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Stonemont Financial

PRESS / June 12, 2024

Stonemont Financial Group Breaks Ground on 903K SF Industrial Park in Locust Grove, GA

| City Biz

Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, and joint-venture partner Compatriot Capital, Inc. have broken ground on Stonemont Park 75 South, a 903,701-square-foot, Class-A industrial park in Locust Grove, Georgia. Principal Real Estate Investors provided construction financing for the development, which is expected to be delivered by Summer 2025. Stonemont Park 75 South is the only three-building, single-phase industrial park to break ground in the Atlanta market this quarter.

“Stonemont is pleased to officially start construction on this project, which is one of the largest-scale initiatives to break ground this quarter in Atlanta following a slowing of new groundbreakings in the market,” said Neal Moskowitz, principal at Stonemont. “We have enjoyed working closely with officials from both Locust Grove and Henry County to get this project off the ground, and would like to thank the Henry County Water Authority and Development Authority for working to bring utilities under I-75 to our site, which gave us the green light to move forward. We look forward to welcoming future users to our Class-A industrial park in the near future.”

Stonemont Park 75 South will include three rear-load speculative warehouses totaling 124,945 square feet, 239,837 square feet and 538,919 square feet. The buildings will be designed to fit the latest Class-A leading modern warehouse standards, with clear heights varying from 32 feet to 40 feet and a total of 315 trailer parking stalls and 587 car parking stalls. While it will be tailored to accommodate any type of user, the project is set to fill a void in the market for Class-A product offering flexibility in leasing size.

There has been a decline in industrial construction starts in the greater Atlanta market In Q1 of this year, construction starts continued to slow with only four projects breaking ground and 23.4 million square feet of industrial space under construction, according to a report from JLL.

“We are excited about Stonemont’s new development in our community as we continue to see a surge of advanced manufacturing and supply chain demand,” said Josh Fenn, executive director of Henry County Development Authority. “We are looking forward to having Stonemont as part of our community, and the success of our partnership bringing in more jobs and investment to Henry County and Locust Grove.”

Ware Malcomb will serve as architect on the project, with Eberly and Associates serving as civil engineer and Alston Construction as general contractor. Bilijack Bell and Joseph Rogers of Wilson Hull & Neal will handle leasing for the project.

Stonemont remains active across Georgia with over 2 million square feet of development recently completed or under construction around the state. Most notably, the firm delivered a 236,000-square-foot, four-building industrial park in Chamblee, Georgia and a 733,200-square-foot warehouse at Georgia International Trade Center in Effingham County, Georgia. Stonemont also recently completed a 234,000-square-foot spec facility in Braselton, Georgia.

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, specializing in industrial, net lease, and healthcare real estate. 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. With a combined track record of over 60 years of experience and $20 billion invested, Stonemont’s founders and managing principals are committed to delivering attractive risk adjusted returns.