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Deals & Dealmakers

Groundbreaking medical practices fill Simone property

Simone Development Companies has announced that Next Generation Pediatrics and Greenwich Medical Partners have signed a 5,623 s/f lease for combined offices at the developer’s newest Greenwich development project located at 644 West Putnam Avenue, a 36,000 s/f retail/office/medical building that is now 100 percent leased.

Christopher Cortese, managing director of Newmark Grubb Knight Frank, represented the tenants in the deal, while Patricia Simone of Simone Development and Cindy Jenereaux of Fareri Associates, represented the owners.

In addition to providing premium health care for children and teens through Next Generation Pediatrics, the partnership with Greenwich Medical Partners, led by Dr. Caleb Moore, means the combined practices now offer internal medicine services for adults as well.

Founded by Dr. Erik Cohen, Next Generation Pediatrics provides a revolutionary office experience at facilities that cultivate a fun visit for both children and parents.

By limiting the number of patients their pediatricians see on any given day to six to eight, Next Generation allows the physicians to provide a significantly increased level of personalized service by decreasing the number of patients in the practice.

Greenwich Medical Partners has adopted a similar approach to their teen and adult practice.

Many of the criticisms of the current model of health care originate from the fact that each physician must care for too many patients. A traditional pediatrician often sees 30 to 40 patients in a single day.

“We have a lot less patients and a lot more time to care for them,” said Dr. Cohen. “Our lower numbers give us the flexibility to offer such unique amenities as home visits and direct physician cell phone access. ”

In addition, Next Generation provides an environment that is as fun as it is functional with age-appropriate exam rooms and the optical entertainment systems similar to those found in children’s museums.

In addition to Next Generation Pediatrics and Greenwich Medical Partners, WESTMED Medical Group, a large multi-specialty medical practice based in Westchester County, NY, previously leased 9,347 s/f on the second floor of the two-story building for medical offices and 3,356 s/f on the ground level for a walk-in medical clinic.

WESTMED is scheduled to occupy the space by Fall 2015. CVS Pharmacy occupies 16,000 s/f on the ground floor of 644 West Putnam Avenue as well.

The property at 644 West Putnam Avenue was developed by Simone Development Companies in partnership with Fareri Associates, LP, a Greenwich-based real estate investment and development firm.

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 designed this property to bring the highest quality of patient-centered care with a focus on measured excellence to Fairfield County, and with this latest lease we have achieved that goal,” said Ms. Simone, Vice President of Leasing and Operations of Simone Development.

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