NAVADERM Inks 6,400 SF Lease at Throggs Neck Shopping Center
Simone Development Companies Welcomes Dermatology Platform at the Now 100% Leased Bronx Shopping Center
BRONX, NY – June 27, 2022 – Simone Development Companies has announced that NAVADERM has signed a 10-year, 6,400-square-foot lease at the Throggs Neck Shopping Center in the Ferry Point section of The Bronx, bringing the 12-year-old shopping center to full occupancy.
Karnit Mosberg of Royal Properties represented the owner in the deal while Avison Young’s Michael Blue represented the tenant.
NAVADERM joins a remarkable and extensive group of tenants including retailers Target, TJ Maxx, Petco, Party City, and Skechers as well as restaurants Cap’t Louis Seafood Boil, Charleys Philly Steaks, Starbucks, Applebee’s, Subway, Chipotle, Sarku Japan, among others.
“We are proud to announce NAVADERM brings the incredibly successful Throggs Neck Shopping Center to full occupancy,” said Josh Gopan, AVP of Leasing for Simone Development. “The shopping center has remained incredibly attractive to both retailers and shoppers, even as we continue to navigate the pandemic’s aftermath. The center’s diverse roster of tenants along with its remarkable accessibility and ample parking have kept it as one of the Bronx’s most sought-after shopping centers.”
Since its construction by Simone Development Companies in 2010, Throggs Neck Shopping Center has created hundreds of new jobs and boosted the borough’s economy. The 300,000-square-foot, large-scale retail development is conveniently located at the intersection of Lafayette Avenue and the Hutchinson River Parkway, boasting secure free parking for over 600 cars and anchored by a 165,000+ square-foot Target department store, one of the most active in the nation.
Matthew Holst Joins Simone Development Companies as Chief Operating Officer
BRONX, NY (June 28, 2022) – Simone Development Companies has announced that Matthew Holst, AIA, LEED AP, a veteran real estate professional with more than two decades of experience holding senior management positions, has joined the company as Chief Operating Officer.
“We are extremely pleased to welcome Matt onto our team as he personifies our key values, brings technological innovation, an outstanding track record of success, environmental sustainability and operational excellence to assist Simone in achieving our future strategic growth objectives. Matt will work alongside our executive team and oversee all internal operations,” said Joseph Simone, President of Simone Development Companies.
“We have had a tremendous history of continued growth built on a relentless focus on being tenant centric. As we continue to strategically position ourselves for future growth, it is essential that we proactively build further operational capacity and scalability into key business processes,” he added.
Prior to joining Simone Development, Mr. Holst served as Managing Director of Architecture, Construction, Marketing and Design for Fisher Brothers’ 9 million-square-foot commercial real estate portfolio. At Fisher Brothers, Mr. Holst completed more than $200 million of capital improvement projects and interior tenant improvements on schedule and under budget through innovation of design, technology, operations, leasing, marketing and proficiency of job oversight.
In his long and distinguished real estate career, Mr. Holst has also served as Chief Real Estate Officer for Ease Hospitality and as Senior Vice President of Architecture, Construction and Leasing for SL Green Realty Corp., both in New York City.
A licensed architect, Mr. Holst is a member of numerous organizations including the National Council of Architectural Registration Boards, the American Institute of Architects, and the Real Estate Board of New York, where he served on REBNY’s Management Division Board of Directors.
New York City’s Booming Life Sciences Sector Driven By Investment and Real Estate Development
New construction of life-sciences real estate in New York City is driven by ample talent pools, venture capital and government support, said Joseph Simone of Simone Development Companies.
“The New York City region is now the nation’s largest life-sciences economy with more than a dozen innovation clusters. The presence of almost 5,100 life-sciences companies in this area is a tremendous opportunity for real estate developers,” said Joe Simone, President of Simone Development Companies.
