Construction Moving Ahead on New 35,000 SF Retail/Office/Medical Building in Greenwich, CT

Nov. 5, 2010 - PRLog -- GREENWICH, CT – A long vacant site on West Putnam Avenue in Greenwich will soon be home to a new 36,000-square-foot retail/office/medical building.

Construction of the two-story structure at 644 West Putnam Avenue is underway and a major retail tenant – CVS Pharmacy – has already signed a lease for space in the building. Occupancy is scheduled for Spring 2011.

“We are delighted to be moving forward with this exciting and attractively designed building that will bring new business activity to the Greenwich area. We are particularly pleased to have CVS as our major retail tenant,” said Joseph Simone, President of Simone Development Companies of New Rochelle, NY. Simone is developing the project in partnership with Fareri Associates, a Greenwich-based real estate development firm whose president is John Fareri.    

644 West Putnam Avenue features 17,000 square feet of ground floor retail space and 19,000 square feet of second floor office/medical/retail space. CVS is occupying 13,500 square feet on the ground floor which leaves 3,500 square feet available for lease. The ground floor space is approved for a drive-up bank ATM. The building, which has direct access to West Putnam Avenue (Route 1) and Holly Hill Lane, is situated on a two-level parking garage.  

Mr. Simone said the second floor space available for lease is ideally suited for a medical practice. “In addition to having ample parking for patients, this building will have a full service CVS Pharmacy and is minutes from nearby Greenwich Hospital. There’s a growing demand for high quality, conveniently located medical space in this market. We anticipate tremendous interest in our building from medical practices throughout the area,” he said.

644 West Putnam Avenue is located on a site that was once dubbed “the hole in the ground.” The 1.6-acre property was originally excavated in 1999 by a car dealership which never went ahead with its plans. The property remained vacant for many years. Plans for the site were approved earlier this year.

For leasing information, contact Patricia Simone at (914) 576-5000.

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ABOUT SIMONE DEVELOPMENT: Simone Development Companies is a full service company with over 40 years of real estate development experience. The company owns and operates over 90 commercial properties totaling more than 4 million square feet in the Tri-State Area. The company’s diverse portfolio includes commercial, retail and residential properties within 75-mile radius of its New Rochelle headquarters. Among the company’s major properties is the 42-acre Hutchinson Metro Center office complex in the Bronx.