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Matrix Development Group Leases 927,000-Square-Foot Building In Newburgh, NY To Tesla For Automotive Parts Distribution Facility
LEASED
$12
New York
See Similar DealsIndustrial927,000 SF
Leased 08/04/2023
LEASED
Matrix Development Group Leases 927,000-Square-Foot Building In Newburgh, NY To Tesla For Automotive Parts Distribution Facility
1396 Route 300
See Similar DealsIndustrial927,000 SF
Leased 08/04/2023
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$12
Total Square Footage:927,000 SF
Transaction Type:Lease
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.
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$13,283,770.15
Total Lease Value
$132,837,701.52
Net Landlord Cash Flow$13,283,770.15
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