Simone Development Secures Full-Building Tenant in Metro NYC
ReadySpaces will fully occupy the recently upgraded asset.
The current owner renovated the asset in 2021. Image courtesy of Simona Development Cos.
Simone Development Cos. has secured a full-building lease with flexible warehouse storage provider ReadySpaces, in Mount Vernon, N.Y. The 110,300-square-foot industrial building will be the tenant’s second location in the state and the fifth one within the New York City-New Jersey region. The owner was self-represented in the negotiations.
Simone Development acquired the property in September 2021 from Montefiore Health System, according to CommercialEdge data. The same data provides shows that Webster Bank provided a $13.7 million loan.
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The four-story flex industrial asset is at 250 E. Sandford Blvd. and includes floorplates between 18,000 and 32,000 square feet, six loading doors, dock levelers and bumpers, a floor load capacity of 185 pounds per square foot and 145 vehicle parking spots.
Simone Development completed a renovation project for the 1970-built asset that included upgraded exteriors and windows, new elevator, a front-loading dock, complete paving and new lane markings. The improvement strategy was focused on the site’s topography, and now the industrial asset provides direct loading access on all its four floors.
The 2.6-acre property is close to interstates 95 and 87 and is located 14 miles from White Plains, N.Y., 19 miles from John F. Kennedy International Airport and within 21 miles of downtown Manhattan.
Nearby redevelopment & leasing activity
In July, Thor Equities received a $26.6 million loan for the renovation of an industrial asset nearby. Thorofare Capital provided the refinancing for 24 River Road, a 220,000-square-foot industrial asset in Bogota, N.J.
Around the same time, Hines selected NAI James E. Hanson as exclusive leasing agent for an industrial campus totaling 716,158-square-foot in Newark, N.J. Newark Distribution Center changed hands earlier this year in a $127 million deal.
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