Stonemont to develop new warehouse and distribution hub for Elkay in industrial park

Staff report
<p>Shown is a rendering of the proposed 387,302-square-foot build-to-suit building that will serve as a warehouse and distribution facility for Elkay. The building will be located within the U.S. 74 and I-95 Industrial Park.</p>

Shown is a rendering of the proposed 387,302-square-foot build-to-suit building that will serve as a warehouse and distribution facility for Elkay. The building will be located within the U.S. 74 and I-95 Industrial Park.

<p>Shown is a rendering of the proposed 387,302-square-foot build-to-suit building that will serve as a warehouse and distribution facility for Elkay. The building will be located within the U.S. 74 and I-95 Industrial Park.</p>

Shown is a rendering of the proposed 387,302-square-foot build-to-suit building that will serve as a warehouse and distribution facility for Elkay. The building will be located within the U.S. 74 and I-95 Industrial Park.

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    LUMBERTON – Stonemont Financial Group announced Tuesday it has closed on the land for a new build-to-suit warehouse and distribution facility in Lumberton for Elkay.

    Stonemont, a private real estate investment firm specializing in industrial development and net lease assets, will serve as the owner and developer for the project, which has an expected completion date of October 2022.

    Elkay is a 101-year-old, family-owned company based out of the Chicago metro area, with 28 manufacturing and operating facilities located across the country and internationally in locations including China, Mexico and Austria. Elkay is a manufacturer of sinks, faucets, bottle filling stations and drinking fountains.

    Stonemont’s new partnership with the manufacturer is a continuation of Elkay’s ongoing expansion strategy, aimed at growing the company’s national and global manufacturing and distribution network. The 387,302-square-foot build-to-suit in Lumberton will be the only ground-up building within the broader scope of Elkay’s ongoing expansion plans.

    “Elkay is an established, well-respected member of the Lumberton community, and we are proud to play a role in the company’s 40-year growth story in the city,” said Stonemont Senior Vice President Sean McDonnell. “Stonemont is appreciative of Lumberton’s city officials and Robeson County for their collaborative nature and commitment to making this project successful for all parties involved.”

    “Elkay is grateful for our long-standing successful partnership with the City of Lumberton and Robeson County. The community and her people have been instrumental in our continued success and have played an important role in enabling us to achieve our position as #1 stainless steel sink manufacturer in America,” stated Elkay Plumbing President Ted Hamilton.

    “As we continue to experience exponential growth in the residential and commercial markets we serve, we feel fortunate to have partnered with a powerhouse real estate investment partner such as Stonemont to help us achieve our expanded manufacturing and distribution capabilities here in Lumberton,” Hamilton added.

    The warehouse and distribution center will sit within the new industrial park located at the intersection of U.S. 74 and Interstate 95, with Elkay serving as the anchor tenant at the development. The new industrial park is connected by U.S. 74 to Charlotte to the northwest and Wilmington to the southeast and by I-95 to Raleigh and Richmond, Virginia to the north as well as the ports of Charleston, South Carolina; Savanah, Georgia; and Jacksonville, Florida to the south.

    Additional key partners in the project include general contractor Choate Construction, architect Merriman Schmitt and engineer consulting firm Thomas & Hutton.

    Stonemont currently has more than 15 million square feet of Class A industrial product under development around the country, and over $4 billion assets under management. Recent projects in the firm’s portfolio include a build-to-suit manufacturing facility and two speculative buildings at the Omni Industrial Campus outside of Charleston, South Carolina, a three-building industrial park in Kennesaw, Georgia and a manufacturing facility for Corning Inc. at Trivium Corporate Center in Hickory.For more information on Stonemont and its initiatives, visit stonemontfinancial.com.