Atlanta-based Stonemont Financial Group has made its first industrial investment in the Philadelphia region, acquiring a South Jersey property for $25.5 million. The 32-acre site, located at 300 Progress Court in Logan Township, was sold by Advanced Drainage Systems Inc., which had previously occupied the facility but vacated following the sale. The deal reflects a price of roughly $797,000 per acre.

The property includes a 67,000-square-foot warehouse and significant outdoor storage capacity, both of which are currently vacant. Stonemont’s acquisition strategy anticipates securing a single tenant to utilize the warehouse and yard space.

Situated within the Pureland Industrial Complex, the site offers prime logistical advantages, including proximity to Interstate 295, direct rail access, and infrastructure capable of supporting heavy power users such as manufacturers. According to Stonemont’s acquisitions team, properties with these combined features are becoming increasingly rare in today’s market.

*Article courtesy of Philadelphia Business Journal

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