Throggs Neck Shopping Center Fills Void in the Bronx

Simone Development has fast-tracked construction at its new Throggs Neck Shopping Center project, currently under development in the Ferry Point section of The Bronx. Anchored by a 165,000 square-foot Target department store – the retailer’s third Bronx outlet – the Throggs Neck Shopping Center is scheduled for completion in early 2014 and will offer more than 300,000 square feet of stores and restaurants on two levels, in addition to covered and uncovered parking for 900 cars.  Upon completion, the two-level center at 815 Hutchinson River Parkway, between Brush and Lafayette avenues, will be home to 30 national and local retailers.

Simone Development partnered with Target – which will own its 165,000-square-foot space as a condominium - to anchor the shopping complex when it opens in early 2014. The company is working with the Throggs Neck Merchant Association to provide a mix of national and local retailers to occupy the remaining space. TJ Maxx, which recently signed a 25-year lease for 50,000-square-feet of space, will serve as another anchor tenant.

Applebee’s, the world’s largest casual dining chain, with approximately 2,000 locations in 49 states, 16 countries, has secured a space for 8,500-square feet at the property. Simone Development continues to target other casual restaurants to join Applebee's. "We're trying to place the larger tenants first, and then we have a list of other restaurants that want to be there," says Joe Simone, president of Simone Development.

Throggs Neck Shopping Center will also be home to MetroOptics Eyewear's fourth Bronx location. The nearly 6,000-square-foot store joins existing locations in the borough at Westchester Square, Parkchester and Hunts Point.

“We are extremely happy to announce these new leases at Throggs Neck Shopping Center representing our continued commitment to providing an attractive mix of local and national retailers to best serve the surrounding neighborhoods,” said Joseph Simone, President of Simone Development.

Simone also says this couldn't be a better time to develop this type of center due to the area demographics and the lack of construction. The company is witnessing high demand from retailers that would like to open a location in the Bronx due to the high response from customers.

"What we have found is that the Bronx is an under-served market. If you deliver first-grade, Class A product, it is extremely well received," says Simone. "It's got a very large population that is underserviced in many areas — particularly retail."

The development is strategically located adjacent to major roadway access, including the Throgs Neck Bridge to Queens, and the Donald Trump golf course that is under development. While there is no doubt that, the area needs a retail development like Throggs Neck Shopping Center, there is controversy associated with the spelling of the project's name. The bridge is spelled one way, while the post office chose another. Simone says, "From what I understand, you can't go wrong either way."

Simone Development, headquartered in the Bronx, owns more and operates than 5 million square feet of property in the Bronx, Westchester County, Queens, Long Island and Connecticut. The company and manages more than 100 properties ranging from multi-building office parks to retail and industrial space.

The company’s largest and most successful development is the 42-acre Hutchinson Metro Center office complex located directly off the Hutchinson River Parkway in the Pelham Bay section of the Bronx. The first two phases of the complex (1200 Waters Place and 1250 Waters Place), which comprise nearly 750,000 square feet of Class A office and medical space, are fully leased. Two additional phases totaling 650,000 square feet (the 370,000-square-foot Metro Center Atrium and 280,000-square-foot Tower Two, adjacent to 1250 Waters Place), are currently under development.