THE PORT AUTHORITY OF NY & NJ

Press Release Article


PORT AUTHORITY COMMISSIONERS BREW PREMIUM BLEND FOR JOURNAL SQUARE PATH COMMUTERS

Date: Jun 30, 2016
Press Release Number: 113-2016

Board authorizes "Grande" opening for new Starbucks, continuing efforts to update the retail menu for passengers using Jersey City transit hub

The Port Authority’s ongoing initiatives to enhance the retail environment at PATH's Journal Square Transportation Center received a boost today with the Board of Commissioner’s approval of a 10-year lease agreement with premium coffee retailer Starbucks.

"The addition of new retail businesses in the Journal Square Transportation Center will enhance the experience for the 37,000 commuters who travel through the transportation facility daily," said Port Authority Chairman John Degnan. "We are pleased that a nationally renowned company like Starbucks has chosen to open a new outlet in this PATH facility, bringing with it not only more dining options but jobs and economic activity."

Anticipated to open in early August, the lease with Starbucks will generate $1.4 million for the Port Authority over the 10-year span in exchange for 2,079 square feet of retail space on the center’s plaza level. Additionally, the lease agreement allows the Journal Square Starbucks to establish an outdoor seating area.

The Port Authority’s efforts to reinvigorate the Journal Square Transportation Center will continue, building on recent initiatives. Starbucks will join other new retailers in the area, such as PJ Ryan’s Squared, a sports bar that opened last month, Chickpea restaurant and existing businesses, like the two-story Duane Reade located on the plaza level.

Contact:
The Port Authority of New York and New Jersey
212-435-7777

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. 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 construction crews are building the iconic One World Trade Center, which is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State 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, please visit http://www.panynj.gov.