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BRONX MOB SIGNS BIG DEAL

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BRONX MOB SIGNS BIG DEAL
Montefiore Medical Center has leased the 280k SF ambulatory care center that Simone Development started building at its Hutchison Metro Center in the Bronx six months ago. The companies have a 20-year history and just now signed the paperwork, though Simone began building on a handshake with Montefiore.
Montefiore Ambulatory Care Center, Hutchison Metro Center, Bronx
Simone Development prez Joe Simone told us yesterday that the 11-story building will include a 35k SF surgical center, and Montefiore will populate the rest of the building with other "-ologies" once it delivers in Q3 '14. (Might we finally get to put our degree in cryptozoology, the study of mythical animals, to work?) The lease is for 16 years with renewal and purchase options. Next door is Montefiore's Center for Orthopaedic Specialties. The 42-acre Hutchison Metro Center has a Residence Inn, LA Fitness, and restaurants in the works, leaving just 200k or 300k SF of the 2M SF capacity still up in the air.