MONTEFIORE MEDICAL CENTER TO OCCUPY 280,000 SF TOWER
NEW YORK CITY — Montefiore Medical Center has reached an agreement with owner and developer Simone Development to build out and occupy a new, 11-story tower in the Bronx. The 280,000-square-foot building will be part of Simone's Hutchison Metro Center, which is scheduled for completion in the third quarter of 2014. The new tower will include an ambulatory surgery center, an advanced imaging center, an onside laboratory and pharmacy and primary and specialty care practices. Montefiore will spend a reported $142 million on the new facilities. The company's lease is for 16 years, after which there is an option to extend the lease or purchase the tower.