Although his company hailed from New Jersey, the Frassetto Companies’ Co-Founder Albert J. Frassetto’s belief in the viability of Orange County as a key location for business commerce, has been critical in the county’s economic growth in both good times and in bad.
The Orange County Partnership was saddened to learn of the passing of Albert Frassetto on May 20 at the age of 87 in Palm Beach, FL. An active member of the Orange County Partnership, Mr. Frassetto, a former resident of Saddle River, NJ, and his company were bestowed with the Orange County Partnership’s Most Valuable Partner (MVP) Award 20 years ago (2004).
The Middletown Times-Herald Record reported during the Partnership’s annual breakfast at Anthony's Pier 9 that Partnership President Maureen Halahan praised the “vision and venturesome spirit” of the Frassetto family, who at the time had built eight spec buildings in Orange County.
One of the first projects built by Frassetto in Orange County was a 15,000-square-foot retail project (the Stone Ridge Mini Mall) in the late 1990’s on Route 211 in Middletown, which included such tenants as: Deborah Kay’s Bridal Shop, The US Postal Service, Arnold Bakery and China Star Restaurant.
The firm eventually engaged in highly successful speculative industrial projects in Orange County and elsewhere in the tri-state region. The Frassetto Companies remain an active developer and one of Orange County’s largest commercial property owners. Its projects over the decades have garnered headlines and fueled major economic growth and job creation in Orange County.
The list of its tenants boasts some of the top companies in the county, including: Amscan Party, Durasol Awnings, Pep Boys, Shaw/Emcon, Lighting Management, Chromalloy, Fresenius Medical, Piller, Inc., Tesa Tape, Electrograph Systems Floors, Inc., Eagle Battery, Etak Corp., Pratt & Whitney/United Technology, Applied Medical Distribution Corp., Chrysler Group, Simplex Grinell/Johnson Controls, SWS Wines, Red Bull, Sonneman, Inc., Home Trade USA, Pearl River Pastry, Safelite, Lion HVAC, AZ Industries, Kurz Transfer, Pepsi/BFY Brands, Lincare, Inc., Grow Gen/MMI Storage, Milmar Food Group, New Shining Image and AEX Group.
The firm, which began operations more than 60 years ago, has concentrated its development activities in Orange County to mainly high-tech industrial properties in Middletown/Town of Wallkill, Harriman and Montgomery. Its development portfolio includes 28 Industrial Drive, 45 Turner Drive, 54 Turner Drive, 60 Turner Drive, 103 Tower Drive, 105 Tower Drive and 225 Tower Drive in the Middletown/Town of Wallkill area: 2 Commerce Drive and 4 Commerce Drive in Harriman and 18 Leonards Drive in Montgomery.
Albert Frassetto was born in Hackensack, NJ and was a graduate of Hackensack High School. He was the co-founder of Frassetto Construction Company which focused on state highway work specializing in the installation of “Jersey Barriers” and curb work. The company’s success in road construction catapulted it into developing commercial real estate buildings, with a focus on commercial industrial parks in the Tri-State area. To this day, Frassetto is also one of the largest privately-owned real estate owners in the State of New Jersey.
In addition to his long-standing membership with the Orange County Partnership, he was also a longtime member of the National Association of Industrial and Office Parks (NAIOP). Albert was also involved in the horseracing industry. He was a multi-grade 1 winning owner and breeder of thoroughbred racehorses for more than 50 years.
President and CEO, Maureen Halahan will always remember him for his grace, business acumen and commitment to Orange County. He is survived by his loving and devoted wife of 55 years Diana, and his three beloved sons, John Albert (Denise), Dominic (Gina), and Christopher (Karin), as well as his eight grandchildren William, Elizabeth, Nicholas, Jack, Brandon, Alexander, Madison, and Christiana. He is also survived by his brother Salvatore.
