Stonemont unveils plans for 1.4-million-square-foot industrial development in Murfreesboro, TN

Two-building industrial park set to deliver hundreds of jobs to community while filling local void for big-box product

Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, announced today that it is moving forward on a two-building, 157-acre industrial park in Murfreesboro, Tennessee outside of Nashville. Stonemont is serving as developer on the project, which will break ground in the first quarter of 2023.

Called Stonemont Commerce Park 840, the industrial park will sit on Sulphur Springs Road with direct access to I-840, just six miles from I-24 and a short drive to the Nashville International Airport. The development will include a 1.17-million-square-foot facility with 40-foot clear heights, 280 auto parking stalls and 276 trailer stalls. It will also house a 273,000-square-foot facility to accommodate smaller tenants, with 36-foot clear heights, 200 auto parking stalls and 76 trailer stalls.

The development is expected to generate hundreds of new jobs in Rutherford County, enhancing economic development efforts in an area that has emerged as a booming regional hub for e-commerce and third-party logistics providers.

“Stonemont’s ability to forge strong relationships and in-depth knowledge of the Nashville market have served us well for this particular project, and we have done our due diligence to make sure this site is shovel ready by the new year,” said Stonemont Senior Vice President Dusten Estes. “Stonemont Commerce Park 840 will be one of the few big-box buildings over a million square feet in size available in the submarket for larger users. We are appreciative of Rutherford County officials, who have expressed unwavering support to make this vision a reality for top-tier tenants that are ready to go to work and help spur the next wave of economic growth in Murfreesboro and Rutherford County.”

The Nashville-Murfreesboro-Franklin region is one of the country’s most dynamic markets for business and industrial growth, and was in the top five markets for job growth this year according to the Bureau of Labor Statistics. Nashville’s industrial market continues to perform well with a vacancy rate of 2.5% in Q3 of this year, the 12th consecutive quarter with vacancy posted below three percent.

“We are confident in the plan we have created for our next phase of growth in the greater Nashville area, and have already planted a flag with several above-grade industrial facilities in the market,” said Stonemont President & CEO Zack Markwell. “This project is set to bring a number of new jobs to the area, which has one of the deepest labor pools in the Southeastern United States. We are already fielding inquiries from prospective tenants and look forward to sharing more news on our progress in the months ahead.”

Completion on Stonemont Commerce Park 840 is expected in late Q1 2024. Additional project partners include general contractor Frampton Construction, brokerage firm Lee & Associates and civil engineer Site Engineering Consultants, Inc.

Stonemont has invested itself in the greater Nashville MSA in recent years with over 2 million square feet in development completed or underway in the region. Additional projects in the market include a 730,000-square-foot manufacturing facility for Vi-Jon in Smyrna, Tennessee; an 816,000-square-foot distribution facility for Dorman Products in Portland, Tennessee; and a 525,000 sq ft distribution facility for Electrolux in Springfield, Tennessee.