{"id":1004777987,"date":"2025-11-13T05:29:05","date_gmt":"2025-11-13T13:29:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004777987"},"modified":"2025-11-17T09:08:12","modified_gmt":"2025-11-17T17:08:12","slug":"stonemont-secures-cleveland-area-industrial-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stonemont-secures-cleveland-area-industrial-lease\/","title":{"rendered":"Stonemont Secures Cleveland-Area Industrial Lease"},"content":{"rendered":"\n<p>Stonemont Financial Group has obtained a full-building, 450,112-square-foot lease with B\u2019laster Holdings at Westfield Commerce Park in Westfield Township, Ohio.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Westfield-Commerce-Park.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004777998\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/stonemont-secures-cleveland-area-industrial-lease\/westfield-commerce-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Westfield-Commerce-Park.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Westfield Commerce Park\" data-image-description=\"&lt;p&gt;Image came with press release: https:\/\/www.citybiz.co\/article\/771196\/stonemont-financial-group-secures-full-building-lease-at-westfield-commerce-park\/ &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The lease at the speculative Westfield Commerce Park reportedly is one of the region\u2019s largest deals in the third quarter. Image courtesy of Stonemont Financial Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Westfield-Commerce-Park.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Westfield-Commerce-Park.jpg\" alt=\"Westfield Commerce Park in Westfield Township, Ohio.\" class=\"wp-image-1004777998\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Westfield-Commerce-Park.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Westfield-Commerce-Park.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/Westfield-Commerce-Park.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">The lease at the speculative Westfield Commerce Park reportedly is one of the region\u2019s largest deals this year. <em>Image courtesy of Stonemont Financial Group<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The transaction reportedly is one of the largest industrial leases in the Cleveland region in the third quarter. It seems that the tenant previously occupied about 309,000 square feet at Westfield Commerce Park, according to information from Yardi Matrix data, but <em>Commercial Property Executive<\/em> was unable to confirm this with Stonemont.<\/p>\n\n\n\n<p>The property is at the intersection of Interstates 71 and 76, about 40 miles southwest of Cleveland and due west of Akron.<\/p>\n\n\n\n<p>B\u2019laster Holdings is a specialty chemical manufacturer headquartered in Valley View, Ohio, and perhaps best known as a maker of lubricants and penetrants, such as Casite, Gunk and Liquid Wrench.<\/p>\n\n\n\n<p>Westfield Commerce Park features 36-foot clear heights, cross-dock configuration, 500 car parking spaces and 130 trailer stalls. It was completed in June 2023 as a speculative project.&nbsp;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/how-ai-powered-tech-is-reshaping-industrial-real-estate\/\">How AI-Powered Tech Is Reshaping Industrial Real Estate<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Stonemont is the property\u2019s developer and owner; Pinnacle Bank and PCCP are debt and capital partners. A JLL team of Executive Managing Director Joe Messina and Managing Director David Stecker oversaw leasing for Westfield Commerce Park and represented Stonemont in the transaction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-strong-in-ohio-growing-in-florida\">Strong in Ohio, growing in Florida<\/h2>\n\n\n\n<p>Despite nearly 1 million square feet of net negative absorption year-to-date, in large part from the closure of a Joann Fabrics facility in Summit County, the Cleveland region\u2019s industrial space market appears to remain resilient, according to a third-quarter report from JLL. Overall vacancy is 3.8 percent, and average asking rent hit $5.68 per square foot and is trending higher.<\/p>\n\n\n\n<p>In another good sign, JLL reports, the third quarter \u201csaw numerous leases signed in recently developed speculative product, highlighting occupiers\u2019 commitment to the region despite ongoing economic uncertainty.\u201d<\/p>\n\n\n\n<p>Stonemont has heavily invested in Ohio in recent years with the development of more than 3.5 million square feet of industrial space. The company&#8217;s projects in the state include Castings Commerce Park, a three-building, 862,000-square-foot industrial park in downtown Columbus; West Jeff One, a 1 million-square-foot distribution center in West Jefferson outside of Columbus; and Turnpike Commerce Center, a 1 million-square-foot industrial facility in Shalersville, near Cleveland.<\/p>\n\n\n\n<p>In addition, the Atlanta-based Stonemont has been active recently closer to home. In October it <a href=\"https:\/\/www.commercialsearch.com\/news\/stonemont-delivers-259-ksf-campus-in-orlando\/\">completed 429 Business Center<\/a>, a seven-building, 259,255-square-foot Class A industrial campus in Ocoee, Fla., in metro Orlando. The project delivered 49 percent preleased.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This marks one of the market\u2019s largest deals of its kind this year.<\/p>\n","protected":false},"author":882,"featured_media":1004777998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1584,21808,21748,13,21742],"tags":[32796,37349],"class_list":["post-1004777987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-cleveland","category-featured","category-industrial","category-midwest","category-latest","tag-jll","tag-stonemont-financial-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stonemont Secures Cleveland-Area Industrial Lease - 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