A rendering of the Tri-State Logistics Center at 2500 Route 17M in Goshen, New York — Courtesy: Resource Realty of Northern New Jersey
By Joshua Burd
A developer is preparing to break ground on a new 500,000-square-foot industrial project in New York’s Orange County, about 25 minutes north of the New Jersey border.
Resource Realty of Northern New Jersey, the project’s leasing agent, is working on behalf of GFI Partners to market the site at 2500 Route 17M in Goshen. The speculative development is GFI’s first in the market, as it looks to capitalize on the surging demand from e-commerce users.
“Within 100 miles is a population exceeding 33 million with some of the highest household incomes in the nation,” said Scott Peck, a senior vice president with Resource Realty in Parsippany. “This metro area will drive the success of Tri-State Logistics Center. Additionally, the site, just an hour from New York City, is within two and a half hours of Philadelphia, three and a half hours of Boston and four and a half hours of Washington, DC.”
In a news release, Resource Realty said the project is the largest speculative development ever built in Orange County. Boston-based GFI recently closed on the 83-acre site, seeking to expand a portfolio that includes more than 15 million square feet of industrial space.
GFI Partners and Resource Realty will kick off the project with a Nov. 24 groundbreaking ceremony that’s expected to include Brian Poitras and Steve Goodman of GFI Partners, along with Orange County Executive Steven Neuhaus and Maureen Halahan, CEO and president of the Orange County Partnership.
“Tri-State Logistics Center is designed with all the features necessary to support the demanding requirements of today’s logistics providers, including (36- to 39-foot) ceilings, up to 100 loading docks, an ESFR sprinkler system and abundant car and trailer parking, providing direct access to Route 17 and 10 miles to I-84 and the New York State Thruway,” said Tom Consiglio, a principal with Resource Realty.
The estimated completion date for the center is December 2021.
