Stonemont Financial Group, a private real estate investment firm specializing in industrial development and net lease assets, announced today the completion of construction on three high-profile distribution centers in Metro Dallas while simultaneously unveiling plans for three additional Class A speculative buildings set to get underway in the coming weeks. Totaling 1.1 million square feet, the six buildings reflect accelerated growth and activity for Stonemont in the DFW Metroplex and coincide with the opening of the firm’s new Dallas office.
Stonemont and its development partners successfully delivered a new 202,000-square-foot state-of-the-art last-mile distribution center for a large e-commerce user at the intersection of Airport Drive and Industrial Boulevard in McKinney. The build-to-suit project will allow the user to improve efficiency and delivery services for a wide swath of the northern Metroplex and is expected to spur job creation and additional economic development opportunities in the surrounding area.
Stonemont also expects to complete their second project in McKinney, Texas, McKinney Airport Center (MAC), by the end of June 2021, which features two speculative industrial buildings totaling 107,300 and 123,885 square feet, respectively. The development can accommodate a broad array of users ranging from 6,000 to full building occupancy, helping to address an existing market void for facilities that offer smaller and more flexible footprints with dock-high delivery doors and walk-in pedestrian office space. Located at the intersection of Harry McKillop Boulevard and Airport Drive, MAC offers direct access to McKinney National Airport and features multiple suites, 24 dock doors, 28’-30’ clear height with wide bays, and over 230 parking spaces. MAC has finalized its first tenant, InovaAir, at 13,987 square feet and has signed a 51,000-square-foot lease with an environmentally focused film, bag and resin manufacturer. Stonemont is also currently in negotiation for 66,000 additional square feet with another prospective tenant at the center. Click to read more at www.ajot.com.