Stonemont sells 1.3 million SF of warehouse space in the Charleston MSA

Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, announced today that it has sold three buildings at the Omni Industrial Campus, a 221-acre business park in Summerville, South Carolina outside of Charleston. The three buildings recently delivered after breaking ground in Fall 2021.

Omni Industrial Campus is a Class A, 221-acre business park located along Omni Industrial Boulevard in Charleston’s I-26 distribution corridor. A 360,000-square-foot, build-to-suit facility at the park was leased to a vitamin and supplement manufacturer. Stonemont also leased a 606,880-square-foot facility and sold another 364,700-square-foot spec warehouse at the property to an undisclosed buyer.

The project marked the first venture into the Charleston market for Stonemont, which worked alongside co-developer Clarius Partners.

“This project is a testament to our firm’s ability to swiftly close a deal with multiple parties involved, and was made possible by the indispensable relationships we’ve built with Clarius Partners, Samet Corporation, Bridge Commercial, JLL and our other strategic partners,” said Stonemont Vice President Avery Dorr. “Our success with projects in Savannah provided a winning blueprint for our Charleston endeavors, as prime industrial product close to major ports is still in high demand for users of all types. We are pleased to deliver these state-of-the-art facilities as leasing interest continues to be at an all-time high and look forward to expanding our footprint across the Lowcountry.”

The Charleston MSA continues to see record interest from industrial users due to its rapidly growing population, low cost of business, strong labor pool and proximity to the Port of Charleston. The Jedburg-Ridgeville-Summerville submarket is a top player in the greater Charleston industrial development scene, as it is less constrained by coastal waterways and is in close proximity to several major highways. The Port of Charleston is the eighth largest in the nation, and handled nearly 2.6 million twenty-foot equivalent units and 1.4 million pier containers in fiscal year 2023, according to the South Carolina Ports Authority.

Stonepeak Partners is the capital partner on the project, with Samet Corporation serving as general contractor.