After developing a portfolio of flex industrial space over nearly three decades in Lexington, Kentucky, its owner wanted to identify a buyer who would maintain local control and an emphasis on tenant stewardship.
Ron Turner found what he was looking for in Equity Management Group, which like his company is based in Lexington. The latter bought Turner’s property, spread over about 31 acres and 314,533 square feet of space, for $48.3 million late last year. Most of the buildings are on Fortune Drive, close to the strategic intersection of interstates 64 and 75. Block and Lot Real Estate, also based in Lexington, represented Turner Property in the sale.
The deal was one of the region’s most significant flex and light-industrial sales of the year, which earned a 2026 CoStar Impact Award, as judged by the local real estate professionals who know the market.
Among the tenants in the portfolio are Stanley Steemer, Lamar Advertising, security services firm ADT, Bullard, which makes personal protective equipment and business services firm Conduent.
Besides being locally based, Equity was an attractive buyer to Turner because it has an in-house property management team. Equity's portfolio includes numerous shopping centers in Kentucky and a few in other states, according to its website.
What the judges said: “The sale of the Turner portfolio at a strong per-square-foot price exemplified the continued demand for quality industrial flex space in the Lexington market,” said John P. Miller, assistant vice president at Lexington-based commercial real estate brokerage and property management firm NAI Isaac.
They made it happen: Amy Mellinger, partner, and Lucas Witt, Audrey Grace Hacker and Mac McLean, agents at Block and Lot Real Estate represented Turner Properties in the sale. Jason Taylor, vice president at Equity Management Group represented the buyer.