The land is located in what Orange County, NY refers to as the"Golden Triange," the area between the New York Thruway, Interstate84 and Route 17. This puts the location 25 minutes from StewartInternational Airport, one hour from New York City and just northof the Sussex County border with New Jersey.

"[Panattoni has] gone to the market and located strategic piecesof land on which they would develop," Tomasulo tells GlobeSt.com.With recommendations for this property, "Pattatoni has sought theapprovals" and "with those approvals in hand, they closed on theproperty," he explains.

Panattoni would not divulge the amount it paid for the land, butTomasulo explained that the project cost, when complete, wouldtotal in excess of $50 million. With easy access and broad zoningrestrictions, the buildings can be designed for office, executiveoffice, lab & research, distribution or industrial facilities,Tomasulo points out. The proximity to highways make the price abargin, compared to areas of comparable distance from New York,such as Stamford, CT; which rents space for roughly $48.19 per sffor office. Panattoni is also letting companies purchase theirspace in the park with signage options.