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.
Joseph Simone Says That Behavioral Health Will Drive Medical Real Estate Design
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.
“There is a growing understanding about the relationship between mental health and physical health, which is causing these two disciplines to converge at primary care facilities,” said Joe Simone, President of Simone Development Companies. “This growing combination of mental and physical practitioners in one location challenges healthcare real estate builders to create spaces that foster relaxation and psychological wellness for patients and healthcare workers.”
Earlier this year, CMS outlined its behavioral health strategy that included access to prevention and treatment services for substance abuse, mental health services, crisis intervention and pain care. The agency’s goal is to enable care that is well-coordinated and effectively integrated.
Healthcare real estate developers must now consider medical offices with deinstitutionalized environments that are homelike with access to daylight, the outdoors, and positive distractions.
Simone Development Companies’ development of medical offices at the Boyce Thompson Center in Yonkers, N.Y. anticipated this deinstitutionalization. Waiting rooms are relaxing spaces in a historic building adaptively reused for restaurants, retail and medical. The Boyce Thompson Center’s design allowed one tenant—WESTMED, a Summit Health Company—to offer behavioral health services.
“Behavioral health challenges medical builders to consider psychology and mental wellness in their projects,” said Joanna Simone, Principal and President of Leasing and Property Management Operations at Simone Development Companies. “The successful delivery of behavioral health services at our Boyce Thompson Center demonstrates that thoughtful and compassionate builders can create safe spaces that calm and reassure vulnerable patients.”
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.
Health network expansion driving retail-to-medical conversions
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.
“Across the nation, we’re seeing the conversion of empty or under-performing retail spaces into new urgent care, ambulatory centers and doctors’ offices as expanding health networks seek locations that are attractive to and convenient for consumers,” said Joe Simone, president of Simone Development Companies. “This adaptive reuse of outdated retail appeals to health networks because of the cost savings, plentiful parking and existing customer bases.”
Southwestern Connecticut is one region experiencing significant investment in healthcare real estate. Hartford Healthcare is expected to add about a dozen new medical facilities in Fairfield County as the network seeks communities that are underserved by its competitors. In 2020, Hartford Healthcare converted a former Sports Authority space into a medical center at the North Haven Pavilion in North Haven, Conn. Meanwhile, Hartford Healthcare’s rival—Yale New Haven Health System—has also converted retail into medical uses at the Meriden Mall in Meriden, Conn.
Simone Development Companies is a retail-to-medical conversion specialist. The company recently broke ground in Centereach, N.Y. on Catholic Health Ambulatory & Urgent Care, a new 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.
Catholic Health Ambulatory & Urgent Care at Centereach is the latest example of how Simone Healthcare Development, a leader in medical office and ambulatory care facility development, is revitalizing underutilized assets into modern healthcare centers. In Yonkers, N.Y., Simone transformed an abandoned historic building into the Boyce Thompson Center, an innovative 85,000-square-foot complex featuring medical offices and retail shops.
“While the online shopping revolution poses significant challenges for brick-and-mortar retail, we see enormous opportunities for healthcare providers that want to expand their regional footprints to reach new markets. We are prepared to partner with these networks to identify the best locations,” said Joanna Simone, principal and president of leasing and property management operations 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.
Joseph Simone Says New Report Confirms Growth in Urgent Care Through 2020s
Joseph Simone, President of Simone Development Companies, said that a new analysis of the urgent care sector predicting continued growth through 2029 will lead to more investments in real estate.
“According to Data Bridge Market Research, the urgent care market will experience a compound annual growth rate of 5.35% between 2022 and 2029, which translates to a continued push to redevelop outdated retail into urgent care, along with new construction,” said Joe Simone.
The research firm noted that the increasing incidence of sports-related injuries, reduced waiting times, and growing awareness about urgent-care centers are expected to expand the market.
Simone Healthcare Development, an affiliate of Simone Development Companies, is an active participant in the growth of the urgent care sector in the New York City metro area. The company recently broke ground on a redevelopment of a 63,000-square-foot retail store for the creation of the Catholic Health Ambulatory & Urgent Care facility in Centereach, New York.
The Catholic Health center is a new multi-specialty practice featuring primary care, women’s health, behavioral health, cardiology, neurosciences, orthopedics, and several other services. The site is located at 2112 Middle Country Road, and it is expected to open in the spring of 2023.
Simone Healthcare Development acquired part of the building from Ocean State Job Lot, the largest closeout retailer in the Northeast. The company recently vacated the building and is opening a new 36,000-square-foot store on the eastern portion of the 10.4-acre property.
“The rise of online shopping means that some retailers are downsizing their footprints. This restructuring opens opportunities for providers like Catholic Health to deliver their services in consumer-friendly shopping centers that are established destinations,” said Joanna Simone, Principal and President of Leasing and Property Management operations at Simone Development Companies.
Simone Development Companies is a fully integrated private real estate investment and development company that acquires and develops 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, 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 creatively oriented management team, long-term asset ownership and its pursuit of visionary development.
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.
Matthew Holst Joins Simone Development Companies as Chief Operating Officer
BRONX, NY (June 28, 2022) – Simone Development Companies has announced that Matthew Holst, AIA, LEED AP, a veteran real estate professional with more than two decades of experience holding senior management positions, has joined the company as Chief Operating Officer.
“We are extremely pleased to welcome Matt onto our team as he personifies our key values, brings technological innovation, an outstanding track record of success, environmental sustainability and operational excellence to assist Simone in achieving our future strategic growth objectives. Matt will work alongside our executive team and oversee all internal operations,” said Joseph Simone, President of Simone Development Companies.
“We have had a tremendous history of continued growth built on a relentless focus on being tenant centric. As we continue to strategically position ourselves for future growth, it is essential that we proactively build further operational capacity and scalability into key business processes,” he added.
Prior to joining Simone Development, Mr. Holst served as Managing Director of Architecture, Construction, Marketing and Design for Fisher Brothers’ 9 million-square-foot commercial real estate portfolio. At Fisher Brothers, Mr. Holst completed more than $200 million of capital improvement projects and interior tenant improvements on schedule and under budget through innovation of design, technology, operations, leasing, marketing and proficiency of job oversight.
In his long and distinguished real estate career, Mr. Holst has also served as Chief Real Estate Officer for Ease Hospitality and as Senior Vice President of Architecture, Construction and Leasing for SL Green Realty Corp., both in New York City.
A licensed architect, Mr. Holst is a member of numerous organizations including the National Council of Architectural Registration Boards, the American Institute of Architects, and the Real Estate Board of New York, where he served on REBNY’s Management Division Board of Directors.