Simone Development Signs 22,700 SF in Expansion and Renewal Leases at Hutchinson Metro Center in The Bronx, NY
BRONX, NY – November 7, 2022 – Simone Development Companies has announced that Shein Orthopaedics and law firm Peña & Kahn have both signed expansion and renewal leases at the firm’s Tower One at the Hutchinson Metro Center at 1250 Waters Place in the Bronx, NY. Ownership was represented by Josh Gopan, Simone’s Vice President of Leasing, in conjunction with in-house legal counsel. Shein Orthopaedics was represented by SVN BIOC Commercial Real Estate Advisors, and Peña & Kahn was represented by Anthony Michaels, Esq.
Shein Orthopaedics, a tenant at the Hutchinson Metro Center since 2018, signed a 6,500-square-foot long-term lease renewal while Peña & Kahn, who signed their original lease back in 2011, signed a 16,158-square-foot lease expansion and long-term lease renewal.
Shein Orthopaedics consists of a father-and-son orthopedic team with offices in both New York and New Jersey. They specialize in spine and joint care and have extensive expertise in revision surgeries as well as in muscle-sparing operations. The medical practice employs a full range of nonsurgical techniques, including physical therapy.
Founded in 1987, Peña & Kahn has grown to be one of the most respected law firms in New York City. With 20 attorneys as well as 67 other staff members, Peña & Kahn is one of the city’s leading personal injury litigation groups, with three offices across the region.
“We are incredibly thankful to Shein Orthopaedics and Peña & Kahn for their continued trust in the relationship with Simone Development at the Hutchinson Metro Center,” said Mr. Gopan. “Beyond the property’s convenient location, the Center enjoys a number of highly sought-after qualities including ample parking, great amenities and walking distance to the 6 train.”
Tower One at 1250 Waters Place is part of Simone’s Hutchinson Metro Center and offers prime office and retail space, including amenities ranging from fitness and conference centers to abundant free and valet parking and 24/7 security. In addition to Shein Orthopaedics and Peña & Kahn, the Hutchinson Metro Center is home to various medical offices including Montefiore Medical Center, Affinity Health Plan, and NY Presbyterian Medical Group, to name a few.
Joseph Simone says outpatient job growth influences medical real estate development
Bronx, N.Y. (November 4, 2022)—Joseph Simone of Simone Development Companies said recent job growth in the ambulatory services sector has healthcare developers facing increased demand for outpatient care centers.
“In the past year, we’ve seen a 10.7% increase in jobs related to ambulatory care services in New York City, with many of those new jobs in outpatient care centers,” said Joe Simone, president of Simone Development Companies. “This double-digit job growth is a signal to medical real estate developers that more outpatient care centers will be needed soon.”
According to the New York state Department of Labor, New York City’s outpatient care centers—one segment of the ambulatory care service sector—reported about 24,000 workers in September, up 6.3% from a year ago. Other ambulatory services, such as home healthcare, saw even bigger job gains, according to New York labor officials.
In many cases, the growth of outpatient care centers is driven by hospitals expanding their services. At Simone Development Companies’ Hutchinson Metro Center campus in the Bronx, Burke Rehabilitation Hospital recently held a ribbon cutting to commemorate its newly expanded Outpatient Rehabilitation Center. The new facility more than doubles the size of Burke’s former location and provides over 5,000 additional square feet of brightly lit and open space, outfitted with the latest technologies.
Demand for new outpatient real estate is also strong outside of New York City. In Centereach, N.Y., Simone Development Companies is transforming a 63,000-square-foot retail store located at 2112 Middle Country Road into the future Catholic Health Ambulatory & Urgent Care at Centereach.
“As hospitals nationwide seek to grow their presence in new markets, Simone Development Companies is ready to partner with these healthcare providers to deliver state-of-the-art facilities in locations accessible to everyone,” said Joanna Simone, principal and president of leasing and property management operations.
Joseph Simone says medical real estate developers should locate properties with equity in mind
Bronx, N.Y. (October 24, 2022)—Joseph Simone of Simone Development Companies says that medical real estate developers should choose locations accessible to a broad range of income levels to promote healthcare inclusion.
“The site-location process should consider accessibility for low-income, as well as handicapped individuals who rely on public transportation. Proximity to mass transit stations and bus lines are essential to creating an inclusive healthcare industry,” said Joe Simone, president of Simone Development Companies.
