The project will involve an initial $8-million investment, which includes property acquisition, construction and equipment purchases. The new building will total 72,000 sf and feature 49,000 sf of dock space that will house 166 loading bays, 7,000 sf of office space and a 16,000-sf shop.
Overnite Transportation officials say the company has the capability to add another 28,000 sf to the building that would accommodate another 64 loading bays sometime in the future. Construction on the project has begun and the company hopes to take occupancy of the building in the first quarter of 2005.
Maureen Halahan, president and chief executive officer of the Orange County Partnership, says, "One of the most important factors for the company was infrastructure improvements at Exit 5 of Interstate 84. RJ Smith's team initiated an intense advocacy effort with the Department of Transportation to ensure an expedited schedule and their work really paid off."
Richard J. Smith, broker/owner of RJ Smith Realty of Pine Bush, represented the seller of the property local farmer John Mazur. The sale price of the 30.6-acre parcel was approximately $1.5 million.
Robert Pardon, manager of real estate and construction for Overnite Transportation, says the site's location at a key transportation network hub and Orange County's affordable business costs keyed the deal. "The Neeleytown Road corridor provides our drivers with easy access to Interstate 84 and the New York State Thruway opening up much of the Northeast business corridor," he says.
The company will receive $250,000 in assistance from New York State's Empire State Development agency. In addition, the company has applied with the Town of Montgomery's Industrial Development Agency for tax abatements associated with the construction of the project.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.