285,000-Square-Foot Retail Center is 75% Committed to Local and National Retailers, Including Target, TJ Maxx, Applebee's, Metro Optics
NEW YORK, Dec. 5, 2012 /PRNewswire/ — Simone Development Companies today announced that Petco and Famous Footwear have leased space at the new Throggs Neck Shopping Center project currently under construction in the Ferry Point section of The Bronx. Petco agreed to lease 10,000 square feet, and Famous Footwear signed on for 5,500 square feet. Only 70,000 square feet of space remain available. Throggs Neck Shopping Center is being developed by Simone Development, in conjunction with Aaron Malinsky and Paul Slayton.
"The leasing velocity we're seeing at Throggs Neck Shopping Center demonstrates the robust demand for quality retail space in the Bronx," said Joseph Simone, President of Simone Development. "National tenants, as well as the best local retailers, have been eager to open their doors here, and we're rapidly filling the remaining space."
Anchored by a 165,000+ square-foot Target department store – the retailer's third Bronx outlet – the Throggs Neck Shopping Center is scheduled for completion in early 2014 and will consist of over 285,000 square feet of stores and restaurants on two levels. The shopping center will also include both covered and uncovered parking for 900 cars.
In addition to the Petco and Famous Footwear leases announced today, several other major tenants joined the roster within the last month. TJ Maxx, offering discounted designer and brand name fashion for women, men, teens, kids and babies, has signed a lease for 28,417 square feet and will serve as a junior anchor for the new development. Applebee's, the world's largest casual dining chain, with approximately 2,000 locations in 49 states and 16 countries, has signed a 6,640 square foot lease at the Throggs Neck Shopping Center. MetroOptics Eyewear, a leading eye care services provider in the New York area, will open their fourth Bronx location with a 4,131 square-foot store at Throggs Neck Shopping Center, adding to their existing locations at Westchester Square, Parkchester and Hunts Point in the borough.
Miles Mahony of Ripco Real Estate represented Simone Development and its partners as exclusive leasing agent in these lease transactions. Approximately 70,000 square feet of additional retail and restaurant space is currently available at the Throggs Neck Shopping Center in various configurations. Upon completion, the developers envision up to 30 local and national retailers joining the anchor and junior anchor tenants at the center.
Simone Development Companies is a full-service real estate investment company specializing in the acquisition and development of office, retail, industrial and residential properties in the New York tri-state area. Headquartered in the Bronx, the privately held company owns and manages more than 5 million square feet of property in the Bronx, Westchester County, Queens, Long Island and Connecticut. The company's portfolio includes more than 100 properties and ranges from multi-building office parks to retail and industrial space.
The company's largest and most successful development is the 42-acre Hutchinson Metro Center office complex located directly off the Hutchinson River Parkway in the Pelham Bay section of the Bronx. The first two phases of the complex (1200 Waters Place and 1250 Waters Place), which comprise nearly 750,000 square feet of Class A office and medical space, are fully leased. Two additional phases totaling 650,000 square feet (the 370,000-square-foot Metro Center Atrium and 280,000-square-foot Tower Two, adjacent to 1250 Waters Place), are currently under development.
About Aaron Malinsky
Aaron Malinsky is a principal in a real estate development company specializing in the acquisition and development of retail and complex mixed-use projects in Metropolitan New York and New Jersey.
About Paul R. Slayton
Paul R. Slayton has been an active real estate developer for over 40 years.