Stonemont Financial Group Continues Midwest Expansion With Industrial Park in Columbus

859,240-square-foot speculative development set to accommodate Central Ohio’s surging demand for Class-A industrial product

Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, announced today it will break ground next month on a 71-acre industrial park in the South Side district of Columbus, Ohio. The project is slated for completion in Q3 2023.

Known as Castings Commerce Park, the speculative development will include three Class-A buildings totaling 859,240 square feet, consisting of a cross-dock facility and two rear-load facilities ranging from 112,000 square feet to 599,040 square feet. Each building will have above standard clear heights and ample parking for tenant cars and trucks. The project is designed to accommodate both a single and multi-user layout, which are currently underserved in the immediate submarket.

“This is a rare infill development opportunity in an area that has a rich industrial history and offers close proximity to a deep labor pool,” said Stonemont CEO and Managing Principal Zack Markwell. “Once complete, Castings Commerce Park will serve as a premium option for e-commerce and logistics users looking to capitalize on Central Ohio’s ongoing industrial boom. We are pleased to expand our Midwest footprint with this project and look forward to sharing more news on our progress in the coming months.”

The property was home to Buckeye Steel, a longtime steelmaking company dating back to the 1800s. Located at 2211 Parsons Avenue, the site has close access to I-71, I-270 and other major arteries in Central Ohio. It is estimated that nearly 50% of the country lives within 500 miles of Columbus, making it the nation’s geographic heart for mass distribution. Additionally, the Columbus market has over 16 million square feet of industrial space under construction and is continuing to grow.

The project underscores Stonemont’s continued commitment to growth in the Midwest. In conjunction with Pizzuti, the firm acquired a 1,090,000 square-foot project in West Jefferson, Ohio, west of Columbus. Stonemont also has several properties under construction in the Cleveland area, including a 1,000,000 square-foot industrial building in Shalersville and a 450,000 square-foot building in Westfield Center village.