83,000-Square-Foot Industrial Building in Huntsville, AL at One of Largest Research Parks in the World
ATLANTA, April 25, 2019 /PRNewswire/ -- Stonemont Financial Group will fund the construction of an 83,000-square-foot build-to-suit industrial manufacturing and office space facility in Huntsville, Alabama for BAE Systems. The facility will include engineering development space, manufacturing space, laboratory space, and office space to support new and existing programs. Work at the facility will include the design, development, and manufacturing of some of the world's leading technologies. The building construction, which will be done by Samples Properties, Fuqua & Partners Architects, and Pearce Construction, is expected to be complete in early 2020.
"We are thrilled to work with BAE Systems on this project in Huntsville, an important market for leading defense contractors," said Zack Markwell, CEO and managing partner of Stonemont. "This new facility will help BAE Systems attract the key talent needed to develop cutting edge technologies and strengthen its new capabilities in the region. We are excited to serve as a trusted partner in BAE Systems' expansion."
BAE Systems will occupy the facility under a long-term net lease. Samples Properties will develop the property with Pearce Construction serving as the general contractor.
"We are committed to the Alabama region and Stonemont Financial Group's funding for this project is critical to the completion of our expansion in Huntsville, which will create new, high-tech jobs in the community," said Paul Markwardt, vice president and general manager of Survivability, Targeting, and Sensing Solutions at BAE Systems. "Huntsville is an ideal location to support our growth and attract the key talent needed to develop and deliver important new capabilities to our customers."
The state-of-the-art facility will occupy 19.2 acres in Cummings Research Park, the second largest research park in the country and the fourth largest in the world. The park sits a half mile north of I-565, one mile north of the U.S. Army Redstone Arsenal, and approximately 15 minutes east of the Huntsville International Airport. The site positions BAE Systems within a community of over 300 companies, 26,000 employees, and 13,000 students, allowing the company to tap into a local skilled and diverse employee base to execute on its commitments to customers. BAE Systems plans to add hundreds of jobs in Huntsville once this facility is fully-operational.
About Stonemont Financial Group
Stonemont Financial Group, a leading private real estate investment firm headquartered in Atlanta, Georgia, specializes in investing across a broad spectrum of asset classes and geographies 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. The firm's founders and managing principals have a combined track record of more than 60 years of experience and $20 billion invested.
About BAE Systems
BAE Systems is a global defense, aerospace and security company with more than 83,000 employees worldwide and operations in 30 U.S. states. The company is actively seeking skilled local candidates to fill critical engineering, manufacturing, program management, and business development roles. For more information, visit jobs.baesystems.com.
Edelman, for Stonemont