As NJ TRANSIT’s retail advisor, Greystone is proud to have assisted the agency bring a renewed retail experience to Secaucus Junction. On behalf of NJ TRANSIT, Greystone administered an RFP process which resulted in the NJ TRANSIT selecting Faber News and Dunkin’ as the successful proposer. As part of the successful proposal, the retailer agreed to a phased approach to remodeling the space in order to maximize customer amenities and revenues, while minimizing disruptions to customers.
The leased space includes 3,200 square feet in the main corridor of the station, and will provide NJ TRANSIT with over $3.4 million in non-farebox revenue over the 8-year term. In addition to non-farebox revenues, the retailer provides NJ TRANSIT’s customers with increased dining and convenience options.
The retailer is additionally making approximately $792,000 in leasehold improvements to the space. Greystone worked with the retailer to ensure a modern design, including LED lighting, an open concept, easy-to-see signage, and traffic flow efficiency improvements for customer circulation. The new space additionally includes an innovative beverage tap system, bringing Dunkin’s nitro-infused cold brew coffee to the station.
Greystone provides NJ TRANSIT with a wide variety of real estate advisory services, including drafting and administering the agency’s real estate RFP process, managing the agency’s portfolio of tenants, and advising on Transit-Oriented Development initiatives.