(Read more on the industrial market.)

RICHWOOD, KY-GSI Commerce Inc. has opened a 540,000-sf new fulfillment center here in IDI’s Park South industrial park. The new building, with an estimated cost of about $23 million by IDI, expands the firm’s total capacity to two million sf of fulfillment space, with buildings in Louisville, KY and Shepherdsville, KY.

A spokesman for the company tells GlobeSt.com that the firm hopes to be operating out of the full facility by the first half of the year. The company not only packages, stores and ships, but also offers other work such as gift cards and wrapping, and product customization, such as the personalization of 100,000 NFL jerseys during the 2006 football season. “Our company continues to grow and add partners,” the spokesman says.

The company has located in a strong industrial market, says Karen Finan, SVP with Northern Kentucky Tri-ED, the region’s economic development entity. “This is highly automated facility, that really fits in with the advanced manufacturing in the area.” The lease rate for the facility was not released. The average lease rate for the area is $3.14 per sf, according to a second quarter Grubb & Ellis market report.

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