Stonemont Financial Group, an Atlanta-based private real estate investment firm specializing in industrial development, acquisitions and net lease investments, today announced the acquisition of 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.

Called 300 Progress Court, the facility is located within the Pureland Industrial Complex and sits on 32 acres. The property features heavy power infrastructure, seven drive-in doors and two dock doors, office space, outdoor storage space and on-site rail access that positions it well to serve local market demand for warehouses below 100,000 square feet. 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. “This property offers tenants a combination of features that are increasingly hard to find, including unique logistical advantages with direct rail access, heavy power and unparalleled access to the region’s primary transportation arteries. As one of the earliest institutional investors in the industrial outdoor storage sector, Stonemont continues to see limited supply of well-located IOS and ISF assets nationwide, and this acquisition underscores our commitment to sourcing and delivering differentiated opportunities in high-demand markets like Philadelphia and beyond.”

ISF is defined as a subset of industrial outdoor storage (IOS) and includes sites that feature functional service buildings in addition to stabilized fences and lit outdoor space zoned for storage. Stonemont has continued to see a highly constrained supply of well-located ISFs across the country, and has significantly grown its portfolio of ISF properties as demand for the asset class has strengthened. Recently, Stonemont announced the acquisition of a 24.8-acre ISF in Dallas, a 5.81-acre ISF property with 61,000-square-feet of office space in La Porte, Texas, and a 5.28-acre ISF site in Duluth, Georgia.

300 Progress Court is currently being marketed for lease by Sean Kelly, Marc Petrella and Michael Kimmel of KBC Advisors.