Simone buys One Executive Blvd. from Robert Martin affiliate

Simone Development Companies has acquired the Yonkers office building One Executive Boulevard from an affiliate of Robert Martin Company. The closing took place Oct. 2. The price was not immediately disclosed.

Simone plans to repurpose the office building as a medical office center, complementing existing medical uses in the area. The four-story One Executive Boulevard contains 133,768-square-feet and is located within 1/4 mile of 879,426 square feet of existing medical office space.

One Executive Boulevard is located on 6.7 acres at the intersection of Executive Boulevard and North Broadway. It’s in close proximity to Simone’s Boyce Thompson Center, which is an 85,000-square-foot mixed-use center with physician’s offices of St. John’s Riverside Hospital, Westmed/Summit Health, ENT & Allergy Associates, Columbia Doctors and other medical practices along with retail shops and restaurants.

One Executive Boulevard also is close to Simone Development’s 1034 North Broadway, a 25,000-square-foot multi-tenant medical building that includes Northwell Health as well as Trust Specialty Pharmacy.

“Our acquisition of this important property located in the heart of what we see as the North Yonkers Medical Mile fits perfectly with our vision for this vibrant and growing health care community,” Joe Simone, president of Simone Development Companies said. “Moving forward, we foresee continued strength in the health care sector here with its easy access to Southern and Central Westchester, Riverdale and the North Bronx.”

Robert Martin Company’s CEO Tim Jones said, “This sale reflects Westchester’s evolving commercial real estate market. We are excited to see Simone Development expand its footprint in the local health care marketplace.”

Yonkers Mayor Mike Spano welcomed Simone’s plan to bring more medical office space to the city, saying it will bring “more jobs and momentum to the city.”