Updated Mar 18, 2025
Matrix Development Group Leases 927,000-Square-Foot Building In Newburgh, NY To Tesla For Automotive Parts Distribution Facility
1396 Route 300
$12
$12/SF
Building Size
927,000 SF
Asset Type
Industrial
Closing
Aug 4, 2023
About this deal
AI
Matrix Development Group has leased a 927,000-square-foot building at its Matrix Logistics Center in Newburgh, N.Y., to Tesla for a regional automotive parts distribution facility. The building is located at 1396 Route 300 in Newburgh. The lease transaction took place on August 4, 2023. The asset type involved in this lease is industrial.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 927,000
- Address: 1396 Route 300, Newburgh, NY
- Market: Newburgh
The landlord, Joseph Taylor, represents Matrix Development Group. The tenant is Elon Musk's company, Tesla. Joseph Taylor is the representative of Matrix Development Group in this lease deal.
On the Map
$12
$12/SF
Industrial
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Players
Newburgh Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1321916.67%
Cash-on-Cash
-377807.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93