Massive industrial service facility coming to this corner of Staten Island: Here’s what we know

STATEN ISLAND, N.Y. — A 6.6-acre industrial service facility is being constructed in Mariners Harbor, located near Home Depot and adjacent to the Howland Hook Marine Terminal. According to the site’s developers, the facility will feature over 110 trailer parking stalls, full drive-through circulation, and office space. Construction is expected to be completed by the end of this year.

Stonemont Financial Group, an Atlanta-based private real estate investment firm specializing in industrial development, is the owner and operator of the project, which is being dubbed by its address: 2577 Forest Avenue.

“This project represents another important step in advancing Stonemont’s ISF (Industrial Service Facility) growth strategy and expanding our reach in the Northeast,” Michael Coogan, vice president of ISF at Stonemont, noted in a press release. “The NYC market offers tremendous long-term opportunity for this asset class, and 2577 Forest Avenue’s optimal location close to the terminal positions it to serve a wide range of logistics and transportation needs in one of the most supply-constrained markets in the country.”

ISF is defined as a subset of industrial outdoor storage, which Stonemont described as “a booming sector of industrial real estate.” It includes sites that feature functional service buildings in addition to stabilized fences and lit outdoor space zoned for storage. The spaces are commonly used for distribution of equipment, materials, and vehicles.

“Stonemont has continued to see a highly constrained supply of well-located ISFs across the country and has significantly grown its portfolio of ISF properties as demand for the asset class has strengthened,” the company noted.

This is Stonemont’s first project in New York City, though the firm has been highly active in the Northeast region. Recent projects include: the acquisition of a 67,000-square-foot ISF building in Logan Township, New Jersey; the completion of a 300,000-square-foot industrial warehouse in Passaic, New Jersey; and plans to build a 520,320-square-foot industrial complex within the Runyon Redevelopment Area in Old Bridge, New Jersey. Stonemont also currently owns a 10,000-square-foot ISF facility in Bay Shore, New York, on Long Island.