NEW 1M SF SPEC BUILDING TO BE BUILT IN SHALERSVILLE, OHIO

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Jun 09, 2022, 16:31 ET

SHALERSVILLE, Ohio, June 9, 2022 /PRNewswire/ -- Geis Companies and its partner, Stonemont Financial Group, are pleased to announce the kick-off of its 470-acre Turnpike Commerce Center in Shalersville, Ohio, with the construction of a 1,000,000 square foot industrial building. The Project will sit on 75 acres of land at the corner of Route 44 and Beck Road. Development plans include a multi-million-dollar upgrade of existing utilities and installation of new utilities to the Commerce Center, as well as construction of Beck Road. The new building will include modern market requirements such as 40' clear heights, multiple truck docks and drive-in doors, ESFR sprinklers and ample trailer parking. Designed as a speculative project, the building is flexible in design to accommodate single or multi-tenant end users. "We are pleased to partner with Geis in bringing this state-of-the-art industrial facility to Turnpike Commerce Center, which possesses all the logistical advantages that are needed to become one of the region's premier business parks," said Stonemont CEO & Managing Principal Zack Markwell. "Stonemont's industry connections and proven know-how for developing large-scale speculative properties pairs nicely with Geis' in-depth understanding of the local market, ensuring the project is precisely tailored for the needs of today's users. This facility is already attracting great interest and we look forward to sharing more news on our progress in the months ahead."

Geis acquired the farmland in 2021 and has been working on developing a business park plan for the 470-acre Turnpike Commerce Center. The business park is located adjacent to the Ohio Turnpike with immediate access to the Route 44 entrance/exit ramp. The incredible access and visibility to the Ohio Turnpike makes the Turnpike Commerce Center an obvious choice for businesses with logistics and distribution needs. The site has historically sat vacant due to the lack of infrastructure and costly upgrades required to accommodate commercial and industrial end-users. Through public/private partnerships, the project has received necessary financial assistance to offset the increased costs of the utility upgrades to the site. The project is the recipient of an OSIP Grant awarded by JobsOhio and tax abatement awarded by Portage County. "I've been looking at this site for over 20 years and knew it would be right for a business park one day. Twenty years later, the right day has come and here we are with shovels ready to get started", Greg Geis, owner of Geis Companies, says of the Project. "This project would not have been possible without the incentives offered by the State, County and local agencies. The high infrastructure costs have turned other developers away from the site. We knew that if we couldn't figure out how to develop the site, no one else could."

Phase I of Turnpike Commerce Center is now leasing. For more information about leasing, contact David Stecker at [email protected] or 440-773-7674.

About Geis Companies
Geis Companies is a vertically integrated real estate solutions organization consisting of six unique divisions. Each division functioning independently but often working together to provide innate efficiencies in both quality and execution. This unique "all-in-house" approach is identified as our Full Cycle Approach and is the discerning characteristic that separates Geis Companies from its competitors. For more information, visit www.geiscompanies.com.

About Stonemont Financial Group
Stonemont is an Atlanta-based private real estate investment and development firm that acquires, develops and operates primarily industrial real estate across select markets in the United States. Stonemont owns and manages a portfolio with a market value in excess of $4.5 billion. For more information, visit www.stonemontfinancial.com.

SOURCE Geis Companies