Simone Development Cos. Inks Lease in White Plains
The landlord purchased the office and R&D building in 2020.
Simone Development Cos. has signed a 16,750-square-foot office lease at its 129,168-square-foot office and R&D building in Thornwood, N.Y., within the White Plains market. CBRE negotiated on behalf of the tenant, Healy Electric Contracting. The landlord was represented by New York Commercial Realty Group.
Simone Development Cos. is the owner of the property since 2020, when it purchased it from seller ZEISS for $3.7 million, according to CommercialEdge. The same source shows that in 2022 Manufacturers and Traders Trust Co. provided a $12.5 million loan for the property.
The two-story buildings is at 1 Zeiss Drive and features six loading docks, ceiling heights between 14 and 18 feet, three drive-in doors, direct loading from two overhead doors located on the second floor and 190 vehicle parking spots.
The property includes nearly 55,000 square feet of warehouse space, while the office space is at the property’s second floor. Additional features include an atrium lobby, cafeteria, conference rooms and reinforced floor loads. Other tenants at the office building include Home Depot, DiBari Engineering and Piedmont Plastics.
The 12-acre office and R&D asset is close to multiple bus stations and is 3 miles from Pleasantville, N.Y., 7 miles from White Plains, N.Y., 9 miles from Westchester County Airport, 18 miles from Yonkers, N.Y. and within 27 miles of Upper Manhattan. New York Commercial Realty Group’s team that assisted the tenant was formed of Partners Michael Rao and Frank Rao, while CBRE’s Executive Vice President William Cuddy represented the tenant.
Recent news from Simone Development
The landlord’s portfolio comprises more than 7 million square feet, with properties of multiple uses, such as office, industrial, retail and residential. In late 2023, Simone Development Cos. purchased a 133,768-square-foot office asset nearby. The company picked up One Executive Boulevard in Yonkers, N.Y., from an affiliate of Robert Martin Co. Simona Development began interior and exterior renovations at the four-story building, with plans to repurpose it into a medical office property.
During the same period, the company also secured a full-building lease with ReadySpaces, flexible warehouse storage provider. The property is a 110,300-square-foot industrial property in Mount Vernon, N.Y., that is serving as ReadySpaces’ second location in the state.
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