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.
Joseph Simone says research commercialization will drive new expansion of life sciences real estate
Bronx, NY (December 12, 2022)—The commercialization of cutting-edge medical research will drive a new wave of life-sciences real estate expansion near hospitals, said Joseph Simone of Simone Development Companies.
“Research hospitals like the Albert Einstein College of Medicine in the Bronx are pioneering new therapies for cancer, HIV, and brain injuries. Gene-editing tools will soon allow oncologists to create customized therapies for patients in laboratories that will require new floorspace near hospitals,” said Joseph Simone, president of Simone Development Companies.
Research hospitals often commercialize their discoveries by hosting bio-technology incubators on their campuses. Albert Einstein College of Medicine, which sits across the street from Simone Development Companies’ Hutchinson Metro Center, offers lab space for early-stage life science startups.
Successful startups developing promising medical technologies eventually need expanded lab space that forces them out of incubators to off-site “graduation spaces.” The best graduation spaces offer easy access to the research institutions where scientists are based.
Simone Development Companies envisions a life sciences component to its expansion of the Hutchinson Metro Center campus to accommodate growth at research centers in New York City. The 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.
New York City officials have aggressive plans to transform the region into a global leader in life sciences. The New York City Economic Development Corporation anticipates bringing 10 million square feet of wet lab space online over the next 10 to 15 years.
“The expansion of the Hutchinson Metro Center with a life sciences component will help economic development planners in New York City achieve their vision for a regional network of research institutions and life science campuses linked by rail,” said Danielle Contillo, 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.
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.
Burke Rehabilitation Opens New Outpatient Facility at Simone Development’s Hutchinson Metro Center in the Bronx
Expands Therapies to Enhance Treatment of Patients in the Community
Bronx, NY, October 26, 2022 – Burke Rehabilitation announced the expansion of its therapy services with the opening of a new site at 1250 Waters Place at Simone Development Companies’ Hutchinson Metro Center in the Bronx. Burke held a ribbon cutting ceremony on October 18 to mark the relocation and expansion of services previously provided at 2826 Westchester Avenue, another Simone Development property, where Burke had been a tenant since 2007.
Attending the ribbon cutting were Dr. Philip Ozuah, Montefiore President and CEO, and elected officials representing the Bronx, including NYS Assembly member Michael Benedetto and NYC Council member Marjorie Velazquez. Scott Edelman, Burke’s Interim Executive Director, and Dr. Mooyeon Oh-Park, SVP and Chief Medical Officer of Burke, were joined by Montefiore physicians, Burke leadership, and therapists to celebrate the opening.
The new facility more than doubles the size of Burke’s former location and provides over 5,000 square feet of brightly lit and open space, outfitted with the latest technologies. Ample patient parking is available. The facility offers five private treatment rooms, including a designated occupational therapy area. In addition to physical and occupational therapy, the site provides speech and swallowing therapy. The new long-term lease brings Burke Rehabilitation to more than 13,000 square feet on the 6th and 10th floors of the Hutchinson Metro Center’s Tower 1.
“The new therapy space at Hutch Metro will allow us to continue to provide excellent multidisciplinary rehabilitative care in a more spacious and comfortable environment,” said Site Supervisor Jonathan Mroz. “We have added several new pieces of equipment which will be utilized in providing rehabilitation for our growing number of neurologically involved patients. This new location will allow Burke to better serve the rehabilitative needs of the Bronx community by providing access to the same exceptional level of care available at our flagship outpatient location in White Plains.”
Some additional features include:
- Two oversized hi-low treatment tables
- Body weight support track system to be used for ambulation, balance, and transfer activities
- Two sets of high-low parallel bars for balance and gait training activities
- BITS balance system
- RT Xcite – a device that utilizes mild electrical stimulation to engage atrophied muscles
“We are thankful to Burke Rehabilitation for their continued trust in the relationship with Simone Development at the Hutchinson Metro Center and beyond,” said Joseph Simone, president of Simone Development Companies. “The property’s convenient location and Class A amenities make the campus a highly sought-after destination for some of the region’s leading medical, office, educational and retail tenants.”
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 Burke Rehabilitation, 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.
Burke Rehabilitation is a not-for-profit healthcare organization devoted solely to acute physical rehabilitation. Its main campus is located in White Plains, NY. Founded in 1915 through an endowment from philanthropist John Masterson Burke, it has been a member of the Montefiore Health System since 2016. Burke operates the only hospital in Westchester County dedicated solely to adult and adolescent rehabilitation medicine. Burke also offers therapeutic care in locations throughout Westchester County, the Hudson Valley, and the Bronx for those who have experienced injuries, surgery, or chronic conditions, from the simple to the very complex. For additional information, visit www.burke.org or to schedule an appointment at Burke Hutch Metro 6, call (718) 515-2400.
Joe Simone Views Outdated Malls In Aging Communities As Targets For Retail-To-Medical Conversions
Joseph Simone of Simone Development Companies said more outdated malls in U.S. suburbs will become targets of retail-to-medical conversion.
“As the suburbs mature, the proportion of senior citizens—the biggest medical services consumers—increases, so healthcare providers are scrambling to identify high-traffic locations with ample parking. In many cases, the ideal locations are shopping centers with low occupancy,” said Joseph Simone, President of Simone Development Companies.
Fortune magazine recently noted that 32 enclosed malls nationwide house healthcare services as part of their footprint. Nearly a third of the malls’ medical transformations have been announced since the start of the Covid-19 pandemic, the magazine noted.
Converting foundering shopping centers into medical destinations makes sense for many suburbs built in the 1970s where young families with children no longer predominate. Centereach, N.Y. is one community that saw its population explode in the 1970s.
Changing demographics in Centereach led Simone Development Companies to consider new uses for its retail building. After a market analysis, Simone Development Companies—a retail-to-medical conversion specialist—recently broke ground on Catholic Health Ambulatory & Urgent Care. The new complex will house a 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 former Ocean State Job Lot 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.
“Throughout the New York metropolitan area, we are seeing health networks announce new conversions of former retail buildings. We will work closely with some of these expanding networks to identify the best locations and secure smooth conversions,” said Joanna Simone, Principal and President of Leasing and Property Management Operations at Simone Development Companies.