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Stonemont Nears Completion of Industrial Service Facility on Staten Island
Stonemont Financial Group, an Atlanta-based private real estate investment firm specializing in industrial development, acquisitions and net lease investments, is developing a 10,000-square-foot industrial service facility (ISF) on Staten Island. Called 2577 Forest Ave., the project is Stonemont’s first in New York City and is slated for completion by year’s end.
2577 Forest Ave. is located between the Goethals and Bayonne bridges, adjacent to the Howland Hook Marine Terminal in the northwest corner of Staten Island. Rico Murtha and Helen Paul of Cushman & Wakefield handle leasing.
“This project represents another important step in advancing Stonemont’s ISF growth strategy and expanding our reach in the Northeast,” said Michael Coogan, VP of ISF at Stonemont. “The NYC market offers tremendous long-term opportunity for this asset class, and 2577 Forest Ave.’s optimal location close to the terminal positions it to serve a wide range of logistics and transportation needs in one of the most supply-constrained markets in the country.”
- ◦Development
