Stonemont Financial Group has closed on a new industrial park in Locust Grove. The new development, entitled Stonemont Park 75 South, plans to break ground later this quarter off highway 42.
Update: construction broke ground in the second quarter of 2024.
The new industrial park will consist of three buildings on 113 acres.
Stonemont Park 75 South
Buildings within Stonemont Park will range in size from 124,800 square feet to 538,720 square feet. There will be a total of 903,200 square feet of space. The speculative buildings seek to fill a void within the I-75 South submarket by offering smaller leasable areas. Henry County saw historically low vacancy rates below 2% at the end of 2022.
The property is located off highway 42. It has over 2,000 feet of I-75 road frontage. Road access will be off the existing intersection at state route 42 and Pine Grove Road. Its expected in the future the property will have vehicle access to Bethlehem Road when the new interstate exit builds. Access would be through a new frontage road negotiated during rezoning.
The Locust Grove city council approved a rezoning request for the property in June 2022. They approved architectural renderings for the project earlier this month.
At the time of the zoning hearing, the council inquired about a traffic light at state route 42 and Pine Grove Road. The expected trip generation for the project does not warrant a new signal. Instead, the developer will be adding turn lanes into their site.
About Stonemont Financial Group
Stonemont Financial Group is a private real estate investment firm specializing in industrial development, acquisitions and net lease investments. They have over 1.5 million square feet of new development presently under construction across the Atlanta region.
Featured image shows an architectural rendering for Stonemont Park 75 South. Ware Malcomb photo.
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