Joseph Simone says outer-ring properties will meet New York City life science expansion
Bronx, NY (November 21, 2022) — Outer-ring corporate office parks will help satisfy New York City’s booming life-science sector’s need for new lab and back-office space, said Joseph Simone of Simone Development Companies.
“The limited amount of land in New York City and the expense of building in dense locations like Manhattan will motivate some life science companies to consider locations in the outer boroughs or the near suburbs that are connected to New York City,” said Joe Simone, President of Simone Development Companies.
At the recent NYC Builds Bio+ conference, representatives from the real estate industry noted the lack of buildable land in Manhattan, the epicenter of New York City’s life sciences sector. Some institutions have already turned to suburban office parks to address their expansion needs.
The New York Blood Center has leased 187,181 square feet of space in the former Avon Global Data Center in Rye, N.Y. The institution plans to use the space for laboratories and offices, as well as blood storage. The property is next to the Metro-North Railroad station and within walking distance of Rye’s downtown area.
Simone Development Companies envisions a life sciences component to its Hutchinson Metro Center’s expansion in the Bronx. This 33-acre expansion to the existing 42-acre Hutchinson Metro Center campus will sit next to a future Metro-North train station providing easy access from the Hell Gate and New Haven train lines.
“Simone Development Companies will help meet the life science sector’s need for new, state-of-the-art space that will be easily accessible from Manhattan’s Penn Station,” 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.

BRONX, NY – November 7, 2022 –
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.
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.
Bronx, NY, October 26, 2022 –
Joseph Simone of Simone Development Companies said more outdated malls in U.S. suburbs will become targets of retail-to-medical conversion.
“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.”
Joseph Simone of Simone Development Companies says that the Centers for Medicare & Medicaid Services’ (CMS) focus on behavioral health will drive the design of new healthcare facilities.
Bronx, N.Y. (August 24, 2022)—Health networks’ expansion into new territories and underserved communities is driving retail-to-medical conversions, said Joseph Simone of Simone Development Companies.
Bronx, N.Y. (August 8, 2022)—The New York City region’s burgeoning technology and life sciences sectors are attracting increasing interest from venture capitalists who are leasing new office space to be closer to innovation hubs, says Joseph Simone of Simone Development Companies.
NEW ROCHELLE, NY – August 3, 2022 – 