Joseph Simone and Joe Deglomini Celebrate Tenant Smith Electric Vehicle’s IPO in Anticipation of First New York City Plant

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Executives Joe Deglomini and Joseph Simone, from Simone Development Companies, join Smith Electric Vehicles Corp., a leader in zero-emission, all-electric commercial vehicles, as they celebrated the company’s recent IPO.

Executives from Simone Development Companies

Executives from Simone Development Companies joined Smith Electric Vehicles Corp., a leader in zero-emission, all-electric commercial vehicles, as they celebrated the ceremonial ringing of the bell at NASDAQ on September 5 marking the company’s recent IPO. Smith Electric has leased Simone Development’s 90,000-square-foot industrial building at 295 Locust Avenue in the Port Morris section of the Bronx, where they will establish a new clean technology manufacturing facility assembling electric trucks at the site. The move, expected later this month, will create more than 100 new jobs in the Bronx. “We are absolutely thrilled that Smith Electric Vehicles will be opening their new manufacturing facility in our state-of-the-art industrial property. This is a significant development for the entire region’s economy. Not only will this facility create new jobs, it will also produce clean energy vehicles to improve our environment,” said Joseph Simone, President of Simone Development Companies. Smith Electric Vehicles Corp., which is based in Kansas City, Missouri, is renovating and equipping the building for its manufacturing assembly, service and sales facility, where the company will manufacture its Newton™, a zero-emission all-electric commercial vehicle. In addition to making investments in renovations, equipment and training, Smith Electric is receiving a package of state and city incentives valued at over $6 million. Built in 2002, the Simone property at 295 Locust Avenue was formerly occupied by the Murray Feiss Company, a major distributor of interior and exterior residential lighting and lamps. The building features a 70,000-square-foot ground floor and a 20,000-square-foot mezzanine with 5,000 square feet of office space. Pictured (L to R) are: James D. MacDonald, Director of Leasing, Joseph Kelleher, chief operating officer, Joe Deglomini, principal, and Joseph Simone, president of Simone Development Companies; and Bryan Hansel, chairman and CEO of Smith Electric Vehicles Corp.

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Dean Bender
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