Stonemont Financial Group, an Atlanta-based private real estate investment firm, has acquired a 67,000-square-foot industrial service facility (ISF) in Logan Township, New Jersey, outside of Philadelphia.
The rail-served development is Stonemont’s first ISF acquisition in the market and marks a significant milestone in the firm’s growing footprint of industrial assets across the Northeast. 300 Progress Court is currently being marketed for lease by Sean Kelly, Marc Petrella and Michael Kimmel of KBC Advisors.
The facility is located within the Pureland Industrial Complex and sits on 32 acres. Pureland Industrial Park is one of the largest industrial clusters in the Northeast region, offering direct access to the I-95 and I-295 corridors as well as the larger Philadelphia MSA.
“We are pleased to complete our first ISF acquisition in New Jersey and within the Philadelphia market with 300 Progress Court, a unique asset that aligns with our long-term strategy located in the highly sought-after Pureland Industrial Park,” said Ken Lankford, assistant vice president at Stonemont.
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