Simone Development Companies has announced that one of the largest warehouse distribution facilities in the Bronx with over 204,000 square feet of space is now being marketed for lease as warehouse, office and biotech space.
The complex, which is located at 1776 Eastchester Road in the Pelham Bay section of the Bronx, is currently occupied by Old London Foods, makers of Melba toast and other snack foods. Old London Foods is moving its bakery operations from the site at the end of 2010 at which time the space will be available for occupancy.
The two-story building, which is owned by Simone, features 204,015 square feet of warehouse and office space. The 10,000 square feet of existing office space in the building is expandable. The building has 121,961 square feet on the first floor and 82,054 square feet on the second floor. There is also a 15-bay trailer loading area on the site.
Situated on seven acres adjacent to the 42-acre Hutchinson Metro Center office complex, 1776 Eastchester Road offers easy access to major highways and is 20 minutes to Manhattan and 10 minutes to Southern Westchester. It is also less than a mile from four major medical institutions – Albert Einstein College of Medicine, Montefiore Medical Center, Jacobi Medical Center and Calvary Hospital.
“This property offers tremendous potential for a number of commercial uses. As a warehouse facility it is without equal in terms of location and ease of access. It is also an excellent location for offices given its proximity to the Hutchinson Metro Center,” said Joseph Simone, President of Simone Development Companies and developer of the Hutchinson Metro Center. “With four major hospitals less than a mile away and a growing base of medical practices at the Hutchinson Metro Center, this property is ideally situated for conversion to a biotech research center,” he added.
Mr. Simone noted that the Old London property is near the site of the 911 Call Center that New York City is constructing just north of the Hutchinson Metro Center property. He said construction of the 911 Call Center, which is scheduled to begin in March 2010, will result in major infrastructure improvements to the immediate area including a new public road that will offer MTA bus service. There will also be upgrades to electrical power transmission in the area. “The construction of the 911 Call Center will be a major boost for commercial properties in the immediate area including the Old London site,” Mr. Simone said.
Mr. Simone is no stranger to transforming commercial properties into successful developments in the Bronx. In 2001, Mr. Simone and his development team acquired the former Bronx Developmental Center just off the Hutchinson River Parkway and transformed it into one of the region’s most successful office projects – the Hutchinson Metro Center.
The Hutchinson Metro Center provides businesses, medical practices and government agencies with a unique combination of Class A space, world-class amenities and one of the most convenient locations in the region. The first phase of 460,000 square feet of space was completely leased in less than 18 months after completion. The second phase – the 280,000-square-foot Tower One – features nine stores of office space on four levels of covered parking. It is more than 40 percent leased with the majority of tenants being medical practices.
“We have enjoyed great success with the Hutchinson Metro Center and intend to build on that success with the Old London property. There are few commercial properties on market today that offer so many potential uses with such an excellent and accessible location,” said Mr. Simone.
For more information, call 718-518-8600 or visit the Affiliated Properties site here.