Stonemont JV Completes Central Florida Logistics Center

Topline Logistics Center. Image courtesy of Frampton Construction Co.

The joint venture of Stonemont Financial Group and US Capital Development has completed work on Topline Logistics Center, a 456,540-square-foot speculative industrial building in Ocala, Fla. The partnership financed the project’s construction with a $29 million loan from Ameris Bank, CommercialEdge data shows.

Built by Frampton Construction Co., Topline Logistics Center broke ground on a 35-acre site in March 2022. The development team also included Tillman and Associates, which provided civil engineering services; Alper Audi served as structural engineer and HAD Architects completed the building’s design.

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Having more than $2 billion in assets under management, Stonemont is also involved in various developments across the U.S. Last month, one of the firm’s projects, a 1.3 million-square-foot industrial park in Summerville, S.C., reached an important milestone.

In December, Stonemont announced another major industrial project, a 1.4 million-square-foot campus in Murfreesboro, Tenn. Completion is expected in the first quarter of 2024.

A North Central Florida industrial asset

Topline Logistics Center is a Class A, cross-dock facility featuring 36-foot clear heights, 96 dock doors, four drive-in doors and 110 trailer parking spaces. The building also includes storefront office space located in three of its four corners.

Located at 3341 NW 21st St., the property is 35 miles from Gainesville in the North Central Florida market, having immediate access to Interstate 75. Companies in the surrounding area include Amazon, FedEx, Cone Distributing and Chewy, among others.

According to CommercialEdge data, North Central Florida had five industrial properties under construction as of April, totaling approximately 6.5 million square feet. The largest development is a 2.8 million-square-foot warehouse built for Amazon in Daytona Beach, Fla.

A total of 25 properties were in the planned and prospective stages in the region; when complete, they will add 12.9 million square feet of industrial space to the existing inventory.