Estes said they are hoping to break ground on the park by February 2023, adding that he anticipates construction to last for the following 12 to 14 months.
MURFREESBORO, Tenn. (WKRN) — Interstate 840 is not just popular for cars and trucks, but it’s also an attractive selling point for new developments.
“The I-840 corridor is one of the busiest logistic corridors up and down the Nashville market,” said Dusten Estes.
Just off the interstate on Sulphur Springs Road is where a brand new 157-acre industrial park will now sit.
“Rutherford County has really backed us, (and) really supported us knowing that we’re bringing what we believe is a really solid site plan,” said Estes.
Estes is the senior vice president with Stonemont Financial Group, the developers behind this new project.
The industrial park will include around 1.4 million square feet of space able to house hundreds of auto parking and trailer stalls while also accommodating smaller tenants.
“We have a lot of repeat clients, (and) repeat tenants Stonemont has worked with over our history and a lot of them needed space in Nashville,” said Estes.
Rutherford County is turning into an area that’s attracting lots of businesses and developments.
“We’re in an area where people want to move,” said Patrick Cammack. “People want to work, businesses want to invest in.”
Cammack, the senior vice president of economic development for the Rutherford County Chamber of Commerce, said the county has over 4 million square feet of land attractive to industrial developers located close to the area’s major interstates.
“They want to be able to be in a place that’s available for their workforce so they can attract many people and as many qualified people to come work there,” said Cammack.
Cammack said having industrial facilities like Nissan already here also helps attract that type of development to the area.
According to Estes, they already have multiple projects across the greater Nashville area and can see more coming as the area continues to grow.
The industrial park is expected to generate around 1,000 jobs for the county.
Stonemont Financial Group specializes in investing across a broad spectrum of real estate asset classes and geographies to deliver attractive risk-adjusted returns. Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts and high net-worth individuals. The firm’s founders and managing principals have a combined track record of more than 60 years’ experience and $20 billion invested.