Port Authority maximizes supplier diversity with the award of retail brokerage services contract – bi-state agency hires 100% diverse team JRT Realty Group and MCCGUSA to lead multi-year assignment at Midtown Bus Terminal
New York, NY – 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!”
About the Port Authority of New York and New Jersey
The Port Authority of New York and New Jersey is a bi-state agency that builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. For over a century, the agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the states of New York or New Jersey or from the city of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information or for updates from the Now Arriving blog, please visit https://www.panynj.gov/blog.
About JRT Realty Group
JRT Realty Group Inc., the nation’s largest certified woman-owned commercial real estate services firm, provides a full-range of customized services, including strategic planning, real estate portfolio management, agency leasing and marketing, and tenant representation, among others. For more than 25 years, the company has assisted clients in achieving their supplier diversity goals and has created new and lasting growth opportunities in the industry for women and other under-represented groups. To learn more, visit www.jrtrealty.com.
About MCCGUSA, Ltd.
MCCGUSA Ltd. began in 1990 as a full-service management consulting firm providing superior quality management advisory services to clients in the New York area. Over the next 20+ years, the firm grew into a premier and recognized consulting and project management firm in the NYC Metro region, nationally, and internationally. Today, the firm provides a wide range of services including management consulting, project management, financial advisory, and real estate services including brokerage and development. To learn more, visit www.mccgusa.com
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