Agency continues to expand offerings to customers
Two new vendors will open and one will extend a lease at CTA rail stations later this year, continuing the agency’s efforts to further expand the variety of concessions already available to CTA customers.
The Chicago Transit Board today approved multiyear leases for:
1. Monroe/Adams Blue Line: Adams Newsstand
2. Midway Orange Line: Dunkin’ Donuts (extended lease)
3. Dempster-Skokie Yellow Line: Ciao Bella Express coffee and food shop
“CTA stations offer an attractive opportunity for any concession retailer and we are pleased to welcome these newest tenants,” said CTA President Forrest Claypool. “We continue to work toward leasing additional spaces, with the goal of adding even more customer amenities across the system.”
Combined, the three leases of the spaces—ranging in size from 201 to 237 square feet—will generate just over $65,000 annually in lease proceeds. The base leases, ranging from 5 to 10 years each, are projected to generate $536,800.
The three vendors bring the total number of leased spaces across the transit system to 72, with 82 percent of available CTA concession spaces leased. Earlier this year CTA signed leases for the first-ever Starbucks location on the CTA system, set to open at the North/Clybourn Red Line station later this year, as well as its first artisanal food vendor, Glazed and Infused gourmet doughnut shop, to open at the Armitage Brown Line stop.
Concession spaces are advertised with Jones Lang LaSalle and reflect market value for similar properties in each respective area. Since March 2011, CTA has engaged Jones Lang LaSalle to broker leases of available retail concession properties. Information on available retail concession spaces can be obtained at www.ctarealestate.com
# # #