Mass-transit-reliant consumers will gain increasing healthcare options as the Metro-North Railroad opens new train stations in the Bronx. Simone Development Companies’ Hutchinson Metro Center sits next to a future Metro-North train station in Morris Park that will provide easy access from the Hell Gate and New Haven train lines.
Some of the neighborhoods near the future rail stations have large populations of medically underserved communities. According to a New York City Community Health Profile, the neighborhood surrounding the future Hunts Point Metro-North station ranks first in New York City for adults who forego needed medical care.
The Hutchinson Metro Center’s 42-acre campus is anchored by Montefiore Hospital’s 11-floor, 280,000-square-foot ambulatory care center. The patient-focused and highly streamlined facility offers more than two dozen adult and pediatric medical specialties, including cardiology, urology, and diabetes.
“The Hutchinson Metro Center is helping to deliver healthcare equity to the Bronx and surrounding communities. Simone Development Companies will continue developing this campus to optimally serve the healthcare needs of all Bronx residents,” said Patricia Simone, principal and president of the Simone Management Group.
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of healthcare, mixed-use, office, industrial, retail, and residential properties. Headquartered at the Hutchinson Metro Center, it boasts a portfolio of over 7 million square feet throughout the Bronx, Manhattan, Queens, Long Island, Westchester County, Orange and Fairfield Counties and New Jersey. With services spanning acquisition, development, construction, finance, asset management, accounting, leasing and property management, Simone Development Companies is set apart by its vertically integrated management team, long-term asset ownership and its pursuit of visionary development.
Burke Rehabilitation Opens New Outpatient Facility at Simone Development’s Hutchinson Metro Center in the Bronx
Expands Therapies to Enhance Treatment of Patients in the Community
Bronx, NY, October 26, 2022 – Burke Rehabilitation announced the expansion of its therapy services with the opening of a new site at 1250 Waters Place at Simone Development Companies’ Hutchinson Metro Center in the Bronx. Burke held a ribbon cutting ceremony on October 18 to mark the relocation and expansion of services previously provided at 2826 Westchester Avenue, another Simone Development property, where Burke had been a tenant since 2007.
Attending the ribbon cutting were Dr. Philip Ozuah, Montefiore President and CEO, and elected officials representing the Bronx, including NYS Assembly member Michael Benedetto and NYC Council member Marjorie Velazquez. Scott Edelman, Burke’s Interim Executive Director, and Dr. Mooyeon Oh-Park, SVP and Chief Medical Officer of Burke, were joined by Montefiore physicians, Burke leadership, and therapists to celebrate the opening.
The new facility more than doubles the size of Burke’s former location and provides over 5,000 square feet of brightly lit and open space, outfitted with the latest technologies. Ample patient parking is available. The facility offers five private treatment rooms, including a designated occupational therapy area. In addition to physical and occupational therapy, the site provides speech and swallowing therapy. The new long-term lease brings Burke Rehabilitation to more than 13,000 square feet on the 6th and 10th floors of the Hutchinson Metro Center’s Tower 1.
“The new therapy space at Hutch Metro will allow us to continue to provide excellent multidisciplinary rehabilitative care in a more spacious and comfortable environment,” said Site Supervisor Jonathan Mroz. “We have added several new pieces of equipment which will be utilized in providing rehabilitation for our growing number of neurologically involved patients. This new location will allow Burke to better serve the rehabilitative needs of the Bronx community by providing access to the same exceptional level of care available at our flagship outpatient location in White Plains.”
Some additional features include:
- Two oversized hi-low treatment tables
- Body weight support track system to be used for ambulation, balance, and transfer activities
- Two sets of high-low parallel bars for balance and gait training activities
- BITS balance system
- RT Xcite – a device that utilizes mild electrical stimulation to engage atrophied muscles
“We are thankful to Burke Rehabilitation for their continued trust in the relationship with Simone Development at the Hutchinson Metro Center and beyond,” said Joseph Simone, president of Simone Development Companies. “The property’s convenient location and Class A amenities make the campus a highly sought-after destination for some of the region’s leading medical, office, educational and retail tenants.”
Tower One at 1250 Waters Place is part of Simone’s Hutchinson Metro Center and offers prime office and retail space, including amenities ranging from fitness and conference centers to abundant free and valet parking and 24/7 security. In addition to Burke Rehabilitation, the Hutchinson Metro Center is home to various medical offices including Montefiore Medical Center, Affinity Health Plan, and NY Presbyterian Medical Group, to name a few.
