The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
NAR continues to believe that offers of compensation are an important option to help make professional representation more accessible.
Starting out in her 20s, Rondon worked with real estate legend Faith Hope Consolo while at Garrick Aug Associates, where she spent 13 years.
GOSHEN—The Orange County Partnership reported earlier today that Tesla, the renowned electric car manufacturer, has selected Orange County as the home for its new regional distribution facility for vehicle parts in the Town of Newburgh.
Orange County Partnership officials stated that Tesla will occupy 927,000 square feet of speculative space built by Matrix Development Group at 1396 Route 300 in the Town of Newburgh.
Matrix secured approvals for the business park located on Route 300 in 2022 and has since constructed two buildings of 215,000 square feet and 927,000 square feet. The property, located directly across from the Newburgh Mall and adjacent to the I-84/I-87 interchange, is considered a strategic location for the logistics and warehouse/distribution sector.
Tesla plans to open its East Coast Parts Distribution Center at the site by the end of 2023. Tesla plans to initially employ 150 workers at the Newburgh facility by the end of this year and eventually ramp up to a 300-member workforce there, according to an Orange County Partnership official.
No financial details or terms of the transaction were disclosed.
Based in Monroe Township, NJ, Matrix is a development firm with a rich portfolio of projects in Orange County including: AmerisourceBergen, wineshipping.com and other projects throughout the tri-state area.
“Matrix has a long history of undertaking quality projects in Orange County. The Tesla signing is yet another example of the value of speculative development, and exactly why we supported the approval of this robust business park. Our market is strong—we will continue to support site development in the effort to attract more quality companies to Orange County. We welcome Tesla to Orange County with open arms” said Maureen Halahan, President, and CEO of the Orange County Partnership.
“Tesla is changing the automotive industry in America and abroad. Having a relationship with Tesla in Orange County can raise income levels for our area and create good jobs. It will also increase competition for our workforce and is another major name in the American economy choosing to come to Orange County,” said Orange County Executive Steven M. Neuhaus.
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
NAR continues to believe that offers of compensation are an important option to help make professional representation more accessible.
Starting out in her 20s, Rondon worked with real estate legend Faith Hope Consolo while at Garrick Aug Associates, where she spent 13 years.
“The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions,” said NAR Chief Economist Lawrence Yun.
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