NJ Developer Acquires 92-Acre Site In Wallkill For Logistics Center

WALLKILL, NY — A logistics center is to be built at 350 Silverlake-Scotchtown Road in Wallkill.

Industrial real estate broker JLL announced Tuesday that it had completed the sale of the 92-acre industrial development site on behalf of Vision Real Estate Partners, a New Jersey-based real estate investment, development and asset management company.

The fully approved industrial development parcel was acquired by Crow Holdings Development, the development platform of privately owned real estate investment and development firm Crow Holdings.

CHD plans to break ground on the first phase of what will become Golden Triangle Logistics Center in the third quarter of 2024, JLL announced.

Phase I will comprise a 535,603-square-foot, state-of-the-art industrial facility with 88 dock doors, storage for 83 trailers and 422 car parking spaces as well as 36 ft. clear ceiling heights.

Phase II is approved for 299,200 square feet of development and a facility that could include 38 dock doors, 34 trailer storage sites and parking for 199 cars.

“Seeing the site developed, contributing to the town’s tax base, creating jobs and meeting demand for Class A logistics space has been a long-term goal for us,” Ryan Fraser, Senior Vice President – Investments, Vision Real Estate Partners, said in the announcement.

Vision RE 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, JLL officials said.

The Town of Wallkill approved a rezoning to suit industrial development 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, where capital and entitlement hurdles have led to a selective pullback elsewhere, JLL officials said.

JLL Northeast Industrial Vice Chairman Rob Kossar and Executive Managing Director James Panczykowski brokered the sale with Capital Markets Senior Managing Directors Jon Mikula and Jim Cadranell.

“This sale presented Crow Holdings Development with a rare opportunity to own a development site of scale in a space-constrained region with an outstanding regional and local logistics profile,” said Panczykowski.

JLL Northeast Industrial has been retained to market the new facility for lease.

“Crow Holdings Development has a long, proud history of industrial development, and we’re excited to contribute to the continued economic growth and vitality of the area,” said Brad Vander Vliet, Vice President of CHD Northeast Division. “We look forward to partnering with stakeholders in the area to deliver sought-after industrial space in this key market.”

JLL officials called Orange County, just 60 miles north of New York City and crisscrossed by three interstate highways, the "Crossroads of the Northeast."

They said the Golden Triangle Logistics Center will offer access to 50 million consumers within a day’s drive, connectivity to the Northeast’s interstate network, a strong labor pool and the ability to service the Boston to Baltimore corridor while also offering last-mile access to the New York City metro area.