine bar opening
A new wine bar and café is coming to La Grange, Kentucky later this summer.<\p> Madeline’s Nibbles & Wine will be located at 111 N. First Ave. in downtown La Grange. The nearly 1,800 square foot property was previously occupied by La Vigne Wine Bar, which closed in March.<\p>
Small-business grants you can apply for this month
Small-business owners might be more confident about their future, but they are still worried about inflation.<\p> That’s the big takeaway from the U.S. Chamber of Commerce's Small Business Index, conducted in partnership with MetLife, which hit the highest level of optimism since early 2020, with about 73% of business owners expecting their revenue to grow in the next year. <\p>
Bourbon brand opens tasting room
The brand might sound relatively new, but it’s not. <\p> All one has to do is look at the name of the tasting room that the brand is opening in Downtown Bardstown. The name is Circa 1856, paying homage to the year when the brand, Chicken Cock Whiskey, was first established in Paris, Kentucky, northeast of Lexington. <\p>
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