Stonemont to Build 1.4 MSF Nashville Industrial Park

Stonemont Commerce Park 840. Image courtesy of Stonemont Financial Group

Stonemont Financial Group is one step closer 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 start construction on the project in the first quarter of 2023, with completion expected in the first quarter of 2024.

The development team also includes Frampton Construction as general contractor, while Site Engineering Consultants Inc. will serve as civil engineer. Lee & Associates will provide leasing and brokerage services for the project.

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Stonemont Commerce Park 840 will take shape on 157 acres at 4543 Sulphur Springs Road. Upon completion, the campus will comprise a 1.2 million-square-foot building with 40-foot clear heights and a smaller, 273,000-square-foot facility with 36-foot clear heights. The property is set to feature more than 830 parking spaces.

Situated along Interstate 840 and within 4 miles of Interstate 24, the development site is 35 miles from downtown Nashville and the city’s international airport.

Stonemont stays the course

With a portfolio totaling 25.2 million square feet, Stonemont continues to be an active industrial investor in nearly every dateline market in the U.S, with four recent acquisitions in Columbus, Ohio, Denver and Chicago, according to CommercialEdge data.

Additionally, the firm has been pursuing its development endeavors, particularly in the South and Midwest. In August, Stonemont broke ground on Castings Commerce Park, a three-building, Class A industrial park in Columbus. Another project, that Stonemont started in March, is Westinghouse35, a 230,000-square-foot speculative development in Georgetown, Texas.

Nashville’s industrial profile

Nashville’s emergence as an e-commerce-based shipping and logistics nexus has led to surging demand and high average rents. With a vacancy rate of 1.4 percent as of October, alongside region’s highest year-to-date sales price per square foot of $152, the capital of The Volunteer State remains one of the strongest-performing industrial markets in the South, in relative comparison to national leaders such as Dallas and Houston, data from a recent CommercialEdge report shows.