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Stonemont Financial

PRESS / May 17, 2022

Stonemont Bolsters Presence in Heartland with New Warehouse in West Chicago

| CityBiz

The 258,720-square-foot facility will cater to the intense demand for prime distribution space in one of the country’s most thriving industrial markets

Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, announced today that the company has closed on the land for a 258,720-square-foot industrial development in West Chicago, Illinois. Stonemont is partnering with developer Stotan Industrial to build the Class A warehouse distribution facility, slated for completion in February 2023.

The 17-acre project, called DuPage Crossings, will be located within the Fox Valley submarket just over 30 miles from the greater metropolitan Chicago area. The project will sit at the corner of Washington Street and Charles Court in West Chicago, offering immediate access to I-88 and the  surrounding affluent cities. The building will feature 36-inch clear heights, 32 exterior docks, 45 trailer parking stalls, 219 car parking spaces and will be divisible up to 130,000 square feet.

“We are pleased to continue expanding our portfolio of Class A projects across the Heartland with our newest initiative in West Chicago,” said Stonemont CEO and Managing Principal Zack Markwell. “Our firm’s goal remains to seek out high growth, versatile locations in markets close to large labor pools. Through our partnership with Stotan Industrial, I am confident that DuPage Crossings will be just what the Fox Valley area needs to serve the high volume of logistics users looking to establish a presence in the submarket.”

The greater Chicago region has proven to be one of the top industrial markets in the country with nearly 4.3 million square feet of net absorption in the first quarter of 2022 and a record low vacancy of 3.1%. The project is located in the Fox Valley submarket which boasts a vacancy rate of 1% and is proving to be one of the most competitive submarkets in the region for new development.

DuPage Crossings marks a continuation of Stonemont’s footprint across the greater Chicago region, which has been a primary target for the firm in recent years. In the last 12 months alone, Stonemont has invested over $200 million in the Chicago market and continues to seek opportunities in the region as vacancy rates remain at historic lows and the demand for industrial space continues to outpace supply.

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.