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Hutchinson Metro Center more than 45% pre-leased.

One of today's great success stories in commercial real estate in New York City is taking place in the Bronx where, for the first time in more than a decade, a new Class A office building is under construction.

Amid towering cranes and heavy equipment, hundreds of construction workers scramble over the newly placed steel beams on the Hutchinson Metro Center, a new 460,000-SF office complex rising in the Pelham Bay section of the Bronx.

Remarkably, less than a year after the start of construction the Hutchinson Metro Center is more than 45% pre-leased with occupancy of its first tenant--Visiting Nurse Service of New York--slated for this summer.

Conveniently located off the Hutchinson River Parkway, the Hutchinson Metro Center is a multi-phased state-of-the-art Class A office complex with extensive parking in an 18.5-acre landscaped campus setting. The four-story office complex features unique floor plates that can accommodate requirements for both large and small space users. The site can accommodate possible future expansion for up to 1 million SF.

"We are very pleased at the tremendous response we've received to the Hutchinson Metro Center. Businesses are discovering that there are many benefits to relocating to the Hutchinson Metro Center including convenient access to major highways and public transportation, excellent amenities and a suburban campus setting," said Joseph Simone, president of Simone Development Companies, the developer of the Hutchinson Metro Center.

The Hutchinson Metro Center offers a wealth of superior tenant amenities including high-speed Internet and telecommunications systems, teleconferencing center, full service cafeteria and fitness center, attended gatehouse with 24/7 security, abundant parking, shuttle service to subway and train stations and convenience retail shops for tenants. Outside will be expansive multi-level courtyards landscaped with gardens and seating/dining areas.

"Business tenants are attracted to the Hutchinson Metro Center because of the distinctive features that are offered only at this property in the Bronx.

The building features large floor plates averaging 80,000 SF in a Class A building, which is not available anywhere else in the Bronx. In addition, the Hutchinson Metro Center offers abundant parking with a 3.3 ratio and all new mechanical systems and corporate headquarters style amenities," said Tara Stacom, executive vice president at Cushman & Wakefield, the global real estate services firm. Stacom, Shawna Menifee and Matthew O'Connor at Cushman & Wakefield, are the exclusive leasing agents for the Hutchinson Metro Center.

In addition to its outstanding tenant amenities, the Hutchinson Metro Center boasts an excellent location that is conveniently located to Manhattan, Queens, Westchester County and southern Connecticut.

The Hutchinson Metro Center is easily accessible to major highways including the Hutchinson River Parkway, I-95, Bronx River Parkway, New York State Thruway and the Cross Bronx Expressway. The Whitestone and Throgs Neck Bridges are only minutes away and so is LaGuardia Airport. Bus and subway service to New York City is located nearby. Future plans call for construction of a new on/off ramp from the Hutchinson Metro Center to the Hutchinson River Parkway.

The Hutchinson Metro Center is also located less than a mile from some of the region's top medical institutions including Albert Einstein College of Medicine, Montefiore Medical Center and Calvary Hospital. For future expansion, in addition to Class A office space, the site is ideal for lab research space for biotech companies.
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Title Annotation:commercial real estate market in New York City
Publication:Real Estate Weekly
Geographic Code:1USA
Date:Jun 25, 2003
Words:550
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