Chipotle to Open New Bronx Location at Simone Development’s Hutchinson Metro Center Atrium
BRONX, NY – September 12, 2023 – Simone Development Companies has announced Chipotle Mexican Grill has signed a long-term, 2,957-square-foot lease at the firm’s Metro Center Atrium, located at 1776 Eastchester Road within the Hutchinson Metro Center complex in the Bronx. Josh Gopan, Vice President of Leasing at Simone Development, and in-house counsel Patrick Doyle represented ownership alongside Chris Walther and Miles Mahony of RIPCO Real Estate. Chipotle was repped by Ben Weiner and Joanne Argenti of RIPCO Real Estate.
Chipotle operates over 3,100 locations in the U.S, including over 55 in New York City alone. Their latest location at The Hutchinson Metro Center Atrium, serving the Pelham Bay and Morris Park neighborhoods in the Bronx, features an enhanced beverage menu offering margaritas and beer in addition to fountain and bottled refreshments.
“Chipotle is the perfect addition to an already robust offering at The Hutchinson Metro Center Atrium,” said Josh Gopan, Vice President of Leasing at Simone Development. “The fast casual restaurant was attracted to our mixed-use complex due to its ideal location, generous onsite parking, 24/7 security, and outstanding tenant roster, including one of the borough’s only major flag hotels.”
Simone Development’s Hutchinson Metro Center Atrium is a 360,000-square-foot mixed-use complex featuring three floors of Class A office and medical space, as well as retail and a 125-room Residence Inn by Marriott. The property features a remarkable glass atrium and lobby, as well as more than 1,100 onsite parking spaces. The retail spaces at the Atrium are now fully leased.
Chipotle joins several well-known retail tenants at the Hutchinson Metro Center Atrium, including LA Fitness, Dunkin Donuts, A_Z Nutrition, and Residence Inn by Marriott. The property is also home to several healthcare related tenants including Affinity Health Plan, Montefiore’s Division of Plastic Surgery and Department of Medicine, as well as Freedom Center Home Dialysis and Hanger Clinic Prosthetics and Orthotics.
About Simone Development Companies
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 expertise 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.
Simone Development Announces Signing Two New Retail Leases Totaling 3,552 SF at Boyce Thompson Center in Yonkers, NY
YONKERS, NY (July 2023) – Simone Development Companies has announced signing two new leases totaling 3,552 square feet of retail space at the Boyce Thompson Center at 1086 North Broadway in Yonkers, NY. Enbu Asian Fusion, a Japanese/Asian fusion restaurant, is leasing 2,580 square feet of space at the mixed-use center. SoYo Nails, a nail salon, is leasing 972 square feet.
Built in the early 1900s, the historic Boyce Thompson Center has been transformed by Simone Development into a premier 85,000-square-foot mixed-use center featuring a variety of medical and retail tenants. Medical tenants include St. John’s Riverside Hospital, Westmed Medical Group, Columbia Doctors, Mount Sinai Doctors, ENT and Allergy Associates, Motion PT, Metro Vein Centers and Riverside Dental Health. Retail tenants include Tompkins Mahopac Bank, Ultimate Spectacle, Family Wellness Pharmacy, The Taco Project, Starbucks, Executive Wine & Spirits, fresh&co, and Fortina Restaurant.
“We are delighted to welcome Enbu Asian Fusion and SoYo Nails to our growing roster of retail tenants at the Boyce Thompson Center. These businesses are a great amenity not only for those who work at the Boyce Thompson Center and for patients visiting our medical tenants, but for the entire surrounding Yonkers community,” said Josh Gopan, Vice President of Leasing at Simone Development.
Representing Simone Development in both transactions were Josh Gopan, Vice President of Leasing at Simone Development, along with Michael Hansen from the company’s legal team. Enbu Asian Fusion was represented by Laurence London of Laurence London & Co. Karnit Mosberg of Royal Properties represented SoYo Nails in the lease transaction.
Simone Development Companies Diversifies Shopping Centers To Suit Contemporary Consumers
Securing experiential and service-oriented tenants is key to maintaining vibrant shopping centers in the e-commerce era, said Joseph Simone of Simone Development Companies.
“As big-box retailers shrink their footprints or close locations, shopping center owners are increasingly challenged to identify experiences and personal services that can bring more foot traffic to retail destinations,” said Joe Simone, President of Simone Development Companies. “Across the country, we’re seeing the rise of health clubs, experiential retail and urgent care at shopping centers.”
In New Rochelle, N.Y., LA Fitness recently opened a 36,000-square-foot gym in a strip shopping center owned by Simone Development Companies and G&S Investors. LA Fitness now occupies the majority of a two-story, free-standing structure at 75 Nardozzi Place. The health club is adjacent to a cluster of 30 beauty and personal service businesses housed within My Salon Suite of New Rochelle and destination retail like PXG Westchester, a golf franchise whose amenities include interactive swing simulators and a practice putting green.
According to data from the retail-analytics firm Creditntell, a retailer located in a shopping center with a health club receives about 2.5 percent more monthly visits compared with a similar retailer in a shopping center with no fitness tenant.
The presence of an LA Fitness as an anchor at another Simone Development property at 262 Boston Post Road in Port Chester, N.Y., helped to attract new businesses. Nothing Bundt Cakes, Nailed It Spa and European Wax Center recently opened at that revitalized location.
“We recognize the value that fitness businesses bring to shopping centers, particularly in terms of early-morning and evening foot traffic,” said Joanna Simone, Principal and President of Leasing and Property Management Operations at Simone Development Companies. “Some prospective tenants specifically seek shopping centers with health clubs because their services align with the healthy lifestyles promoted by the gyms.”
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.
Joseph Simone says New York City’s land-use initiatives will deliver more housing and jobs
New York City’s plans to update neighborhood land uses will help businesses, create more housing, and promote sustainability, said Joseph Simone of Simone Development Companies.
“New York City’s ambitious plans for reducing greenhouse gas emissions include creating new job districts and allowing taller apartment buildings near train stations to reduce single-passenger car use. This policy will improve New Yorkers’ connections to new employment districts emerging near mass transit facilities,” said Joe Simone, President of Simone Development Companies.
The modernization of New York City’s land use rules is part of Mayor Eric Adams’ goal to build 500,000 new homes over the next decade. Under the mayor’s “Build Everywhere” initiative, up to 6,000 new housing units will be built in the East Bronx by 2027 near four new Metro-North Railroad stations also expected to open that same year. The Build Everywhere push in the East Bronx is projected to create 10,000 jobs near the new train stations, allowing workers to sustainably commute by public transportation.
One of the East Bronx neighborhoods targeted by the Build Everywhere initiative is Morris Park, already home to a large job center due to the presence of hospitals, the Albert Einstein College of Medicine and affiliated healthcare businesses. Simone Development Companies’ Hutchinson Metro Center represents a significant portion of the area’s employment numbers, and it sits next to the future Morris Park Train Station.
The Hutchinson Metro Center is a 42-acre, mixed-use campus planning a 33-acre expansion that may include life science labs, medical offices, and destination retail, among other uses.
“Simone Development Companies supports New York City’s effort to increase the quantity and quality of workforce housing, which is critical for the hospitals in Morris Park and for employers considering locating in our campus or anywhere in the region,” said Patricia Simone, principal and president of 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.