A New Jersey-based real estate developer reportedly has its eyes on $440 million worth of industrial space across state lines in Orange County, New York.
RDM Group has been signing contracts to purchase land and hunt for development approval from local municipalities in the Hudson Valley county, according to the Westchester & Fairfield County Business Journals. The company aims to build up to 14 warehouses with a total of 4 million square feet.
The developer is looking to create developments in Goshen, Wallkill, Middletown, Chester, Hamptonburgh and Wawayanda, WestFair Online reports. The developer would either build the developments on spec or custom-build for particular clients.
In Wawayanda, RDM reportedly has plans to develop an entire industrial park. The company expects to break ground at 1081 Dolsontown Road in November before potentially developing more projects down the street.
A number of developers have plans to start developing industrial projects in Orange County, according to WestFair Online. Other developers reportedly lining up to build warehouses and distribution centers in the county include NAI Platform, City View Commercial, Matrix Development Group, Weiss Realty and Bluewater Property Group.
One of the key advantages to industrial developments in Orange County is the proximity to transportation, RDM’s real estate specialist Isaac Neuman told the outlet. The Stewart International Airport in New Windsor is a draw, as are two trucking routes that run through the county, NYS Thruway I-84 and Route 17.
Meanwhile, industrial real estate is a booming sector amid the exponential increase of e-commerce activity during the pandemic. Major players like Amazon and UPS have looked to expand last-mile facilities in Brooklyn, Long Island and across the tri-state area.
RDM’s website lists portfolio projects in New Jersey and Pennsylvania in addition to its Hudson Valley efforts.
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Tenants can’t get enough of warehouses
[WestFair] — Holden Walter-Warner