Simone Development Companies Signs Cap’t Loui Seafood Boil at Throggs Neck Shopping Center in the Bronx

BRONX, NY (March 2022) — Simone Development Companies has announced that Cap’t Loui Seafood Boil has signed a 2,123-square-foot, long-term lease at Throggs Neck Shopping Center in the Ferry Point section of The Bronx. This is the seafood restaurant’s fifth location in New York, which is expected to open to the public in Spring of 2022.

Karnit Mosberg of Royal Properties represented both the tenant and the owner in the deal.

“We are thrilled to welcome Cap’t Louis Seafood Boil to the highly successful Throggs Neck Shopping Center,” said Josh Gopan, Assistant Vice President of Leasing for Simone Development. “The shopping center has maintained its position as one of the most successful retail destinations in the Bronx due to its remarkable accessibility, plentiful parking, and diverse roster of tenants. Since its construction by Simone in 2010, the shopping center has created hundreds of new jobs and been responsible for boosting the area’s local economy. We are proud to see how Throggs Neck continues to be extremely attractive for retailers and shoppers alike.”

Cap’t Louis Seafood Boil joins an extensive and diverse roster of tenants including retailers Target, TJ Maxx, Petco, Party City, and Skechers as well as restaurants Charleys Philly Steaks, Starbucks, Applebee’s, Subway, Chipotle, Sarku Japan, among others. Throggs Neck Shopping Center is now 98% occupied, with just 6,404 square feet of 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.

2022-05-10T12:54:52-04:00March 22, 2022|

Simone Development Companies Sponsors Bronx Chamber of Commerce Women of Distinction Luncheon

BRONX, NY (March 2022) — Proximity to research hospitals and plug-and-play capabilities are among the top elements of a winning formula for developing life sciences real estate, said Joseph Simone, said Joseph Simone of Simone Development Companies.

The Bronx Chamber of Commerce Foundation hosted its annual Women of Distinction Luncheon on March 25 at the Villa Barone Manor in the Throggs Neck section of the Bronx. Chamber of Commerce Chairman Joseph Kelleher, president of Simone Metro Properties, (pictured R to L with scholarship winner Noemy Rodriguez, Allison Aguilar of Simone Development and Bronx Chamber Foundation Board Chair April Horton, Director, External Affairs & Government Affairs at Verizon), helped celebrate Women’s History Month and support the Chamber’s efforts to award scholarships young Bronx women who have demonstrated academic excellence.

This year’s luncheon honored Christine Croke, RN, patient care coordinator in the Medical Intensive Care Unit at the Montefiore Weiler Hospital/Einstein Campus for her extraordinary contributions to Bronx patients, families and colleagues during the peak of the pandemic.

This year’s scholarships were made possible through the generosity of sponsors Con Edison, Ponce Bank, Verizon, The Monroe Foundation, Simone Development, New York Botanical Garden, Orange Bank & Trust Co., KZA Realty, Sandra Erickson Real Estate, Woodlawn Cemetery & Conservancy, F&F Insurance and Metro Optics.

2022-05-10T13:02:16-04:00March 15, 2022|

Simone Development Identifies 5 Essential Ingredients for a Successful Life Sciences Project

BRONX, NY (March 2022) — Proximity to research hospitals and plug-and-play capabilities are among the top elements of a winning formula for developing life sciences real estate, said Joseph Simone, said Joseph Simone of Simone Development Companies.

“The life sciences sector has a specific set of criteria when considering real estate options,” said Joe Simone. “Life science CEOs aren’t just looking for oversize buildings that can accommodate labs; they need spaces where their employees believe that their personal values and needs are respected.”

