New York City’s quest for more life science labs will spur biotech building, says developer Joe Simone

Joe Simone Bronx, N.Y. (February 16, 2023)—New York City’s aggressive push to build 10 million square feet of new life sciences laboratories will create new development opportunities, said Joseph Simone of Simone Development Companies.

“New York City announced in January that it will invest $20 million for the creation of a biotech hub at the Brooklyn Navy Yard, which is the latest in a series of investments throughout the outer boroughs that will bring development and new jobs to neighborhoods primed for revitalization,” said Joe Simone, president of Simone Development Companies.

New York City’s investment at the Brooklyn Navy Yard and other locations outside of Manhattan reflects a shift to neighborhood-based economic development. In the Bronx neighborhood of Morris Park, New York City has deployed this strategy by investing in an innovation lab for early-stage life science startups at the Albert Einstein College of Medicine, which sits across the street from Simone Development Companies’ Hutchinson Metro Center.

“We want it in Morris Park, where there is a new rezoning around…Jacobi (Medical Center) and Albert Einstein and a real opportunity to create good-paying jobs closer to where people live,” said Andrew Kimball, president and CEO of the New York City Economic Development Corporation, in a recent appearance on Spectrum News NY1’s “Inside City Hall” program.

The rezoning of parts of Morris Park near a future Metro-North train station allows for greater housing density, laboratories and other land uses that promote the growth of biotech hubs.

Simone Development Companies envisions life sciences and residential components to its Hutchinson Metro Center. A 33-acre expansion to the existing 42-acre Hutchinson Metro Center campus will sit next to the future Metro-North train station, providing easy access to Manhattan and other life science hubs.

“New York City has invested in life sciences for about 25 years, allowing the region to compete with Boston and the San Francisco Bay Area in terms of creating new jobs and attracting companies. Simone Development Companies wants to help New York City officials achieve their transformational goals for the Morris Park neighborhood of the Bronx,” said Danielle Contillo, a principal at 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 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.

2023-02-16T11:52:42-05:00February 16, 2023|
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Joseph Simone Calls New York’s Workforce Development Essential for Life Sciences Real Estate Growth

New York’s planned investments in life science workforce training centers will help stimulate real estate development, said Joseph Simone of Simone Development Companies.

“New York is successfully attracting life science startups. The challenge now is to build talent pipelines to train the necessary workforce that will enable the state to achieve its employment goals,” said Joe Simone, President of Simone Development Companies. “State investments in the New York City regional workforce development plan ensure that growing life science companies seeking real estate in the tri-state area will find the right workers to fill new laboratories and facilities.”

The Long Island Investment Fund recently announced its intention to fund a life science workforce development training center. One of the fund’s goals is to supercharge the life sciences ecosystem in the region by developing workers with in-demand skills.

LifeSci NYC has a similar role in the five boroughs, and one target area is in the Bronx at the Montefiore-Einstein Accelerated Biotechnology Research Center (EMBARC), located across the street from Simone Development Companies’ Hutchinson Metro Center. EMBARC is a biomanufacturing operation focused on cell, gene, and antibody production. LifeSci NYC will invest $20 million to build a diverse pipeline of life sciences talent.

Simone Development Companies has anticipated growth in Morris Park’s biotech talent pool by planning for a live-work-play environment at the Hutchinson Metro Center, a mixed-use medical-office complex where future construction may include life science labs, housing, and destination retail catering to the employees of companies that grow out of EMBARC. This emerging innovation hub will be connected to New York City’s life sciences network by Metro-North’s future Morris Park train station, which will provide quick access to Penn Station in Manhattan.

“Since 2018, biotech research and development companies have increased employment by more than 8,000 people in the New York City metro area, an almost 20 percent increase. “Industry leaders say this growth will continue, and our Hutchinson Metro Center is well positioned to meet the increased demand for real estate that can accommodate life science facilities and workers,” said Megan Guy, Simone Development Companies’ Senior Vice President of Development.

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.

2023-02-02T09:34:36-05:00February 2, 2023|
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Construction and Leasing Executives Join Simone Development Compaines

BRONX, NY (January 9, 2023) – Simone Development Companies has appointed two real estate industry veterans to senior positions in its construction and leasing departments.

Roger Merriman is Simone Development’s new Senior Vice President of Construction and Jeremy Schwartz is Director of Leasing. These executives possess years of experience in the real estate industry and have worked with leading real estate companies in the tristate area.

“Roger and Jeremy bring impressive backgrounds and skills to the Simone team in the realms of construction management, leasing, property marketing, underwriting and property portfolio management,” said Joseph Simone, President of Simone Development Companies. “Both of these individuals will help us strategically position ourselves for future growth as we build our operational capacity and scalability.”

Prior to joining Simone Development, Merriman served as Vice President of Construction at SL Green Realty Corp., where he managed a team of professionals, consultants, and contractors on construction projects for the largest commercial real estate portfolio in New York City.

Schwartz formerly worked as Assistant Vice President of Leasing at Urstadt Biddle Properties, where he successfully transacted on more than 300,000 square feet of space. He also managed the leasing and marketing of over 1,500,000 square feet of grocery-anchored shopping centers and office buildings throughout the tristate area.

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 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.

2023-01-09T09:45:16-05:00January 9, 2023|
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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.

2022-11-04T14:30:58-04:00November 7, 2022|
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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.

2022-09-21T09:15:15-04:00September 21, 2022|
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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.

2022-06-28T11:28:15-04:00June 28, 2022|
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Joseph Simone of Simone Development Says New AI Lab Underscores New York City’s Attractiveness

BRONX, NY (May 2022) — Joseph Simone of Simone Development Companies says Absci’s recent announcement that it will open an artificial-intelligence research lab in New York City is another sign that start-ups want to be close to young talent conducting noteworthy research.

“Institutions like Columbia University have graduate and doctoral students conducting cutting-edge research in artificial intelligence, life sciences and oncology, so companies like Absci need to be where the talent lives,” said Joseph Simone, president of Simone Development Companies.

The Vancouver, Washington-based Absci recently announced that it will open its research lab at the Carnegie Hall Tower in Manhattan. The location puts Absci’s lab a short subway ride from Columbia University, Google, and the Samsung AI Center.

“Growing companies want to be where the talent lives and studies. The need for proximity to talent is one reason why Simone Development Companies is enthusiastic about our Hutchinson Metro Center, which is a short walk from a major medical research center—the Einstein College of Medicine,” said Patricia Simone, Principal and President of Simone Management Group.

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.

The research excellence and entrepreneurial vision of faculty at the Einstein College of Medicine contributed to the recent announcement that the faculty will receive two 2022 XSeed Awards to advance promising basic science findings that have start-up potential. As the Einstein faculty’s research progresses, they will build relationships with investment groups and licensing partners to further develop their discoveries.

“The Hutchinson Metro Center is ready to provide space to any of the start-ups launched by the new research coming out of the Einstein College of Medicine,” said Mrs. Simone.

2022-05-23T12:19:37-04:00May 11, 2022|
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