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New York & Tri-State  + New Jersey  + Industrial  | 
Stonemont Financial Group closed on the land for Stonemont Passaic Logistics Center, a speculative industrial development in Passaic, NJ

Stonemont Financial Closes on Land for Spec Industrial in Passaic

Atlanta-based Stonemont Financial Group closed on the land for a 295,506-square-foot speculative industrial development in Passaic, NJ. Called Stonemont Passaic Logistics Center, the project is expected to deliver in the second quarter of 2024. 

The Class A development is located at 122 8th St. In Passaic, just off Route 21 and three miles from Route 3. It is also seven miles from the New Jersey Turnpike and roughly 12 miles from New York City. The facility will be built to fit modern standards within bulk distribution.  

“While this market is home to one of the largest populations in the U.S., there is a notable lack of quality industrial product to meet the standards of today’s users,” said Stonemont VP Brian Danahy.  “Stonemont Passaic Logistics Center will play a critical role in addressing that void as it helps usher in a new era of last-mile development in the region.” 

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Stonemont's Danahy

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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