Orange County Partnership showcases 60 sites for developers
“Stewart’s the place to be,” said Maureen Halahan. The president of the Orange County Partnership (OCP) had Port Authority officials on hand at Stewart International Airport to welcome 85 site selectors and commercial real estate developers as its Brokers’ Tour kicked off Friday, May 18.
The group started its eight-hour crash course on Orange County’s benefits at the region’s “fourth airport” – Stewart – then hit the road to view more than 60 available sites in the region.
Halahan may be right about Stewart’s growth spurt attracting new business, but these high-stakes players were looking at several locations, not just the ones surrounding the Port Authority of New York/New Jersey’s forthcoming hub in the Hudson Valley. Some said the rush to get in on the ground around Stewart is inflating prices, making the immediate area not as desirable as it could be. Municipal and private concerns like Montgomery, New Windsor, Stewart Industrial Park, Middletown and Walden were on the site-seeing list.
These wheelers and dealers came from across the Hudson Valley and mid-Atlantic region, eyeing Orange County as a quickly emerging market for companies based in Westchester, Maryland, Pennsylvania, and Massachusetts.
The top-shelf tour, complete with a visit to Montgomery’s popular Orange County Choppers showroom and complimentary T-shirt for all comers was just one of the day’s perks offered by the partnership.
Another was an under-the-tent luncheon at Wakefern’s former property off Crystal Run Road, owned by Panattoni Development Corp. and marketed by CB Richard Ellis’ Senior Vice President Jim Tully. The high-class clambake constituted a two-hour tour hiatus, comprised of gabbing, gobbling and gambling.
A tour of Crystal Run Road’s 706,000-square-foot commercial/industrial space on 94 acres, where the high-class hoedown was held, was a highlight of the brokers’ ballyhoo. “We’ve already leased 202,000 square feet and have another 75,000 in negotiation,” said Tully, who works out of CB Richard Ellis’s Saddle Brook, N.J., offices representing Panettoni. “At $4.75 triple net, we are confident we are going to have tenants – either as renters, lessees or condo owners,”
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