July 7, 2021 Atlanta developer is expanding It’s D-FW footprint with new industrial projects
An Atlanta-based developer and investor is ramping up its activity in North Texas with a series of new industrial projects.
Stonemont Financial Group plans three speculative industrial building developments in the Dallas-Fort Worth area. The company just completed three warehouse buildings here.
Altogether, the projects total more than 1 million square feet.
Stonemont is even opening a new Dallas office to handle its increased activity in the area.
“Dallas-Fort Worth has clearly emerged as one of the nation’s top industrial markets, and the opening of our new office along with all of the various project milestones we are announcing today signal Stonemont’s intention to make the Metroplex a key cog in our overall national network,” Zack Markwell, managing principal and CEO at Stonemont Financial Group, said in a statement. “We anticipate a busy year ahead as we continue to grow at an accelerated pace across the D-FW region.”
The developer plans to build three projects in Fort Worth, including a 213,000-square-foot industrial building that will be constructed on FM156 near Chaplin Drive in Fort Worth. The building is set to open in March 2022.
Stonemont also plans to build two speculative warehouses totaling 486,000 square feet at Golden Triangle and Harmon Road in Fort Worth. Those projects will open in May.
Stonemont just completed two projects north of Dallas in McKinney. The developer delivered a 202,000-square-foot distribution center at Airport Drive and Industrial Boulevard in McKinney. The property has been leased to e-commerce giant Amazon.
And Stonemont built two warehouses in its McKinney Airport Center at Harry McKillop Boulevard and Airport Drive. Together, the airport buildings contain more than 230,000 square feet.
The North Texas projects are part of a new Stonemont venture to develop speculative industrial projects in multiple U.S. markets. The company has more than 4.5 million square feet of buildings under construction.
Josh Wheeler, senior vice president at Stonemont, is heading the Dallas office. Stonemont manages investments for a variety of clients and has over $2 billion in assets under management.
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