The Real Deal New York

Cushman, JRT pick up gig marketing bus terminal’s retail

Brokers to market 150K square feet of space at Port Authorities' transit hub

January 26, 2015 11:35AM

Shops at the Port Authority Bus Terminal

Shops at the Port Authority Bus Terminal

Cushman & Wakefield and JRT Realty Group will be marketing the Port Authority Bus Terminal’s 150,000 square feet of retail space.

The firms will also market roughly 13,000 square feet of available space at a nearby site on Ninth Avenue, according to the Wall Street Journal. The brokers aim to attract new, specialty-food vendors and shops to offer more options to the roughly 225,000 daily commuters who pass through the terminal, the newspaper reported.

“The retail space at the bus terminal is, just like Grand Central Terminal, extraordinarily valuable,” Port Authority executive director Patrick Foye told the paper.

The Port Authority will invest $90 million in the bus terminal to add additional bypass lanes, repair ceilings and to upgrade elevators and vestibules.

The massive terminal — which spans 40th Street to 42nd Street between Eighth and Ninth avenues — will also get wireless internet and improved cellular service. [WSJ] — Claire Moses

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