Fines issued by the DOS in these Consent Orders have ranged between $500 and $6,000. Brokers must carefully monitor all websites and social media pages of their associated licensees.
As State President, Phillips will oversee the council’s activities within New York State and act as a liaison between the regional vice president, the council’s leadership team, and its staff.
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
NEWBURGH—Matrix Development Group confirmed published reports on Aug. 3 that it recently signed a 927,000-square-foot lease with global automobile manufacturing firm Tesla at its Matrix Logistics Center, a two-building industrial complex at 1396 Route 300 in Newburgh.
Tesla will use the property as a distribution facility for automotive parts commencing in October. In selecting Matrix Logistics Center, Tesla was drawn to Newburgh’s strategic proximity to both New England and the Mid-Atlantic corridor, and the property’s immediate access to the New York State Thruway, I-84, and Route 300, Matrix officials stated. With the lease deal, the two-building property is now fully leased.
“Matrix Logistics Center capitalizes on the micro asset of extremely convenient access to highways and the macro asset of reach within the broader Northeast context,” said Matrix Development Group Partner Alec Taylor. “Matrix has had great success in the region over the last decade, and we will continue our expansion within Orange Country. We are delighted that Tesla chose us, and are thoroughly enjoying our collaboration with them.”
Matrix’s Orange County holdings also include the Matrix Business Park at Newburgh; the Chester Distribution Center; and the Matrix Distribution Center in Middletown. Matrix Development Group is headquartered in Monroe Township, NJ.
“With the market for industrial space extremely tight, there are very few high-quality logistics facilities that can accommodate operations the size of Tesla’s, and the ability to obtain nearly a million square feet in a single building was a critical factor for them,” Taylor added. “In choosing to locate to the Matrix Logistics Center, Tesla will also benefit from Orange County’s growing labor pool, which is particularly valuable in today’s tight labor market.”
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 and 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, an Orange County Partnership official reported in mid-July.
Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the company has developed 50 million square feet of real estate.
As State President, Phillips will oversee the council’s activities within New York State and act as a liaison between the regional vice president, the council’s leadership team, and its staff.
“Home sales momentum is building,” said NAR Chief Economist Lawrence Yun.
Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
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