Burke Rehabilitation is a not-for-profit healthcare organization devoted solely to acute physical rehabilitation. Its main campus is located in White Plains, NY. Founded in 1915 through an endowment from philanthropist John Masterson Burke, it has been a member of the Montefiore Health System since 2016. Burke operates the only hospital in Westchester County dedicated solely to adult and adolescent rehabilitation medicine. Burke also offers therapeutic care in locations throughout Westchester County, the Hudson Valley, and the Bronx for those who have experienced injuries, surgery, or chronic conditions, from the simple to the very complex. For additional information, visit www.burke.org or to schedule an appointment at Burke Hutch Metro 6, call (718) 515-2400.
Joe Simone Views Outdated Malls In Aging Communities As Targets For Retail-To-Medical Conversions
Joseph Simone of Simone Development Companies said more outdated malls in U.S. suburbs will become targets of retail-to-medical conversion.
“As the suburbs mature, the proportion of senior citizens—the biggest medical services consumers—increases, so healthcare providers are scrambling to identify high-traffic locations with ample parking. In many cases, the ideal locations are shopping centers with low occupancy,” said Joseph Simone, President of Simone Development Companies.
Fortune magazine recently noted that 32 enclosed malls nationwide house healthcare services as part of their footprint. Nearly a third of the malls’ medical transformations have been announced since the start of the Covid-19 pandemic, the magazine noted.
Converting foundering shopping centers into medical destinations makes sense for many suburbs built in the 1970s where young families with children no longer predominate. Centereach, N.Y. is one community that saw its population explode in the 1970s.
Changing demographics in Centereach led Simone Development Companies to consider new uses for its retail building. After a market analysis, Simone Development Companies—a retail-to-medical conversion specialist—recently broke ground on Catholic Health Ambulatory & Urgent Care. The new complex will house a multi-specialty practice featuring primary care, women’s health, behavioral health, cardiology, neurosciences, orthopedics, and several other services.
The development will transform a 63,000-square-foot former Ocean State Job Lot retail store located at 2112 Middle Country Road into a new healthcare facility. Catholic Health will lease the new building from Simone and plans to open in the Spring of 2023.
“Throughout the New York metropolitan area, we are seeing health networks announce new conversions of former retail buildings. We will work closely with some of these expanding networks to identify the best locations and secure smooth conversions,” said Joanna Simone, Principal and President of Leasing and Property Management Operations at Simone Development Companies.
AdaptHealth Inks Renewal and Expansion to Occupy Simone Development’s Entire 1185 Commerce Ave. Building in The Bronx
BRONX, NY – June 22, 2022 – Simone Development Companies has announced that full-service home medical equipment company AdaptHealth has signed a 13,256-square-foot lease expansion and renewal at Simone’s 1185 Commerce Avenue building in The Bronx. AdaptHealth is expanding its footprint from 27,845 square feet to 41,101 square feet, occupying the entire building. Simone’s Josh Gopan, Vice President of Leasing, represented ownership in the lease negotiations, while AdaptHealth was repped by Cleva/Philips Real Estate Services Corp.
AdaptHealth serves over 3 million patients annually across 47 states, making it one of the foremost companies in home medical equipment services. Through their network of local suppliers, AdaptHealth offers a wide breadth of clinically driven products and services designed to help patients adapt to life in the home including sleep and respiratory therapy, diabetes management supplies, mobility products, wound care, non-invasive ventilation, and nutrition.
“We are thrilled to announce AdaptHealth is expanding their footprint at 1185 Commerce and taking over the full building,” said Josh Gopan, Vice President of Leasing at Simone Development. “AdaptHealth was first attracted to 1185 Commerce Ave in 27,845 square feet and their expansion is a testament to the building’s ideal location as well as its unique characteristics, including 17-foot ceiling heights, loading dock and overhead doors and expansive outdoor space.”
Simone Development’s 1185 Commerce Ave is a newly renovated industrial building made up of 41,101 square feet of warehouse and office space as well as 30,452 square foot of available land space. The property is walking distance from the #6 train and ideally located near both the Hutchinson River Parkway and the Cross Bronx Expressway, providing access to the rest of the city as well as the Tri-state area and beyond. The property is also close to several retailers including Target and Home Depot.