According to a new report, the life sciences economy in the New York City metropolitan area generated more than $23 billion in wages in 2021. The report by the New York City Economic Development Corporation (NYCEDC) noted that over the last decade, more than 800 new diagnostic testing labs have opened in the region, a growth of 26%.
One of the thriving innovation clusters cited by the NYCEDC report is in the Bronx’s Morris Park neighborhood, where the Montefiore-Einstein Accelerated Biotechnology Research Center will soon open. This biomanufacturing operation will focus on cell, gene, and antibody therapy production.
Simone Development Companies’ 42-acre Hutchinson Metro Center is across the street from the Albert Einstein College and Montefiore Medical Center. The campus is anchored by Montefiore, which occupies the entirety of Tower Two and parts of Tower One.
“The launch of the Montefiore-Einstein biomanufacturing operation coincides with our planned expansion of the Hutchinson Metro Center campus to include life-science-focused laboratories for medical research,” said Patricia Simone, President of Simone Management Group. “As the NYCEDC report noted, the life-sciences sector depends on proximity and interactions among researchers, funders and entrepreneurs as they develop new technologies.”
The tristate New York area has more than 5.6 million square feet of new lab space under development. In recent years, New York City clarified its land-use rules to allow more lab and research spaces.
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Simone Development Companies is a fully integrated private real estate investment and development company that acquires and develops 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, 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 creatively oriented management team, long-term asset ownership and its pursuit of visionary development.
Simone Healthcare Development and Catholic Health Break Ground for New Ambulatory & Urgent Care Center
CENTEREACH, NY (June 13, 2022) – Simone Healthcare Development, Catholic Health and Ocean State Job Lot today joined with officials from the Town of Brookhaven and Suffolk County for a groundbreaking ceremony signifying the official start of construction by Simone Healthcare Development for Catholic Health Ambulatory & Urgent Care at Centereach, a new 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 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.
Simone Healthcare Development, an affiliate of Simone Development Companies, is acquiring part of the building from Ocean State Job Lot, the largest closeout retailer in the Northeast. The company recently vacated the building and is opening a new 36,000-square-foot store on the eastern portion of the 10.4-acre property.
“We are extremely pleased to begin construction at this property. It has been an intricate process to work through the business and approval issues, but worth all of the effort to bring Catholic Health to Centereach,” said Joseph Simone, President, Simone Development Companies.
“Catholic Health is a dynamic and expanding network of integrated hospitals, physicians and outpatient care centers,” said Catholic Health President & CEO Patrick O’Shaughnessy, DO, MBA. “Our delivery of exceptional medical and surgical treatments is infused with a heavy dose of compassion and empathy. As we expand our services, with sites such as Catholic Health Ambulatory & Urgent Care at Centereach, our strategic objective is to be the most trusted health care system on Long Island.”
Catholic Health Ambulatory & Urgent Care at Centereach is the latest example of how Simone Healthcare Development, a leader in medical office and ambulatory care facility development, is revitalizing underutilized assets into modern healthcare centers. In Yonkers, NY, Simone transformed an abandoned historic building into the Boyce Thompson Center, an innovative 85,000-square-foot complex featuring medical offices and retails shops. Additionally, in Purchase, NY, Simone renovated and expanded a former executive office complex into the Purchase Professional Park, a four-building campus comprising 220,000 square feet of medical and office space in the heart of Westchester’s “Medical Mile”.
About Simone Development Companies
Simone Development Companies is a fully integrated private real estate investment and development company that acquires and develops 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, 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 creatively oriented management team, long-term asset ownership and its pursuit of visionary development.
About Catholic Health
Catholic Health is an integrated system encompassing some of the region’s finest health and human services agencies. The health system has 16,000 employees, six acute care hospitals, three nursing homes, a home health service, hospice and a network of physician practices.
Joseph Simone Says Tenant Curation is Essential to a Successful Office Campus
A new, strategic curation at Rockefeller Center underscores the importance of smartly assembling tenants to create magnetic destinations, said Joseph Simone of Simone Development Companies.
