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Simone Development Sells Former RUCO Polymer Corp. Site to Developer for Future Warehouse/Distribution Project

BRONX, NY (August 16, 2021) — Simone Development Companies has announced the sale of the 15-acre former site of the RUCO Polymer Corp. in Hicksville, NY (Nassau County, Long Island). The buyer, a Brookfield Asset Management real estate fund, plans to develop a modern, high ceiling warehouse distribution center on the site. Terms of the sale were not disclosed.

Jim MacDonald, vice president of leasing for Simone development, represented the seller in negotiations and Paul Leone of CBRE represented the buyer.

“Well-located industrially zoned land for development is extremely rare and Simone Development is extremely pleased to find a buyer well-equipped to realize the site’s full potential,” said Joseph Simone, president of Simone Development. “With its close proximity the Long Island Expressway, as well as an existing rail spur, the site is well-positioned for industrial development to meet the needs of then growing e-commerce market.”

The Rubber Company of America (RUCO) built a manufacturing facility on the site in 1945, where RUCO Polymer Corp. (Hooker Chemical Company) manufactured plastics, latex, and esters. Occidental Chemical Corporation (OCC) owned and operated this site from 1966 to 1982. The site was later purchased by Sybron Corporation to produce polyester from 1982 to 2002. The Bayer Corporation purchased the site in 2000 and in 2002 decided to close the facility and demolish the existing buildings. The facility was a freight customer of the LIRR and New York and Atlantic Railway, served by a spur track off the Main Line next to the grade crossing at New South Rd.

2021-09-02T15:09:21-04:00August 16, 2021|
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Simone Development Companies and Fareri Associates Announce 21,518 Square Feet of New Healthcare Leases at Their Purchase Professional Park Campus

Purchase, NY (August 2020) — Building on their reputation as the region’s premier developers of state-of-the-art healthcare facilities, Simone Development Companies and Fareri Associates have announced 21,518 square feet of new leases at their Purchase Professional Park campus on Westchester Avenue.

“We are very pleased to announce this latest round of leasing activity at Purchase Professional Park. Healthcare is the fastest growing industry sector in our region and Purchase Professional Park is leading the way as the location of choice for today’s medical practices. We offer an unbeatable combination of outstanding amenities, accessibility and abundant parking in an attractive campus setting,” said Joanna Simone, Principal and Vice President of Leasing and Property Management Operations of Simone Development Companies.

The landlord signed leases at 3010 Westchester Avenue with Westchester Park Pediatrics, a pediatric and adolescent medical practice, for 8,300 square feet, and International Research Services, a cosmetic testing company, for 5,771 square feet. Schweiger Dermatology Group leased 2,510 square feet at 3010 Westchester Avenue and was represented by Patricia Valenti of Newmark Knight Frank. Additionally, Dr. Jeremy Brauer Dermatology leased space at 3000 Westchester Avenue and was represented by Derek Ritter of SQ/FT Commercial Brokerage. Matthew Lisk, Michael McCarthy and Kevin McCarthy of Cushman & Wakefield represented the landlord on all lease transactions.

Situated on Westchester Avenue in the heart of Westchester’s “Medical Mile” along I-287, Purchase Professional Park combines first-class medical and professional office space, exceptional amenities and one of the most convenient office locations in the region. The park-like campus features four modern buildings (3000, 3010, 3020 and 3030 Westchester Avenue) totaling 220,000 square feet of Class A medical and office space. 3030 Westchester Avenue is an 85,000 square-foot medical building that is fully leased to Westmed Medical Group, a large multi-specialty group medical practice.

In addition to Westmed Medical Group, some of the park’s medical tenants include Burke Rehabilitation, ENT & Allergy Associates, Greenwich Hospital, Northern Westchester Hospital Associates, Rye Orthopedic Associates, Greenwich Oral & Maxillofacial Surgery Associates, Merit Dental Inc; Liberty RC, Inc AKA Davita and Lederman & Lederman, LLOP.