Simone Development Companies identified five criteria that all real estate professionals should consider when contemplating a life sciences project:

  1. Plug-and-play: Buildings with research-ready centralized systems such as air handling, acid neutralization, and backup power provide turnkey expansion opportunities for future lab users.
  2. Proximity: Some of the nation’s most successful life science innovation corridors are emerging near research hospitals and universities. Life-sciences real estate that is walking or biking distance from such campuses will be favored by start-ups emerging from researchers’ discoveries.
  3. Amenities: Remote work and the Great Resignation have taught employers that fitness centers, roof terraces, employee lounges and fun meeting spaces foster positive work environments and collaboration for employees.
  4. Sustainability: Many emerging biosciences are writing sustainability and carbon neutrality into their mission statements. Real estate developers must deliver properties with energy recovery systems and other measures that mitigate laboratories’ large consumption of electricity and other resources.
  5. Transportation: The technology workforce of today and tomorrow is increasingly concerned about the environment and the impact of automobiles. Wet labs and research facilities built near train stations, bus lines and bicycle lanes will help tenants attract top talent that values a car-free existence.

“In 2021, New York City experienced a record year for laboratory leasing activity,” said Joanna Simone, Principal and President of Leasing and Property Management. “We analyzed the leasing data and concluded that most of the properties were in buildings that incorporated these five elements.”

2022-05-10T11:38:12-04:00March 8, 2022|

Simone Development: Exponential Growth In Life Sciences Lab Construction Requires Shovel-Ready Sites

BRONX, NY (March 2022) — A building boom for new life-sciences laboratories will benefit medical real estate developers that control shovel-ready properties, said Joseph Simone of Simone Development Companies.

According to recent figures from CBRE, a record 31 million square feet of life-science space was under development in the fourth quarter of 2021, both new construction and conversions. “Because of the costs associated with the essential lab infrastructure, real estate developers with vacant land near innovation corridors will benefit from cost savings and delivery-to-market advantages,” said Joe Simone.

Life sciences lab and innovation users typically require high-capacity power, high-velocity ducts, acid waste neutralization and tenant emergency power capacity—all costly retrofits for existing buildings.

In the first two months of 2022, CBRE reported that several life sciences mega-projects have been announced, including a 3 million square foot endeavor at the Philadelphia Navy Yard.

Joe Simone noted that over the past 25 years since the U.S. Navy closed Philadelphia’s Navy Yard, private investors have transformed a massive, outdated tract of land into a thriving community with more than 150 companies. “The key to this success was 1,200 acres of vacant or demolition-ready land near a major urban center,” said Joe Simone.

As with the ongoing Navy Yard transformation, Simone Development Companies successfully reinvented parts of the former Bronx Psychiatric Hospital into the Hutchinson Metro Center. Strategically located near the Albert Einstein College of Medicine and other life sciences hubs in Harlem and Long Island City, Simone Development Companies is proposing to build wet labs and for medical research on the southern portion of the property.

“The demand for new lab space shows no sign of receding,” said Patricia Simone, Principal and President of Simone Management Group. “Simone Development Companies is ready to build the facilities needed for the new generation of biotech start-ups.”

2022-05-10T11:33:18-04:00March 1, 2022|

Joseph Simone, President of Simone Development Says Attractive Place-Making is Essential to Life-Science Development

BRONX, NY (February 2022) — Simone Development Companies.Landscaping, urban design and public amenities are essential elements in successful life-sciences development, said Joseph Simone of Simone Development Companies.

“As we’ve seen at the emerging Manhattanville Factory District in West Harlem, the construction of a three-block pedestrian greenway along buildings containing wet labs and offices will enhance this innovation corridor, making it more attractive to tenants and their employees,” said Joseph Simone, president of Simone Development Companies.

West Harlem’s growth is fueled by Columbia University’s and the Manhattanville Factory District’s expansion into the formerly industrial neighborhood, transforming it into an educational and technological hub. The Manhattanville area lies north of 125th Street and east of Adam Clayton Powell Jr. Boulevard.

“Outdoor people habitats are important to technology and life-sciences companies because they employ knowledge workers who must be inspired to achieve breakthroughs,” said Joseph Simone. “These employees’ ah-ha moments can happen on a bike trail, in a flower garden or a beautifully designed public plaza.”

