Leases  ·  Office

Mercy College Reups on 125K-SF Campus in the Bronx

reprints


Mercy, mercy me … things [are] what they used to be.

Mercy College renewed its lease for 125,522 square feet in the Hutch Metro Center at 1200 Waters Place in the Bronx, where it has had its campus for two decades, Commercial Observer has learned.

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Landlord Simone Development Companies did not disclose the asking rent in the 433,286-square-foot office property or the length of Mercy College’s lease, saying only that it was a long-term deal.

“More than 20 years ago, Mercy College was instrumental in the development of 1200 Waters Place and the success of Simone Development’s Hutchinson Metro Center, transforming an underutilized, obsolete state hospital site that was closed off to the public into a vital part of the Northeast Bronx community,” Joe Simone, president of Simone Development, said in a statement.

James Macdonald of Simone Metro Properties represented the landlord in-house while William Cuddy and Greg Maurer-Hollaender of CBRE (CBRE) negotiated on behalf of Mercy College. CBRE declined to comment.

“The Mercy College Bronx Campus will continue to offer state-of-the-art facilities and academic programs that lead to in-demand jobs,” Mercy College President Tim Hall said in a statement. “It will also position Mercy to continue to evolve to meet the workforce and educational trends of the future and strengthen the college’s impact in the Bronx community.”

Aside from its Bronx location, Mercy College also has campuses in Manhattan and Dobbs Ferry, N.Y.

The Hutch Metro Center opened in 2003 and spans 42 acres. Mercy College signed as the second anchor tenant, and since then the development has grown to cover 1.4 million square feet of office, medical, retail, hospitality and education space.

Mark Hallum can be reached at mhallum@commercialobserver.com.