Adams Clinic came to a conclusion regarding its new research location in New York City.
The research facility signed a lease for 7,236 square meters on the third floor of the Simone Development Company‘ 1200 water space in the Bronx for his new Davis Clinic location, says Simone. The space will be part of the sprawling 42-hectare, 1.4 million square meter Hutchinson Metro Center Campus.
Simone did not want to provide any information about the duration of the rental agreement and simply said that it was a “long-term” contract and that the requested rent was due. A report by Cushman & Wakefield found that suburban industrial rents averaged $28.21 per square foot in the second quarter of 2024.
“Adams Clinical’s new location in Davis is an excellent addition to our vibrant scientific community here at Hutchinson Metro Center, and we look forward to supporting their important research and innovation efforts,” said Simone President Joe Simone said in a statement. “Our mixed-use campus with medical, office, retail, dining and academic spaces is the perfect home for this type of cutting-edge work.”
Simone handled the deal internally, while Services‘S Kenneth Salzman brokered the deal for Adams together with the Revise groupSpokespeople for Revise and Salzman did not immediately respond to requests for comment.
Headquartered in Watertown, Massachusetts, Adams specializes in developing psychiatric and neurological drugs. The location at the three-story 1200 Waters Place is its second location in New York. The 41,500-square-foot building offers amenities such as a courtyard, fitness center, conference center and free parking.
Simone’s Hutchinson Metro Center is home to more than 80 tenants from the education, medical and government sectorsincluding Mercy College, ENT and Allergy Associates, Montefiore HospitalThe New York City Housing Authority and the Tax authorityamong other things.
In June 2017 The new Jewish homea health and day care center for seniors, signed a 20-year lease for 4,600 square feet on the first and second floors of 1200 Waters Place, Commercial Observer previously reported.
You can reach Isabelle Durso at [email protected].
