New Retail, Medical and Office Building in Greenwich, CT Welcomes CVS/pharmacy as Anchor Tenant

PRLog (Press Release) - Feb. 17, 2012 - GREENWICH, CT – In a boost for the Greenwich retail community, Simone Development Companies and Fareri Associates, LP has announced the grand opening of a new 24-hour, full service CVS/pharmacy at 644 West Putnam Avenue, a new 36,000-square-foot retail/office/medical building.

CVS/pharmacy is occupying 13,500 square feet on the ground floor of the modern two-story building which has a drive-through pharmacy window. The building features 17,000 square feet of ground floor retail space and 19,000 square feet of second floor office/medical/retail space. The building, which has direct access to West Putnam Avenue (Route 1) and Holly Hill Lane, is situated on a two-level underground parking garage with on-grade parking as well.  

“We are very pleased to have a high caliber company such as CVS/pharmacy as our anchor tenant. The business activity already being generated by the opening of CVS has been tremendous. We are seeing a great deal of interest by prospective office and medical tenants who want to be in an attractive and convenient location in one of the region’s premier communities,” said Joseph Simone, President of Simone Development Companies, a full service real estate investment company which developed the building in partnership with Fareri Associates, LP a Greenwich-based real estate investment and development firm.

“We are very pleased that our second store in Greenwich is part of the exciting development of the 644 West Putnam Ave. building, which provides us with a convenient and accessible location for delivering high quality pharmacy services and products to the community,” said Dale Lane, District Manager at CVS/pharmacy.

The completion of 644 West Putnam Avenue is a dramatic turnaround for a property that was once dubbed “the hole in the ground.” The property was originally excavated in 1999 by a car dealership that never went ahead with its plans. The site remained vacant for many years until Simone and Fareri acquired the site for development.

Simone Development Companies is a full service real estate investment company specializing in the acquisition and development of office, retail, industrial and residential properties in the tri-state area. The privately held company owns and manages an extensive range of commercial projects from multi-building office parks to retail and industrial space in the Bronx, Westchester County, Queens, Long Island and Connecticut. The company’s portfolio of more than 100 real estate properties totals over 5 million square feet of development space.

Fareri Associates, LP, Greenwich’s most active developer, is a family owned and operated real estate investment and construction company focusing on development and re-development of office, retail, mixed-use and residential properties primarily in Fairfield County, Connecticut and Westchester County, NY.

For leasing information about 644 West Putnam Avenue, contact Patricia Simone at (718) 215-3000 or John Fareri at 203-422-6700 ext. 116.

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ABOUT SIMONE DEVELOPMENT: Simone Development Companies is a full service real estate investment company specializing in the acquisition and development of office, retail, industrial and residential properties in the tri-state area. Visit http://www.simonedevelopment.com

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