Matrix Development Group Signs Tesla to Lease

NEWBURGH — Matrix Development Group, one of the region’s most active and well-respected real estate investment and development companies, announced that it has signed global auto manufacturer Tesla to a 927,000-square-foot-lease at Matrix Logistics Center, a two-building industrial complex at 1396 Route 300 in Newburgh, N.Y.

Tesla will use the property as a distribution facility for automotive parts commencing in October. In selecting Matrix Logistics Center, Tesla was drawn to Newburgh’s strategic proximity to both New England and the Mid-Atlantic corridor, and the property’s immediate access to the New York State Thruway, I-84, and Route 300.

“Matrix Logistics Center capitalizes on the micro asset of extremely convenient access to highways and the macro asset of reach within the broader Northeast context,” said Matrix Development Group Partner Alec Taylor. “Matrix has had great success in the region over the last decade, and we will continue our expansion within Orange Country. We are delighted that Tesla chose us, and are thoroughly enjoying our collaboration with them.”

Matrix’s Orange County holdings also include the Matrix Business Park at Newburgh; the Chester Distribution Center; and the Matrix Distribution Center in Middletown.

“With the market for industrial space extremely tight, there are very few high-quality logistics facilities that can accommodate operations the size of Tesla’s, and the ability to obtain nearly a million square feet in a single building was a critical factor for them,” said Taylor. “In choosing to locate to the Matrix Logistics Center, Tesla will also benefit from Orange County’s growing labor pool, which is particularly valuable in today’s tight labor market.”