“Medical-office developments are increasingly seeing restaurants, health clubs and medi-spas in the tenant mix because tenants demand amenities and the public needs destinations,” said Joe Simone, President of Simone Development Companies. “The retail overhaul of one of America’s top tourist sites demonstrates how landlords must keep up with the latest dining trends to continue drawing crowds.”
More than a dozen new restaurants are expected to open at Rockefeller Center by early fall as part of an effort to refresh retail at the 80-year-old campus. The idea behind Rockefeller Center’s retail overhaul is that an office complex can become an enviable neighborhood that serves tenants while also drawing in the outside world.
Simone Development Companies embraced this mixed-use ethos as it built the 42-acre Hutchinson Metro Center in the northeast Bronx. The campus is anchored by the Montefiore Medical Center, which occupies the entirety of Tower Two and parts of Tower One, but the complex also includes a Residence Inn and an LA Fitness health club.
“We are working towards a retail mix that will enhance the environment for our tenants’ employees. We also recognize that our Hutchinson Metro Center must serve as a community hub where residents from surrounding neighborhoods will eventually enjoy meals, shop, and relax,” said Joanna Simone, Principal & Vice President of Leasing and Property Management Operations of Simone Development Companies.
Another curation effort is the installation of baseball fields at the Hutchinson Metro Center that will increase the campus’ community appeal. The fields will be used by local little leagues as part of an effort to bring industry and community together on an academic and life science campus that promotes both healthy lifestyles and green building technologies.
Simone Development Companies is in the process of expanding its Hutchinson Metro Center campus to include life-science-focused laboratories for medical research. The campus will sit next to a new Metro-North train station that will soon provide commuters direct access in 25 minutes to Penn Station and New York City’s other innovation corridors.
Simone Development Companies is a fully integrated private real estate investment and development company that acquires and develops 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, 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 creatively oriented management team, long-term asset ownership and its pursuit of visionary development.
Joe Simone, President and CEO of Simone Development
Joseph Simone says recent Alzheimer’s Disease grant underscores importance of research hubs for life science companies
Bronx, N.Y. (May 23, 2022) — A recent grant to investigate early-stage Alzheimer’s Disease highlights the importance of access to basic research for life science companies, said Joseph Simone of Sim
one Development Companies.
“Life science companies developing therapies for some of our society’s urgent health needs must locate close to research hospitals or institutions to effectively collaborate with scientists performing cutting-ed
ge experiments,” said Joseph Simone, president of Simone Development Companies.
In April, the National Institutes of Health (NIH) awarded researchers at the Albert Einstein College of Medicine in the Bronx a five-year, $4.2 million grant to detect behavioral markers for Alzheimer’s that emerge early in the course of the disease, before the disease can be clinically diagnosed. The research results could help scientists identify people at risk for Alzheimer’s and related problems, such as falls, and lead to new preventive strategies.
Simone Development Companies has built the 42-acre Hutchinson Metro Center across the street from the Albert
Einstein College of Medicine, which last year received more than $185 million in research awards from the National Institutes of Health.
Simone Development Companies is in the process of expanding its Hutchinson Metro Center campus to include life-science-focused laboratories for medical research. The campus will sit next to a new Metro-North train station that will soon provide commuters direct access in 25 minutes to Penn Station and New York City’s other innovation corridors.
“We recognize that life science start-ups and early-stage companies thrive on the cross-pollination that occurs in and near research hubs like the Albert Einstein College of Medicine,” said Danielle Contillo, principal of Simone Development Companies.
Research centers at Einstein focus on cancer, aging, intellectual development disorders, diabetes, clinical and translational research, liver disease, and AIDS. The college is a partner with Montefiore Medical Center, which leases part of the Hutchinson Metro Center’s Tower One and fully leases Tower Two—an 11-story, building with 12 operating rooms and four procedure rooms; an advanced imaging center; onsite laboratory services and pharmacy; as well as primary and specialty care practices.