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Stonemont Financial

PRESS / April 22, 2024

Stonemont Announces Industrial Development Close to Tampa International Airport

| City Biz

Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, announced today a 100,620-square-foot industrial facility in Tampa, Florida, close to the Tampa International Airport. Stonemont and PCCP, joint venture partner in the project, will break ground next month, with expected completion in Q1 2025.

Called TIA Executive Center, the development will be located in the Tampa Airport submarket. The development will include a 100,620-square-foot industrial facility located north of the Executive Industrial Park at 6101 Johns Road in Tampa. TIA Executive Center will offer a 32-foot clear height, spec office suites and will be divisible down to around 33,000 square feet to accommodate smaller users. It conveniently sits just two miles from the Tampa International Airport and is just 10 miles from the Tampa Central Business District as well as I-275 and I-4.

“Over the past few years, we have seen firsthand the immense growth and demand for quality industrial space in the Tampa market, which has spread to surrounding submarkets as competition has tightened near the airport,” said Stonemont Vice President Avery Dorr. “At the end of the day, users of all sizes want to be in a centralized location with transportation access to the rest of the state. TIA Executive Center offers just this, in an area where land is becoming harder to come by. We have full confidence in Tampa and the success that this premier project will see once lease-up begins.”

The Tampa Airport submarket is one of the most competitive and in-demand industrial markets in Florida, with low land availability due to the area’s high density. In Q1 of this year, the Tampa market saw vacancy at 4.7%, which was the 17th consecutive quarter with vacancy below 5%, according to a report from JLL.

Stonemont has heavily invested in Tampa and surrounding markets due to the rapid leasing activity and high demand it has seen from a range of user types and sizes that desire to be close to the Tampa International Airport. Recently, Stonemont delivered 361,000 square feet across two buildings, known as the Sunlake Business Center in North Tampa and will soon deliver 905,440 square feet across four buildings in Lakeland.

Additional project partners for TIA Executive Center include Frampton Construction as the general contractor, Harley Commercial Architecture as the architect and Kimley-Horn as the engineer. JLL will handle leasing.

Stonemont remains bullish on Florida as one of the top industrial markets in the country, and has expanded its footprint in the state over recent years, including recently opening a regional office located just 6.5 miles from the TIA Executive Center site. The firm currently has over 1.5 million square feet of development under construction in Groveland, a 457,000-square-foot facility under construction in Ocala and a 259,255-square-foot warehouse that recently broke ground in Ocoee. Stonemont also recently delivered a 1.3-million-square-foot industrial development in Fort Pierce.

For more information on Stonemont and its initiatives, click here.

About Stonemont Financial Group
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.