The NFTA’s Property Management Group serves as the Authority-wide provider of real estate services, acting as the negotiating entity for real estate matters.
Currently the Business Center’s portfolio of real estate includes 480,000± square feet of industrial warehouse, distribution, and associated office space; 200+ acres of developed and undeveloped real estate. Encumbering these properties are 85+ leases of building space, ground rental, and occupancy/license agreements; 14+ miles of railroad rights of way containing in excess of 80 separate pipe, wire, and ground leases. In addition to the property management of these assets, the Business Center is responsible for establishing rental rates and tenant fees and the negotiation and preparation of real estate agreements in order to secure new tenants and provide for the renewal of existing contracts.
Real Estate Services
The Department is responsible for performing real estate services for all other NFTA divisions and Metro.
This work is comprised of:
- Securing and analyzing real estate appraisals.
- Negotiating leases for the real estate of NFTA and Metro transportation operations.
- Seeking Requests for Proposals or competitive sealed bids for the sale of Authority and Metro owned real estate.
- Preparation of real estate net income analysis reports.
- Management of surplus transportation facilities.