the Port Authority of New York
of New York & New Jersey is working
to attract new users to the facility.
NEW YORK CITY-In an effort to revitalize the facility and improve amenities for commuters, the Port Authority of New York & New Jersey gave two national retailers the green light for space inside the aging Port Authority Bus Terminal at 42nd Street and Eighth Avenue in Midtown Manhattan at a public meeting on Aug. 1. The Port Authority Board of Commissioners approved retail leases for Starbucks and PNC Bank, a Port spokesman confirms to GlobeSt.com.
According to a resolution from the Port, Starbucks inked a deal for approximately 2,165 square feet on the ground floor of the terminal’s south wing for a 10-year term and will invest approximately $1 million over the next four months to build its new store. On the other side of the building, PNC Bank is leasing 4,910 square feet of space located on both the ground level and second floor of the north wing, with another 150 square feet for ATMs on the ground floor of the south wing. Under its lease agreement with the Port Authority, the bank will invest more than $3 million in terminal improvements. Both deals were brokered by Vornado Realty Trust.
The new tenants are the latest businesses to set up shop in the bus terminal since the bi-state agency began discussions to revamp and make improvements to the facility. Earlier in the year, the Port also approved a three-year, 2,774 square foot deal for Discovery LLC, which will house the Cake Boss Caf