Stonemont Commerce Park 840. Picture courtesy of Stonemont Monetary Group
Stonemont Monetary Group is one step nearer to the groundbreaking of Stonemont Commerce Park 840, a two-building, 1.4 million-square-foot industrial park in Murfreesboro, Tenn. The developer intends to begin development on the undertaking within the first quarter of 2023, with completion anticipated within the first quarter of 2024.
The event workforce additionally consists of Frampton Development as normal contractor, whereas Website Engineering Consultants Inc. will function civil engineer. Lee & Associates will present leasing and brokerage providers for the undertaking.
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Stonemont Commerce Park 840 will take form on 157 acres at 4543 Sulphur Springs Highway. Upon completion, the campus will comprise a 1.2 million-square-foot constructing with 40-foot clear heights and a smaller, 273,000-square-foot facility with 36-foot clear heights. The property is about to function greater than 830 parking areas.
Located alongside Interstate 840 and inside 4 miles of Interstate 24, the event web site is 35 miles from downtown Nashville and the town’s worldwide airport.
Stonemont stays the course
With a portfolio totaling 25.2 million sq. toes, Stonemont continues to be an lively industrial investor in almost each dateline market within the U.S, with 4 latest acquisitions in Columbus, Ohio, Denver and Chicago, in accordance with CommercialEdge knowledge.
Moreover, the agency has been pursuing its improvement endeavors, notably within the South and Midwest. In August, Stonemont broke floor on Castings Commerce Park, a three-building, Class A industrial park in Columbus. One other undertaking, that Stonemont began in March, is Westinghouse35, a 230,000-square-foot speculative improvement in Georgetown, Texas.
Nashville’s industrial profile
Nashville’s emergence as an e-commerce-based delivery and logistics nexus has led to surging demand and excessive common rents. With a emptiness fee of 1.4 % as of October, alongside area’s highest year-to-date gross sales worth per sq. foot of $152, the capital of The Volunteer State stays one of many strongest-performing industrial markets within the South, in relative comparability to nationwide leaders reminiscent of Dallas and Houston, knowledge from a latest CommercialEdge report exhibits.