Published renderings for the Manhattanville Factory District greenway include trees, public seating and lawns that invite picnics or sunbathing. Simone Development Companies is pursuing a similar strategy at its Hutchinson Metro Center in the Bronx. The Hutchinson Metro Center’s proposed South Campus will include ball fields, lawns, seating areas and a greenway through the center of the development. The complex already has a health club, hotel and bicycle trails running along the Hutchinson River Parkway.

“Our proposed South Campus incorporates the latest thinking in public-space design,” said Joseph Simone. “We believe our landscaped and recreational areas will be must-have amenities for the medical technology and life-sciences firms that this complex will attract.”

2022-03-08T13:20:33-05:00February 15, 2022|

Joseph Simone of Simone Development Says Flexible and Adaptive Buildings are Key to Life Sciences Growth

BRONX, NY (February 2022) — Buildings with flexible and adaptive spaces are critical to attracting growing life-sciences businesses, said Joseph Simone of Simone Development Companies.

“Nationwide, we are seeing proposed construction that emphasizes flexible and adaptive spaces, regardless of whether the end uses are laboratories, classrooms or offices,” said Joseph Simone, president of Simone Development Companies. “Landlords seek buildings whose interiors can be quickly modified to meet new market realities, particularly in the burgeoning life sciences sector.”

Collaboration is prized in the life sciences and other burgeoning industries dependent on innovation, so new buildings are designed to enhance the creative collaboration that leads to new products and breakthroughs.

“The very competitive biomedical research environment demands shared facilities and diverse spaces in which employee teams of various sizes can do their work,” said Joseph Simone.

Simone Development Companies’ Hutchinson Metro Center in the Bronx is an example of contemporary trends in flexible and adaptive building. An ambulatory surgical center–the Bronx’s first bedless hospital–contains open floor plans that allow the hospital to quickly adapt to new health care priorities.

“We have proposed expanding our Hutchinson Metro Center campus to include wet laboratories for medical research. This new facility will include high ceilings and open floor plans that facilitate flexible and adaptive uses,” said Joseph Simone.

The proposed expansion of the Hutchinson Metro Center campus aligns with New York City’s biotech investment in the Morris Park innovation corridor. New York City’s financial commitment to growing the life sciences sector in all its boroughs includes a $13 million grant to Montefiore Medical Center and its medical school, the Albert Einstein College of Medicine to launch the Einstein-Montefiore Biotechnology Accelerated Research Center.

2022-03-08T13:20:47-05:00February 1, 2022|

Joseph Simone Says Bronx Has The Essential Qualities To Become A Hub For Life-Sciences

BRONX, NY (January 18, 2022) — The Bronx has the essential qualities to become a thriving life-sciences hub, according to Joe Simone, President of Simone Development Companies.

“The rise of innovation districts in major U.S. cities is driven by a set of traits that allow biotech firms to flourish. These traits include: physical compactness; transit accessibility; technical wiring; and mixed-use housing, office and retail,” said Joe Simone.

According to the Brookings Institution’s Metropolitan Policy Program, a growing number of life-sciences companies and start-ups are choosing to congregate in compact, amenity-rich locations in the cores of central cities.

“In New York City, we see the emergence of these innovation corridors in Long Island City and West Harlem, both neighborhoods that are close to mass transit, hospitals and higher education institutions that are graduating students with STEM degrees,” said Joseph Simone. “We are beginning to see the emergence of a similar innovation corridor in the Bronx’s Morris Park neighborhood, where New York City has invested $13 million with Montefiore Medical Center and its medical school, the Albert Einstein College of Medicine to launch the Einstein-Montefiore Biotechnology Accelerated Research Center.”

The Bronx’s Morris Park neighborhood is already undergoing the needed transformation that will foster an innovation corridor. New housing has been built near the College of Medicine and New York City’s 911 call center next to Simone’s Hutchinson Metro Center brought the necessary high-speed wiring.

Now, Simone Development Companies is in the process of expanding its Hutchinson Metro Center campus to include wet laboratories for medical research. This new life-science-focused expansion will sit next to a new Metro-North train station that will soon provide commuters direct access to Grand Central Terminal and New York City’s other innovation corridors.

