Stonemont Financial Group Unveils Massive 1.3M SF Industrial Center in South Florida

Stonemont Financial Group recently unveiled its latest project, the South Florida Logistics Center 95, located in Fort Pierce, Florida. This expansive industrial complex comprises two buildings totaling 1.3 million square feet. Positioned strategically at the intersection of South Kings Highway and Orange Avenue, the center enjoys close proximity to an I-95 interchange, making it ideal for logistics operations. Stonemont emphasizes that the design of the center caters specifically to the needs of e-commerce and third-party logistics (3PL) businesses.

Building Features

Building 1 stands out as a mammoth cross-dock facility spanning 1.1 million square feet, boasting 40-foot clear heights. Notably, it claims the title of Southeast Florida's largest speculative building. On the other hand, Building 2 offers a 245,000-square-foot rear-load facility with 32-foot clear heights. Sky Groden of JLL Fort Lauderdale oversees leasing for the project, facilitating tenant acquisition.

Partnerships and Ongoing Developments

Stonemont collaborates with key partners to bring South Florida Logistics Center 95 to fruition. Evans General Contractors serves as the project's general contractor, with Ware Malcomb as the architect and Engineering Design & Construction Inc. as the civil engineer. Additionally, Stonemont reveals its involvement in multiple other construction projects across Florida, indicating a robust portfolio of industrial developments underway.

Industry Insights

The industrial real estate market in South Florida demonstrates resilience and growth, evidenced by a modest increase in vacancy rates and a significant uptick in average rental prices. The region closed the previous year with a 3.1 percent industrial vacancy rate, up slightly from the previous year. Notably, average asking rents surged from $14.32 per square foot triple-net to $17.15 per square foot year-over-year, reflecting strong rent growth.

Expanding Footprint

Beyond South Florida, Stonemont extends its reach to other regions, showcasing its commitment to expansion and diversification. In collaboration with The Davis Cos., Stonemont completed two industrial buildings totaling 2.7 million square feet in Georgia International Trade Center in Rincon, Georgia. Additionally, Stonemont recently delivered Lakeshore Corporate Park in Kannapolis, North Carolina, a three-building Class A industrial campus totaling 702,250 square feet, developed in partnership with Fortius Capital Partners.