Tesla leases 927,000 square foot warehouse in New York

Matrix Development Group, a real estate investment and development group, announced this week Tesla has signed a lease for a 927,000 square foot warehouse at the Matrix Logistics Center in Newburgh, New York.

According to Matrix, Tesla will occupy the space in October and use it as a parts distribution center. The Matrix Logistics Center, a two building industrial complex, is considered to be a strategic location in close proximity to the New England and the Mid-Atlantic corridors, also providing immediate access to key thoroughfares including the New York State Thruway, I-84, and Route 300.

“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. 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. We are delighted that Tesla chose us, and are thoroughly enjoying our collaboration with them,” said Matrix Development Group Partner Alec Taylor. (via Hudson Valley Press)

When the site opens in October Tesla will employ about 150 people, before growing that workforce to about 300 next year as the facility ramps up.

Tesla is no stranger to signing leases for large facilities, but this is one of the largest. The company’s real estate portfolio includes another nearly 1 million square foot warehouse outside Houston, Texas. The company has also recently signed a lease on a new 245,000 square foot warehouse in Marysville, Washington. In June Tesla also leased a large manufacturing facility in California that is expected to be used for the production of the company’s 4680 battery cells.

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