“Morris Park will become the next bench-to-bedside innovation hub,” said Joseph Simone. “Life science companies will settle in this area because of affordable wet labs, a diversity of housing options, and critical transit to Wall Street and other finance centers.”

2022-03-08T13:21:12-05:00January 18, 2022|

Joseph Simone of Simone Development Sees Innovation Corridors Key to Life-Science Development

BRONX, NY (January 5, 2022) — Joe Simone, President of Simone Development Companies, predicts that innovation corridors with research hospitals, universities and affordable housing are key to growing vibrant life-sciences communities.

“Life-science companies have bucket lists when seeking new locations. Their site-selection criteria include proximity to hospitals and higher-education institutions that graduate young STEM talent,” said Joseph Simone. “Life-science companies also need communities that have affordable housing options for their workers and thriving cultural-retail scenes.”

One of New York City’s burgeoning life-sciences neighborhoods is in West Harlem, an area that includes Columbia University, City College of New York, New York Structural Biology Center, NewYork Presbyterian and Columbia University Medical Center. Additionally, West Harlem’s median residential rental prices are significantly lower than other neighborhoods in Manhattan, according to Zumper.com.

Other New York City neighborhoods also have growing innovation corridors. In the Bronx’s Morris Park area, Simone Development has proposed expanding its Hutchinson Metro Center campus to include wet laboratories for medical research. This new life-science-focused expansion will sit next to a new Metro-North train station that will soon provide commuters direct access to Grand Central Terminal and Manhattan’s innovation corridors. “Morris Park is poised to become a bench-to-bedside innovation hub that transforms medical research into medicines or therapies,” said Joe Simone.

New York City’s biotech investment in the Morris Park innovation corridor includes a $13 million grant to Montefiore Medical Center and its medical school, the Albert Einstein College of Medicine to launch the Einstein-Montefiore Biotechnology Accelerated Research Center.

“The center will create a bio-manufacturing facility focused on cell, gene, and antibody therapy production,” said Joe Simone. “Our Hutchinson Metro Center is a short walk from the Montefiore facilities and we expect the area’s affordable housing to facilitate arriving biotechnology companies’ ability to recruit talent.”

2022-03-08T13:21:17-05:00January 5, 2022|

Joe Simone, President of Simone Development, Sees Growing Demand for Construction of Life-Sciences Labs

BRONX, NY (December 2021) — Biotech companies’ appetite for research institutions’ groundbreaking discoveries is driving demand for new life-science facilities, said Joseph Simone of Simone Development Companies.

“New York City’s university research hospitals are gold mines of innovation and emerging technologies,” said Joe Simone. “These research institutions are transferring their technologies to biotech start-ups, which are spending billions of dollars to bring research-driven innovations to market. Therefore, the need for life-science web labs is exploding.”

The New York City Economic Development Corporation (NYCEDC) announced a plan in June to double a $500 million investment in life sciences to $1 billion as part of LifeSci NYC, a commitment to create jobs and establish New York City as the global leader in life sciences.

“In November New York City approved the New York Blood Center’s new tower, which includes 600,000 square feet of life sciences lab space that will be rented to research and biotech companies. This is just one of several examples of new life-sciences construction proposed throughout the New York metro area,” said Joe Simone.

New York City’s investments in biotech include a $13 million grant to Montefiore Medical Center and its medical school, the Albert Einstein College of Medicine to launch the Einstein-Montefiore Biotechnology Accelerated Research Center. The center will create a biomanufacturing facility focused on cell, gene, and antibody therapy production. The Bronx-based center will be open to early-stage and established companies.

Across the street from the proposed biotech facility, Simone Development Companies’ Hutchinson Metro Center includes an ambulatory surgical center for Montefiore. At the south end of the Hutchinson Metro Center, Joseph Simone has proposed building a life-sciences park that includes wet laboratories for medical research. “The life sciences are the Industrial Revolution of the 21st-century, and Simone Development Companies is ready to build the facilities needed for the new generation of biotech start-ups.”

2022-03-08T13:21:28-05:00December 21, 2021|
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