PRESS RELEASE
Busy Year for Simone Development with More Than 100,000 SF in Leases Signed for Office and Medical Space
Hutchinson Metro Center Attracting Medical and Governmental Tenants by Offering Class A Space with New Amenities and Services in a Convenient Location
BRONX, NY (January 2011) – It was a busy year for Simone Development’s commercial properties in the Bronx where more than 100,000 square feet of Class A office and medical space was leased in 2010.
The Hutchinson Metro Center, the company’s flagship commercial property, reported a number of significant medical leases in 2010, most notably leases by Montefiore Medical Center’s orthopedic specialties department, Calvary Hospital’s administrative offices and an expansion lease by Beth Abraham’s Comprehensive Care Management program.
Conveniently located off the Hutchinson River Parkway in the Bronx, the Hutchinson Metro Center has emerged as one of the region’s premier locations for medical practices with over 225,000 square feet of medical space leased at the 42-acre complex.
The Hutchinson Metro Center offers many benefits to medical tenants including custom-built medical suites, first-class amenities, suburban campus setting, free parking and free shuttle to nearby subway. The complex is also convenient for ambulettes and has diagnostic and physical therapy services on site. The Hutchinson Metro Center is also less than a mile from four major medical institutions in the Bronx.
In addition to attracting medical practices, the Hutchinson Metro Center has become a popular location for federal, state and city agencies. In September, the U.S. General Services Administration (GSA) signed a long-term lease for approximately 20,000 square feet for a New York Field Office of the Bureau of Alcohol Tobacco and Firearms (ATF). The ATF’s New York Field Office, which is moving from a location in Queens, will occupy an entire floor in Tower One, a 280,000 square foot Class A office building at 1250 Waters Place.
Other governmental entities located at the Hutchinson Metro Center include the U.S. Internal Revenue Service, New York City Housing Authority and the New York City Administration of Children’s Services, all of which occupy significant blocks of space in the main office building at 1200 Waters Place.
The Hutchinson Metro Center has become particularly attractive to governmental agencies now that the City of New York is constructing its new 911 Call Center on a 10-acre site adjacent to the office complex. The new 550,000-square-foot building is part of a major overhaul of the city communications network. It will house the call-taking and dispatch operations among police, fire, and emergency medical responders.
One of the keys to the continued success of the Hutchinson Metro Center has been Simone’s commitment to providing the finest amenities and services designed to make the complex convenient for its business and medical tenants.
Throughout 2010 a number of significant new amenities were added to the complex including a full service branch of Hudson Valley Bank, an on-site pharmacy, a new bistro-style cafeteria in Tower One and an on-site Executive Car Wash & Car Detailing Center.
Other major improvements at the complex include construction of a new covered parking garage and a new guardhouse at the entrance to the 1200 and 1250 Waters Place buildings. As 2010 came to end, construction began on a new public street that will serve the Hutchinson Metro Center as well as the new 911 Call Center. Completion of the new street – to be called Marconi Street – will bring MTA bus service to the complex for the first time.
The new amenities and services bolster an already impressive roster that includes a full service Metro Café, fitness center, state-of-the-art teleconferencing center, on-site child care facility, attended gatehouse with 24/7 security, landscaped courtyards with gardens and seating/dining areas, ATM, dry cleaners and sundry shop. There is also abundant free parking on the site as well as a complimentary shuttle to nearby subway. For leasing information about the Hutchinson Metro Center, please call (718) 518-8600 ext. 105. For more information, visit www.hutchmetrocenter.com
The success that Simone has enjoyed in attracting medical tenants is not limited just to the Hutchinson Metro Center. Last year the company also announced signing more than 32,500 square feet of medical leases at 2510 Westchester Avenue in the Bronx.
The 60,000-square-foot building, which was the former Verizon Call Center, was acquired by Simone and completely renovated inside and out. Among the medical tenants leasing space in the building are Integrated Medical Professionals which leased 19,500 square feet for its urology division. The custom-built medical space features a state-of-the-art linear accelerator used in the treatment of prostate cancer.
Located just steps away from the Westchester Square Station, 2510 Westchester Avenue is ideally located for business and medical practices with direct access to bus and train service. The building also has an on-site parking garage. Approximately 20,000 square feet is available for lease with space starting at 1,000 square feet.
In addition to its portfolio of commercial space, Simone also owns and manages industrial space throughout the region. In the Bronx, the company is currently developing a 200,000-square-foot warehouse property that was the former London Foods facility. The property is located at 1776 Eastchester Avenue adjacent to the Hutchinson Metro Center complex and offers easy access to major highways. In other industrial leasing activity, 1200 Zerega Avenue, an 85,000-square-foot industrial/flex building, was completely leased, and an 83,000-square-foot warehouse/office facility at 979 Brook Avenue was renovated and converted into a self-storage facility.
In other development news outside of the Bronx, Simone announced in the fall that the One Hunters Point and Hunters View luxury condominium towers in Long Island City were more than 90 percent sold and occupied with over 185 sales. One Hunters Point features 131 one-, two- and three-bedroom luxury residences, with most offering spectacular waterfront views of the Manhattan skyline. Hunters View features 73 one- and two-bedroom residences and the same high quality finishes and lifestyle amenities as One Hunters Point, as well as panoramic views of the Manhattan skyline.
In the northern suburbs of Fairfield County, Simone began construction of a new 36,000-square-foot retail/office/medical building at 644 West Putnam Avenue in Greenwich. A major retail tenant – CVS Pharmacy – has already signed a lease for space in the building. Occupancy is scheduled for this Spring. Simone is developing the project in partnership with Fareri Associates, a Greenwich-based real estate development firm whose president is John Fareri.
Simone Development Companies is a full service real estate investment company specializing in the acquisition and development of office, retail, industrial and residential properties in the tri-state area. The privately held company owns and manages an extensive range of commercial projects from multi-building office parks to retail and industrial space in Westchester County, Queens, the Bronx, Long Island and Connecticut. The company’s portfolio of more than 90 real estate properties totals approximately 4 million square feet of development space.
# # #
