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**Stonemont Nears Completion of Industrial Service Facility on Staten Island**
Stonemont Financial Group, a private real estate investment firm based in Atlanta, is nearing completion of a 10,000-square-foot industrial service facility (ISF) on Staten Island. Named 2577 Forest Avenue, the facility marks Stonemont’s first development in New York City and is expected to be completed by the end of the year.
Strategically located between the Goethals and Bayonne bridges, 2577 Forest Avenue is adjacent to the Howland Hook Marine Terminal in the northwest corner of Staten Island. Rico Murtha and Helen Paul of Cushman & Wakefield are managing leasing for the property.
“This project represents another important step in advancing Stonemont’s ISF growth strategy and expanding our reach in the Northeast,” said Michael Coogan, Vice President of ISF at Stonemont. “The NYC market offers tremendous long-term opportunity for this asset class, and 2577 Forest Avenue’s optimal location close to the terminal positions it to serve a wide range of logistics and transportation needs in one of the most supply-constrained markets in the country.”
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