Transwestern Awarded Prestigious Management Assignment For 2 Million-Square-Foot MTA Portfolio

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Apr 18, 2013, 09:39 ET

NEW YORK, April 18, 2013 /PRNewswire/ -- Transwestern's New York office today announced that it has been retained by the Metropolitan Transportation Authority (MTA) to manage a portfolio of nearly 2 million square feet, consisting of four properties in the New York City area. The prominent assignment for MTA − far and away the largest transportation system in the U.S. – includes the MTA's New York City Transit headquarters at 2 Broadway, the Metro-North Railroad operations center at 525 North Broadway in White Plains, N.Y and the Jamaica Control Center in Jamaica, N.Y.

"We are thrilled to have the opportunity to work with such a reputable organization," said Jim Millard, principal with Transwestern. "We're confident that the disciplines and resources we bring to this major property management assignment in New York City will enable us to deliver legendary service to the MTA. We hope to develop a long-standing, value-enhancing relationship with them going forward."

Built in 1959, 2 Broadway is a 1,595,000-square-foot, 34-story, Class A office tower in Manhattan's Financial District. The building serves as the MTA's New York City Transit headquarters and is slated to become the sole headquarters as the MTA consolidates over the next year.

525 North Broadway is a 87,700- square-foot building located immediately adjacent to the North White Plains Metro-North train station. This critical facility houses Metro North Railroad operations and a key data center.

The Jamaica Control Center (JCC), 141-41 94^th Ave in Jamaica, N.Y., is a 165,000-square-foot, seven-story, Class A office building built in 2003. It is occupied by the Long Island Rail Road Company, the MTA Police Department and the Port Authority of NY/NJ, and provides a transfer station from the subway to the Air Tran to JFK International Airport.

The portfolio assignment also includes two buildings in Mineola, N.Y., located at 242 and 250 Old Country Road.

Millard and Eric Mockler, Transwestern's President, Mid-Atlantic, will be overseeing property management services for the MTA portfolio. Transwestern manages nearly 3 million square feet and leases approximately 1.1 million square feet in the Northeast, the newest U.S. expansion market for the 35-year-old real estate firm.

ABOUT THE METROPOLITAN TRANSPORTATION AUTHORITY
The Metropolitan Transportation Authority is North America's largest transportation network, serving a population of 14.9 million people in the 5,000-square-mile area fanning out from New York City through Long Island, southeastern New York State, and Connecticut. MTA subways, buses, and railroads provide 2.63 billion trips each year to New Yorkers – the equivalent of about one in every three users of mass transit in the United States and two-thirds of the nation's rail riders. MTA bridges and tunnels carry nearly 300 million vehicles a year – more than any bridge and tunnel authority in the nation.

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern. Follow Transwestern's New York office on Twitter: @TranswesternNYC.

SOURCE Transwestern