Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, announced that it has closed on 30 acres of land to build a new 236,000-square-foot industrial park in Chamblee, Georgia. The project, in conjunction with developer Seven Oaks Company, will include four rear-load institutional quality buildings sitting on 24 acres of land, with the remaining 6 acres to be retained for future development. Once completed, the project will offer the first modern, concrete tilt-wall warehouses built inside I-285 since 2003.
The project, called Chamblee International Logistics Park, will front Chamblee Tucker Road and Chamblee Dunwoody Road just minutes from I-285. The buildings will feature modern, Class A amenities, 28’ to 32’ clear heights and carefully designed aesthetics that feature facades facing the city right-of-way. Chamblee International Logistics Park will serve as a last-mile location for businesses wanting close proximity to DeKalb-Peachtree Airport (PDK), the Center for Disease Control and Prevention and direct access to surrounding Metro Atlanta cities and major transportation routes in the city.
“This is an exciting project for the Stonemont and Seven Oaks teams, as it represents a top-of-the-line industrial park strategically located in a growing submarket that has not seen new development of this standard in nearly two decades,” said Stonemont CEO and Managing Principal Zack Markwell in a statement. “The decision to partner with Seven Oaks came naturally due to its strong reputation and detailed understanding of the Metro Atlanta industrial market. We look forward to expanding our footprint across the region as we seek out more opportunities to meet record-breaking demand from e-commerce users and 3PL providers.”
“We are thrilled to commence another project in Chamblee and officially launch our first venture with Stonemont,” said Seven Oaks Principal Randy Holmes. “Stonemont is a best-in-class partner, and we are excited to continue our relationship with them in future projects. We also appreciate the support and vision from the city of Chamblee to facilitate this unique project and we look forward to welcoming new companies to grow this dynamic intown city.”
According to the 2020 U.S. Census, Chamblee is the fastest-growing city within Metro Atlanta, tripling its population since 2010 mostly due to its location as a key transportation hub. With premier access to routes including I-285 and I-85, low home prices and high population growth, Chamblee has quickly become an in-demand area for industrial users looking to capitalize on its convenience. The Atlanta market as a whole has seen continual progress in industrial development and leasing, with the Q1 2022 vacancy rate sitting at a low 3.7%.
Stonemont has heavily invested itself in the greater Atlanta market over the past few years, playing into the area’s continued allure for larger third-party logistics and corporate users. Earlier this year, the firm announced it had broken ground on a 234,133-square-foot industrial facility in Braselton, Georgia. Stonemont also announced last year a new 18-acre, three-building industrial park in Kennesaw, Georgia, which represented one of the last infill industrial sites in the I-75 North submarket.
Chamblee International Logistics Park will break ground this month and is slated for completion in Q2 of 2023. Additional project partners include Catamount Constructors as the general contractor, Kimley Horn and Associates as the civil engineering firm and Ware Malcomb as the architect.