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Stonemont Financial Group Completes 296K Industrial Development in Northern New Jersey

Stonemont Passaic Logistics Center in Passaic, New Jersey sits just miles from the New Jersey Turnpike and the greater New York...

Stonemont Passaic Logistics Center in Passaic, New Jersey sits just miles from the New Jersey Turnpike and the greater New York metropolitan area ATLANTA (Jan. 27, 2025) – Stonemont Financial Group, a private real estate investment firm specializing in industrial real estate investments, has completed construction on Stonemont Passaic Logistics Center, a premier 295,506-square-foot industrial development in Passaic, New Jersey. The project initially broke ground in Summer 2023.   Located at 122 8th St. just off Route 21 and three miles from Route 3, Stonemont Passaic Logistics Center is a speculative development that fits modern bulk distribution standards and features 40-foot clear heights, rear-load configuration, 267 car parking spaces, and 55 trailer stalls. The property sits seven miles from the New Jersey Turnpike and 12 miles from New York City, positioning it in a suitable location for transportation and quick access to the New York metropolitan area.   “The location of this development is prime, and we are pleased to add it to our growing portfolio of Class A development in New Jersey,” said Stonemont Senior Vice President & Principal Neal Moskowitz. “We appreciate the support from the City of Passaic as we work together to reimagine an aging property into a dynamic hub for economic development, ultimately creating new jobs and generating tax revenue for the community. As demand continues to surge in the market, we anticipate a smooth leasing period for this well-positioned property.”   The project is the result of a public-private partnership between Stonemont and the City of Passaic and is another example of Stonemont’s strategy to meet the demand for Class A, move-in ready industrial product in Northern New Jersey. The state of New Jersey experienced a 1.3% increase in population size between 2023 and 2024 and leads the Northeast in year-over-year population growth. As of 2024, the New York City metropolitan region had a population of 23.5 million people and accounted for nearly 10% of the U.S.’s gross domestic product.   PREMIER Design + Build Group served as the general contractor on the project, with Bohler Engineering as the civil engineer, Ware Malcomb as the architect, and PCCP as the capital partner.   “Industrial warehouses need to be up to the task of operating efficiently and reliably amid heavy use, with people, equipment, and trucks coming and going round-the-clock to meet distribution demand,” says Senior Project Manager Mohamed Attia. “This facility includes many features that make it a major asset for logistics in the area.”   For more information on Stonemont and its initiatives, click here .   ### Media Contact: Patricia Bacon The Wilbert Group pbacon@thewilbertgroup.com About Stonemont Financial Group Stonemont Financial Group specializes in investing across a broad spectrum of real estate asset classes and geographies, specializing in industrial, net lease, and healthcare real estate.  to deliver attractive risk-adjusted returns. Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts, and high net-worth individuals. With a combined track record of over 60 years of experience and $20 billion invested, Stonemont’s founders and managing principals are committed to delivering attractive risk-adjusted returns.   About PREMIER Design + Build Group PREMIER Design + Build Group  is a leading national design-build construction firm with regional offices strategically located in Illinois, California, and New Jersey. With a strong track record spanning 20 years, PREMIER specializes in providing comprehensive solutions for industrial, commercial, healthcare, residential, retail, and mixed-use construction projects. An employee-owned company, PREMIER has an unwavering commitment to quality, innovation, and customer service that has earned it a reputation as a trusted partner in the industry.

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