Crow Holdings to Develop Golden Triangle Logistics Center
2 min read
Crow Holdings Development has acquired a 92-acre site in Wallkill, N.Y., from Vision Real Estate Partners. JLL brokered the transaction.
Located at 350 Silver Lake-Scotchtown Road, the fully approved industrial development parcel will be the home of Golden Triangle Logistics Center. CHD intends to break ground on the project’s first phase in the third quarter.
Phase One will comprise a 535,603-square-foot industrial building with 36-foot clear heights, 88 dock doors, storage for 83 trailers and 422 car parking spaces. JLL Northeast Industrial will market the new facility for lease.
READ ALSO: Industrial Development Pipeline Shrinks
Phase Two was approved for a warehouse of 299,200 square feet. The building could have 38 dock doors, 34 trailer storage sites and 199 car parking spaces.
Golden Triangle Logistics Center will provide access to 50 million consumers within a day’s drive and connectivity to the Northeast’s interstate network. The Orange County location will service the corridor from Boston to Baltimore while also offering last-mile access to the New York City metro area.
JLL Vice Chairman Rob Kossar and Executive Managing Director James Panczykowski arranged the transaction. The duo will also lead the agency leasing assignment.
The story behind the campus
Vision Real Estate Partners became a joint venture partner on the long-vacant site in 2018, after earlier plans to build a mixed-use retail property there were scrapped.
Wallkill approved a rezoning to industrial use as part of its commitment to economic development that has turned Orange County into one of the most active industrial construction sites in the Northeast.
Back then, Vision planned to develop a five-building speculative commercial project that could total more than 1 million square feet. The facilities would have ranged from approximately 170,000 square feet to 230,000 square feet.
The post Crow Holdings to Develop Golden Triangle Logistics Center appeared first on Commercial Property Executive.
