Plans for the I-84 Orange County Logistics Center call for 146,075 square feet of industrial space off Route 208 in Montgomery, New York. — Rendering courtesy: Ridgecut Road
By Joshua Burd
Ridgecut Road has closed on a development site in New York’s Orange County where it plans to build more than 146,000 square feet of new high-end industrial space.
The firm, whose portfolio is concentrated in New Jersey, expects to break ground later this year at the 13.6-acre property in Montgomery. The site along Route 208 is fully entitled, Ridgecut said, noting that its plans call for 146,075 square feet with 36-foot clear ceiling heights, 31 dock doors and parking for 16 trailers and 83 cars.
The property is also just north of Interstate 84, part of the fast-growing Lower Hudson Valley region and roughly 30 miles from New Jersey’s northern border.
“This project will benefit from secular trends including the growth of ecommerce, modernization of the supply chain and onshoring of production coupled with its mission-critical location along major distribution routes to Port Newark, New York City and New England,” said Scott Shalek, principal and co-founder of Ridgecut Road. “Orange County and the LHV markets continue to draft off the rapid growth we have seen in the Meadowlands and (northern New Jersey) over the last 36 months. In turn, the supply pipeline cannot keep up with tenant demand given the timeline to entitle and build new warehouse and distribution product, and as a result we expect rents to continue to run.”
JLL’s Jim Pancyzkowski and Zach Antonucci are the leasing agents for what’s known as I-84 Orange County Logistics Center, according to a news release. Ridgecut’s team for the project includes land use counsel with Whiteman Osterman & Hanna LLP and Colliers Engineering & Design, which helped it obtain all development approvals, while the firm is working with a design and construction team at Premier Design + Build Group.
Guy Hananya at Clear Height Advisors brokered the off-market sale of the land site. Terms were not disclosed.