Amenities at Purchase Professional Park include a cafe, which is undergoing a renovation to be completed in the summer of 2021, a fitness center, 24/7 building access with camera security, a beautifully landscaped courtyard with seating areas, on-site owner management and abundant complimentary parking. In addition to the Café, The Espresso Guys Coffee Truck visits the complex daily for additional food and coffee needs. The complex offers a highly visible and convenient location at Exit 10 off of I-287, with access to major highways including I-95, I-684 and the Hutchinson River/Merritt Parkways, and is just minutes away from the Westchester County Airport and Metro-North train stations in Rye, Harrison and White Plains, providing access to the growing suburban patient base in Westchester, Fairfield and Putnam counties.

Cushman & Wakefield is the exclusive leasing agent for Purchase Professional Park. For more information about available space for lease at Purchase Professional Park, call Matthew Lisk at 914-305-9303.

2021-09-02T15:09:01-04:00August 11, 2021|
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Simone Development Companies Welcomes Charleys Philly Steaks to Throggs Neck Shopping Center

BRONX, NY (August 2021) — Simone Development Companies has announced that Charleys Philly Steaks has signed a 10-year, 1,500-square-foot lease at the Throggs Neck Shopping Center in the Ferry Point section of The Bronx. Charleys Philly Steaks is expected to open to the public in late Fall, marking the national franchise’s second location in The Bronx and fifth in New York City.

“We are thrilled to welcome a national brand like Charleys Philly Steaks to one of the city’s most successful shopping centers,” said Josh Gopan, AVP of Leasing for Simone Development. “Since its opening, Throggs Neck Shopping Center has been extremely attractive to retailers, with the Target among the most active nationally. The successful development has created hundreds of new jobs and boosted the borough’s economy. The shopping center is a testament to Simone’s dedication of repurposing vacant and under-utilized commercial property in the New York metropolitan area.”

Charleys Philly Steaks joins an extensive and diverse roster of tenants including retailers Target, TJ Maxx, Petco, Party City, and Skechers as well as restaurants Starbucks, Applebee’s, Subway, Chipotle, Sarku Japan, among others. Karnit Mosberg of Royal Properties represented both the tenant and the owner in the long-term lease. Throggs Neck Shopping Center is now 98% occupied, with just 6,400 square feet of inline and 2,200 square feet of end cap space available for lease.

Throggs Neck Shopping Center is conveniently located at the intersection of Lafayette Avenue and the Hutchinson River Parkway. The borough’s 300,000-square-foot, large-scale retail development boasts secure free parking for over 600 cars and is anchored by a 165,000+ square-foot Target department store.

2021-09-02T15:10:14-04:00August 9, 2021|
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Healthcare Real Estate Developer Joe Simone Sees Boom in ‘Medispas’ Spurring Medical Office Makeovers

BRONX, NY (August 9, 2021) — Healthcare real estate developer Joseph Simone foresees big investment in medical office makeovers as doctors jump on the medical spa bandwagon.

“A national boom in consumer demand for medispas has medical practices and hospitals turning to real estate developers for new locations or renovations of existing offices, lounges and treatment rooms to deliver a spa environment,” said Joe Simone, President of Simone Development Companies. “Consumers willing to spend big money on cosmetic lasers, injections and other elective procedures expect new levels of comfort from their providers.”

A recent article in Medical Economics estimated that the medical spa market is expected to reach $33.9 billion by 2026, with a compound annual growth ratio of 13.8%.

“Once the realm of estheticians and dermatologists, medical spas are increasingly seen by medical practices and hospitals as a revenue stream that allows established healthcare groups to bring their brand recognition to a booming field,” said Joseph Simone.

Big retailers are also jumping on the medispa bandwagon. Earlier this year, Jack Nathan Health, a company that operates medical clinics inside Walmarts in Canada and Mexico, announced that it is expanding to eight more Walmarts in Canada to offer cosmetic injections, including Botox.

