Yes, in fact, lots of the area that is warehouses to the south, and where the larger run way to the east and some buffer zone to the east used to be neighborhoods and they were bought and torn down to make room around the airport.

https://www.reddit.com/r/Louisville/comments/1983ko2/what_ha...

A lot of the airport's surrounding buildings (to the South especially) are indeed UPS Airlines' own facilities.