Airport Plazas to Design and Construct New Retail Plaza at JFK Expressway

Airport Plazas, LLC  (a subsidiary of GAZ Realty, Inc) was awarded through an RFP process the rights to begin the design, construction and operation of an Airport Plaza at JFK International Airport.

Airport Plazas is a specialized developer of “Next Generation Airport Retail” properties across the country. The JFK project will provide gas, diesel, car wash, compressed natural gas, C-store, light auto repair, pick-up & drop-off dry cleaning and a food court with leading regional and national tenants. The development will also include a dedicated truck parking facility across the street from the main retail site. The location of the site will be at the first exit off the JFK Expressway as you approach the airport.

Port Authority of NY & NJ Chairman Anthony R. Coscia said, "This facility optimizes the use of our airport property and creates close to 60 new jobs to stimulate our local economy. It also provides a key truck parking facility that will encourage future growth in our air cargo business."

Port Authority of NY & NJ Executive Director Chris Ward said, "Difficult economic times require us to develop innovative ways to extract value from our world-class transportation facilities. This is a perfect example. It will provide an important amenity for our airport customers, and new revenue to the Port Authority."

The new retail plaza will provide a waiting area and free Wi-Fi Internet access, flight Information screens, granite public restroom facilities, and an outdoor seating area. Currently, JFK offers a cell phone lot without any such amenities. “With our company headquartered in New York, and the status of this airport, the JFK project was a significant win for us", said George Abi Zeid, President and CEO of Airport Plazas.

JFK services over 48,000,000 passengers annually and employs more than 35,000 people, excluding taxi, limo and airport related staff. “We believe that there is a large untapped market in non-terminal retail services at airports”, said Airport Plazas' Stefano Pascucci, Executive Vice-President of Business Development. The new retail plaza will be on a total of 5.75 acres of property that will be redeveloped by Airport Plazas. The company expects the plaza to open before summer 2012.

In addition to this project, Airport Plazas is currently in the midst of construction of a Plaza at Newark Liberty International Airport scheduled to open July 2010. Airport Plazas has also received approvals for similar projects at Cincinnati/Northern Kentucky International Airport, Tulsa International Airport, Southwest Florida International Airport (Fort Myers) and several others.


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