The Port Authority of New York and New Jersey and JRT Realty Group, Inc. (JRT) announced today that they have entered into a multi-year contract for expert professional retail leasing and marketing services at the Midtown Bus Terminal. With some 130,000 square feet of retail space and more than 70 million passenger trips annually, the Midtown Bus Terminal is the busiest bus terminal in the world.
All efforts were made towards maximizing supplier diversity on this assignment, including the participation of Women-owned Business Enterprises (WBEs) and Minority Business Enterprises (MBEs). For the first time in the agency’s history, the Port Authority’s real estate team awarded the assignment for retail leasing and marketing to a professional services team that is comprised entirely of diverse businesses. JRT, which is the largest certified WBE commercial real estate firm in the nation and has been providing retail leasing services at the Midtown Bus Terminal for the past five years, will serve as the lead on the assignment. MCCGUSA, Ltd., a certified MBE firm, and recognized real estate brokerage, consulting, and project management firm, will serve as subconsultant on the project.
JRT’s Founder and CEO Jodi Pulice noted “The Port Authority is to be commended for making this first-of-a-kind contract selection – a major step forward in supplier diversity. With the award of this important assignment to a team that is 100% comprised of diverse talent, the agency is underscoring its belief that the meaningful participation of diverse firms in professional services is not only the right thing to do from a business perspective, but also reflective of a responsibility to truly advance the cause of diversity, equity and inclusion.”
Leah Bassknight, Assistant Director of Real Estate at the Port Authority, said, “We are excited to work with the JRT and MCCGUSA team to jointly re-brand and re-energize the Midtown Bus Terminal as a true retail destination that is home to a vibrant mix of name brands that can serve the needs of more than a quarter of a million commuters each day. Our efforts in the coming months will begin a cycle that proves, without a doubt, that the resilience of New York and the resurgence of retail in the city is real and here to stay!”
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