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Deals & Dealmakers

CBRE tapped to find tenants for one million s/f Northeast Logistics Center

CBRE has been appointed the exclusive leasing agent for the Northeast Interstate Logistics Center, a planned development totaling approximately 1.1 million square feet of high-bay warehouse in Putnam County, NY.

Situated on 252 acres along Interstate 84 at Exit 19, and in close proximity to Interstate 1-684 at Exit 20, within the Town of Southeast. The planned development is currently going through a c-oordinated approval process.

William V. Cuddy Jr., an Executive Vice President with CBRE’s Westchester/Fairfield office, will work closely with colleague Budd Wiesenberg, Vice President, as exclusive agent to identify the ideal tenancy for the state-of-the-art logistics facility.

“The vacancy rate for industrial warehouse and logistics space in Putnam County and the region is in the very low single digits,” notes Cuddy. “As a result of the astronomical growth of online retailing and automation, logistics facilities in prime locations with direct access to multiple interstate transportation options are in extremely high demand throughout the northeast corridor.”

The planned development will comprise four buildings offering modern, high bay warehouse distribution space. The Northeast Logistics Center is located equidistant between Boston and Philadelphia. New York City, Hartford, New Haven and Newark are all accessible within one and a half hours.

Located in central Putnam County, the Northeast Interstate Logistics Center is convenient to the area employment centers of Westchester, Dutchess, and Orange Counties in New York and Fairfield and Litchfield Counties in Connecticut. Nearby centers of commerce include White Plains, Poughkeepsie and Newburgh, New York as well as Greenwich, Stamford and Hartford, Connecticut.

The property’s location off Route 312 and Pugsley Road allows for multi-modal transportation alternatives. For example, NILC is just 1 mile from Exit 19 (Route 312/I-84 interchange) and 3.9 miles from Exit 20 (I-84/I-684 interchange) and the Southeast Metro-North train station is only a 1.3-mile drive from the property. Train service provides frequents stops in Mount Kisco, White Plains, and Grand Central Terminal in New York City. The Westchester County Airport and Stewart Airport in Orange County are both less than 30 minutes away. Stewart Airport is now under the control of the Port Authority of New York with significant plans for expansion of service. LaGuardia, JFK, Newark, and Bradley International airports are less than one and a half hours away.

“Given the Northeast Interstate Logistics Center’s strategic Putnam County location, it will appeal to a variety of corporate users requiring quick distribution of their goods to New York City and the entire tri-state region” added Wiesenberg.  “Additionally NILC tenants will benefit from being able to provide single day truck transport to virtually every major city and population center in New England and the Mid-Atlantic.”

 

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