Stonemont Passaic Logistics Center at 122 8th St. in Passaic — Courtesy: Stonemont Financial Group
By Joshua Burd
Atlanta-based Stonemont Financial Group has completed construction on nearly 296,000 square feet of new industrial space off Route 21 in Passaic.
The private real estate investment firm announced the milestone on Friday, noting that its Stonemont Passaic Logistics Center at 122 8th St. broke ground in summer 2023. It’s now touting the site’s location three miles from Route 3 and seven miles from the New Jersey Turnpike, along with features such as 40-foot clear ceiling heights, as it continues to market the speculative warehouse and distribution center.
JLL’s Ryan Milanaik, Ignatius Armenia, Chris Hile and David Knee are marketing the 295,506-square-foot facility, which also has a rear-load configuration, 267 car parking spaces and 55 trailer stalls.
“The location of this development is prime, and we are pleased to add it to our growing portfolio of Class A development in New Jersey,” said Neal Moskowitz, a senior vice president and principal with Stonemont. “We appreciate the support from the City of Passaic as we work together to reimagine an aging property into a dynamic hub for economic development, ultimately creating new jobs and generating tax revenue for the community. As demand continues to surge in the market, we anticipate a smooth leasing period for this well-positioned property.”
In a news release, Stonemont said the project results from a public-private partnership with the municipality. PREMIER Design + Build Group was its general contractor, with Bohler Engineering as civil engineer, Ware Malcomb as architect and PCCP LLC as capital partner.
“Industrial warehouses need to be up to the task of operating efficiently and reliably amid heavy use, with people, equipment and trucks coming and going round-the-clock to meet distribution demand,” Senior Project Manager Mohamed Attia said. “This facility includes many features that make it a major asset for logistics in the area.”
Stonemont closes on Passaic parcel, plans 296,000 sq. ft. spec industrial development
