NEW YORK CITY—An auto parts dealer has signed a long-term lease in a relocation deal that will keep it in the Bronx.
LKQ Hunts Point Auto Parts agreed to take over 73,000 square feet at 1390 Spofford Ave., in the Hunts Point area, for 15 years. The property belongs to Simone Development Companies.
Ownership's Joanna Simone, VP of leasing and property management operations, negotiated the lease. The agreement starts at $17.75 per square foot gross and represents a relocation for the tenant from their long-term home at 1480 Sheridan Expressway—another Simone Development property—also in Hunts Point.
LKQ Hunts Point Auto Parts, which has called the Bronx home for more than 30 years, reportedly was attracted to the modern free-standing one-story warehouse/distribution building due to its location, 26-foot clear ceiling heights, 11 loading docks, three drive-in bays and on-site parking, among other factors.
“Simone Development is extremely pleased to have been able to accommodate LKQ Hunts Point Auto Parts' requirements for their relocation ensuring the company's long-term commitment to the Bronx,” says Simone. “This new lease preserves dozens of jobs in the borough and provides the tenant with a new home that better suits its immediate and future business needs.”
LKQ Hunts Point Auto Parts agreed to take over 73,000 square feet at 1390 Spofford Ave., in the Hunts Point area, for 15 years. The property belongs to Simone Development Companies.
Ownership's Joanna Simone, VP of leasing and property management operations, negotiated the lease. The agreement starts at $17.75 per square foot gross and represents a relocation for the tenant from their long-term home at 1480 Sheridan Expressway—another Simone Development property—also in Hunts Point.
LKQ Hunts Point Auto Parts, which has called the Bronx home for more than 30 years, reportedly was attracted to the modern free-standing one-story warehouse/distribution building due to its location, 26-foot clear ceiling heights, 11 loading docks, three drive-in bays and on-site parking, among other factors.
“Simone Development is extremely pleased to have been able to accommodate LKQ Hunts Point Auto Parts' requirements for their relocation ensuring the company's long-term commitment to the Bronx,” says Simone. “This new lease preserves dozens of jobs in the borough and provides the tenant with a new home that better suits its immediate and future business needs.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
