From Supermarket Site to Logistics Center in NYC

1720 Eastchester Road in the Morris Park section of the Bronx. Image courtesy of Simone Development Cos.

Simone Development Cos. has acquired a vacant property in New York City’s Bronx borough, with plans to convert the asset into much-needed industrial space. The company acquired 1720 Eastchester Road from Madison International Realty for an undisclosed price.

The seller was represented by Cushman & Wakefield’s Jonathan Squires and Josh King, while Simone Development Cos. was represented in-house by Megan Guy, Brian Reardon, Josh Gopan, Dina Gupta and Sean Heneghan.

The new ownership has plans to convert the former retail site into a 186,298-square-foot logistics center for warehouse and distribution users. The property at 1720 Eastchester Road was previously a 63,000-square-foot Stop & Shop supermarket, liquor store and Subway restaurant. According to Simone Development Cos., the Stop & Shop building has been vacant since July 2023.

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The company has plans to start the repositioning process immediately, which is expected to take six months. Simone Development Cos. tapped Cushman & Wakefield to secure potential tenants for the redeveloped property. When completed, the logistics center will have outdoor parking, 18-foot clear ceiling heights, multiple loading docks and drive-in doors. Located at the corner of Eastchester Road and Waters Place, 1720 Eastchester Road is adjacent to Simone Development Cos.’ existing 1.4 million-square-foot Hutchinson Metro Center campus and has convenient access to the Bronx’s multiple highways and nearby airports.

Reardon, vice president of development for Simone Development Cos., said in prepared remarks that the East Bronx needs modern last-mile warehouse distribution centers like 1720 Eastchester to serve the nearby communities.

Securing tenants across the Greater New York portfolio

Once completed, 1720 Eastchester Road will add to Simone Development Cos.’ growing industrial portfolio in the Bronx. The company has several industrial, retail, office and medical office assets in the borough. Simone Development Cos.’ overall portfolio includes acquisitions and developments of health-care, mixed-use, office, industrial, retail and residential properties across New York, New Jersey and Connecticut. These assets total more than 7 million square feet across at least 100 properties in the Greater New York metro.

Earlier this month, Simone Development Cos. landed a full-building tenant for its 110,300-square-foot industrial building in Mount Vernon, N.Y. A month prior, Chipotle Mexican Grill signed a long-term lease to take up nearly 3,000 square feet at the company’s Metro Center Atrium within the Hutchinson Metro Center complex in the Bronx.