C&W and JRT Will Lease New Retail at Port Authority
Cushman & Wakefield and JRT Realty Group have been tapped by the Port Authority to lease up the PABT’s 150k SF of retail space plus another 13k SF near the terminal on Ninth Avenue, the Wall Street Journal reports. Revamping the retail is part of a $90M project to improve the world’s busiest bus station. (That's except for bus stations in Bond movies, as the villain makes an escape into the implausibly thick crowd.)
C&W executive director Steven Soutendijk told the Journal the changes will happen gradually, as higher-end tenants move in. He stressed there will still be affordable options in the terminal, which serves 225,000 folks a day. Rents at the terminal run from $100/SF up to $500.