Montefiore Expands at Hutchinson Metro Center in the Bronx
Montefiore Health System is growing in the Bronx.
The hospital system inked a long-term deal for 90,000 square feet at Tower One of Hutchinson Metro Center, located at 1250 Waters Place, and 6,500 square feet at the nearby Metro Center Atrium, according to a release from landlord Simone Development Companies. The expansion lease will allow Montefiore to expand the footprint of various clinical departments, including women’s health, breast oncology, urology, and orthopedics. Simone is also revamping the building with a new entrance and new elevators.
With the expansion, Montefiore now occupies 435,000 square feet at the 1.4-million-square-foot Hutchinson Metro Center complex in Pelham Bay. Tower One spans 280,000 square feet and includes dozens of medical tenants, including Montefiore Medical Center’s orthopedic specialties department, the New Jewish Home, ENT & Allergy Associates and Pelham Gardens Oral Surgery.
James McDonald represented Simone in-house in the transaction, which didn’t involve any brokers on the tenant side. The terms of the deal weren’t disclosed, but asking rents elsewhere in Tower One range from $35 to $45 a square foot.
“Simone…and Montefiore have enjoyed a long partnership aimed at meeting the growing needs of one of New York’s leading health care providers and their patients. We are thrilled to be able to accommodate Montefiore’s latest expansion at Hutchinson Metro Center,” said MacDonald, Simone’s vice president of leasing.
The Real Deal was the first to write about the lease.