Stonemont Financial Group has acquired more than 49,000 square feet of industrial space in Camden as part of a series of new transactions announced Wednesday.
Aiming high: A gleaming new office tower is Camden’s next big swing. Officials are now quietly working to get the project started.
Dreams of a building a new 25-story, 500,000-square-foot office tower in Camden still hinge on addressing several complex issues, but officials are confident in the project’s future, citing commitments from several key anchors in the city and the type of cooperation that has helped other large-scale investments in the city come to fruition.
Laying the groundwork
As you’ll read in this month’s cover story, stakeholders in Camden have been quietly working to advance the proposed 25-story, 500,000-square-foot office tower that would be known as the Beacon Building. That’s no easy task, given the post-pandemic office market and complex questions of ownership and financial viability. Yet they’re confident in the project’s future, citing commitments from key anchor institutions and the type of cooperation that has helped other large-scale investments in the city come to fruition.