“The growing interest in wellness and self-care means that medical providers must reevaluate sterile medical office environments,” said Joe Simone. “Simone Development Companies is ready to partner with medical groups to design successful medical spas.”

2021-09-02T15:08:38-04:00August 9, 2021|
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Real Estate Developer Joe Simone Says Increase in Knee Replacements Will Fuel Ambulatory Surgical Center Expansion

A projected increase in knee replacement surgeries will fuel the growth of ambulatory surgical centers, according to healthcare real estate developer Joseph Simone.

“We are experiencing a revolution in knee replacement technologies that are allowing doctors to perform minimally invasive surgeries that do not require hospital settings,” said Joe Simone, President of the Simone Development Companies, a leading developer of healthcare facilities. “For real estate developers, that means we will see greater demand for new ambulatory surgical centers as increasing numbers of the active elderly seek solutions to joint pain.”

In June, Renub Research Analysis published a report on the global knee replacement market. Renub predicted that in the United States, the value of knee replacements will rise from $8.02 billion in 2020 to $12.87 billion by 2027, a compound annual growth rate of 6.99%.

“Knee replacements will become more common and most of them will occur in the types of ambulatory surgical centers that Simone Development Companies have built, such as the Montefiore Hutchinson Campus in the Bronx, NY,” said Joseph Simone. “By 2040, the Centers for Disease Control and Prevention estimated that 78 million adults in the U.S. will be diagnosed with arthritis.”

Patient interest in ambulatory surgical centers accelerated during the Covid-19 pandemic, when many hospitals were closed to patients who did not need life-saving interventions. Many patients who needed elective surgery like knee replacements were also reluctant to enter any facility that resembled a hospital for fear of contracting Covid-19.

“The construction of ambulatory centers has been strong for years, but with the pandemic and innovations in surgical procedures, the demand for these facilities is exponentially expanding,” said Joe Simone. “We are actively partnering with hospitals and other healthcare providers to identify locations for new construction.”

2021-09-07T14:14:44-04:00July 23, 2021|
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Joseph Simone, President of Simone Development Companies Sees Aging Baby Boomers Behind Healthcare Real Estate Growth

Real estate developer Joe Simone says that a recent U.S. Census report demonstrates how aging Baby Boomers are driving growth in healthcare real estate and jobs.

“The expansion of healthcare complexes nationwide is partly due to the aging Baby Boomers, who as they age require more medical services,” said Joseph Simone, President of the Simone Development Companies, a leading developer of healthcare facilities. “The oldest Baby Boomers are now 75. I foresee the demand for nursing homes, assisted living, rehabilitation centers and ambulatory facilities to quickly grow to accommodate a surge in the elderly population.”

U.S. Census reported last month that from 2010 to 2019, the percentage of the population 65 and older grew nationally (from 13.1% to 16.5%) in all 50 states and the District of Columbia. This growth in the elderly population is affecting the national job market. According to the U.S. Bureau of Labor Statistics, registered nursing is listed among the top occupations in terms of job growth. Employment of registered nurses is projected to grow 7 percent from 2019 to 2029, faster than the average for all occupations.

“All these new nurses will find employment in new or expanded healthcare complexes. Real estate developers will be very busy over the next decade delivering new buildings where the growing ranks of health practitioners will work,” said Simone.

Healthcare providers are already positioning themselves to receive the aging Baby Boomers, who demand convenience and amenities. Simone Development Companies renovated Mount Sinai Doctors’ 80,000-squar-foot facility in Greenlawn, NY to create a modern physical plant that conforms to current design standards and provides a high-quality patient experience.

“Healthcare real estate developers must take the Census and BLS numbers seriously and identify new building sites,” said Simone. “Yesterday’s doctors’ offices are not equipped to handle the coming wave of aging Baby Boomers.”

2021-09-07T14:28:37-04:00July 12, 2021|
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