{"id":1004685167,"date":"2023-10-10T05:18:49","date_gmt":"2023-10-10T13:18:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004685167"},"modified":"2023-10-10T05:25:34","modified_gmt":"2023-10-10T13:25:34","slug":"simone-development-buys-new-york-office-property","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/","title":{"rendered":"Simone Development Buys New York Office Property"},"content":{"rendered":"<div id=\"attachment_1004685171\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004685171\" data-attachment-id=\"1004685171\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/one-executive-boulevard\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg\" data-orig-size=\"892,670\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"One Executive Boulevard\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;One Executive Boulevard came online in 1982 and was renovated in 1995. Image courtesy of Simone Development Cos.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg?w=892\" class=\"wp-image-1004685171 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg?w=300\" alt=\"One Executive Boulevard came online in 1982 and was renovated in 1995. Image courtesy of Simone Development Cos.\" width=\"300\" height=\"225\" \/><\/a><p id=\"caption-attachment-1004685171\" class=\"wp-caption-text\">One Executive Boulevard came online in 1982 and was renovated in 1995. <em>Image courtesy of Simone Development Cos.<\/em><\/p><\/div>\n<p><strong>Simone Development Cos.<\/strong> has acquired One Executive Boulevard, a 133,768-square-foot office building in Yonkers, N.Y. An affiliate of <strong>Robert Martin Co.<\/strong> sold the Class B asset. The new owner plans to repurpose the property into a medical office building.<\/p>\n<p>The four-story building previously changed hands in 2019, when the current seller acquired a 56-building, 3.1 million-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/mack-cali-to-sell-suburban-office-flex-assets-for-488m\/\">office\/flex portfolio<\/a> from <strong>Mack-Cali Realty Corp.<\/strong> for $487.5 million. According to CommercialEdge data, the One Executive Boulevard became subject to a loan from <strong>Bank of America<\/strong> in 2022 and has a maturity date set for 2032.<\/p>\n<hr \/>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/why-mobs-offer-healthy-investor-appeal\/\">Why MOBs Offer Healthy Investor Appeal<\/a><\/p>\n<hr \/>\n<p>Sitting on 6.8 acres, the building originally came online in 1982 and was completely renovated in 1995. The property includes an on-site caf\u00e9 and features controlled access, two passenger elevators, as well as 280 car spots at a parking ratio of 2.5 spaces per 1,000 square feet.<\/p>\n<p>The new owner has begun interior and exterior renovations of the building. The tenant roster includes LifeStance Health, OneMain Financial, AVR Realty Co. and Yonkers Teachers Federal Credit Union, among others.<\/p>\n<p>One Executive Boulevard is near Interstate 87 and 23 miles from New York City. The property is an addition to the North Yonkers Medical Mile, which also includes Simone\u2019s Boyce Thompson Center, an 85,000-square-foot mixed-use facility that features physicians\u2019 offices, as well as 1034 N. Broadway, a 25,000-square-foot multi-tenant medical building. Other medical providers in the surrounding area include St. John\u2019s Family Medical Practice, Elizabeth Seton Children\u2019s Center and Northway Medical Center.<\/p>\n<h2>Simone Development&#8217;s recent business ventures<\/h2>\n<p>Simone Development Cos. has been growing its health-care portfolio for more than 25 years, which includes properties that provide urgent care, ambulatory surgery, radiology, dialysis and cancer treatment, among others.<\/p>\n<p>With a footprint of more than 7 million square feet, the company also specializes in the acquisition and development of other asset classes, such as office, industrial and retail. Recently, Simone secured a <a href=\"https:\/\/www.commercialsearch.com\/news\/simone-development-secures-full-building-tenant-in-metro-nyc\/\">full-building lease<\/a> with warehouse storage provider ReadySpaces. The 110,300-square-foot building is in Mount Vernon, N.Y. The company also picked up a vacant property in New York City\u2019s Bronx borough, which will be converted into an <a href=\"https:\/\/www.commercialsearch.com\/news\/simone-development-to-reposition-former-nyc-supermarket\/\">industrial facility<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company is redeveloping the space into a medical office building.<\/p>\n","protected":false},"author":2829,"featured_media":1004685171,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21783,21754,1600,21742,10],"tags":[33250,34413],"class_list":["post-1004685167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-investment","category-medical-office","category-new-york","category-latest","category-northeast","tag-bank-of-america","tag-simone-development-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Simone Development Buys New York Office Property - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Simone Development Cos. acquired a 133,768-square-foot office building in Yonkers, N.Y., and will convert it to a medical office property.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Simone Development Buys New York Office Property\" \/>\n<meta property=\"og:description\" content=\"Simone Development Cos. acquired a 133,768-square-foot office building in Yonkers, N.Y., and will convert it to a medical office property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-10T13:18:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-10T13:25:34+00:00\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/\",\"name\":\"Simone Development Buys New York Office Property - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg\",\"datePublished\":\"2023-10-10T13:18:49+00:00\",\"dateModified\":\"2023-10-10T13:25:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Simone Development Cos. acquired a 133,768-square-foot office building in Yonkers, N.Y., and will convert it to a medical office property.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg\",\"width\":892,\"height\":670,\"caption\":\"One Executive Boulevard came online in 1982 and was renovated in 1995. Image courtesy of Simone Development Cos.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Simone Development Buys New York Office Property\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\",\"name\":\"Madalina Pojoga\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72\",\"caption\":\"Madalina Pojoga\"},\"description\":\"Madalina Pojoga is an associate editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2022. Madalina is covering the self storage sector on MHN and industrial and medical office building assets for CPE. She has an academic background in film studies and performative arts.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/madalina-pojoga\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Simone Development Buys New York Office Property - Commercial Property Executive","description":"Simone Development Cos. acquired a 133,768-square-foot office building in Yonkers, N.Y., and will convert it to a medical office property.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/","og_locale":"en_US","og_type":"article","og_title":"Simone Development Buys New York Office Property","og_description":"Simone Development Cos. acquired a 133,768-square-foot office building in Yonkers, N.Y., and will convert it to a medical office property.","og_url":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-10-10T13:18:49+00:00","article_modified_time":"2023-10-10T13:25:34+00:00","author":"Madalina Pojoga","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/","url":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/","name":"Simone Development Buys New York Office Property - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg","datePublished":"2023-10-10T13:18:49+00:00","dateModified":"2023-10-10T13:25:34+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a"},"description":"Simone Development Cos. acquired a 133,768-square-foot office building in Yonkers, N.Y., and will convert it to a medical office property.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg","width":892,"height":670,"caption":"One Executive Boulevard came online in 1982 and was renovated in 1995. Image courtesy of Simone Development Cos."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/simone-development-buys-new-york-office-property\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Simone Development Buys New York Office Property"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a","name":"Madalina Pojoga","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72","caption":"Madalina Pojoga"},"description":"Madalina Pojoga is an associate editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2022. Madalina is covering the self storage sector on MHN and industrial and medical office building assets for CPE. She has an academic background in film studies and performative arts.","url":"https:\/\/www.commercialsearch.com\/news\/author\/madalina-pojoga\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/One-Executive-Boulevard-e1696851049192.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004685167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2829"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004685167"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004685167\/revisions"}],"predecessor-version":[{"id":1004685467,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004685167\/revisions\/1004685467"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004685171"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004685167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004685167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004685167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}