GOSHEN – As businesses are reopening in the Mid-Hudson Valley, COVID-19 still remains a worldwide pandemic, yet interest in commercial and industrial space continues strong.
In Orange County, developers are looking at building projects, many on speculation, that would total in the millions of square feet.
Orange County Partnership President Maureen Halahan said several proposals are in one stage or another of planning approval.
“Spec proves confidence in the market. No developer would invest millions sometimes to get properties completely ready to go and then millions more to construct a building with no one leased or on the hook,” she said. “The other thing is the e-commerce and distribution is not going to slow down.”
Among the projects under consideration in Orange County is a five-building speculative commercial project in the Town of Wallkill that could total more than one million square feet.
In Montgomery, a New York City company is interested in a 1.2 million square foot spec distribution center and in the Village of Goshen, a Boston company will be constructing a 500,000-SF industrial facility.
