TR Advisors - Results with the MBTA

Broad Capabilities. Smart Solutions. Measurable Results.

TRA was the MBTA’s exclusive real estate asset manager for 18 years and generated over $368 million in collected non-fare revenues and created over $650 million in cash and non-cash value to the MBTA. The MBTA’s Real Estate and Asset Development Department, through its partnership with TRA, exploited its vast real estate holdings to maximize non-fare revenues and to promote public/private partnerships and economic development throughout Eastern Massachusetts.

 

Increased Revenue and In-kind Value from Real Estate Assets by Implementing Best Practices.

Annual Sales Income: Tripled the number of annual sales transactions and created a pipeline of potential surplus
property sales and TOD development sites – completed over 55 TOD-related transactions including complex ground
and air rights lease transactions
Annual Lease Income: Quintupled annual recurring lease income, thus developing a reliable stream of revenues of
over $15 million per year from real estate assets
Retail Concessions: Reorganized the MBTA’s retail program in transit and commuter rail stations, resulting in more
vendors, improved choices for riders, and the doubling of revenues from the retail portfolio
Outdoor Advertising: Increased annual outdoor advertising revenues 16-fold from a variety of programs including
billboards, sponsorships, web advertising, logo merchandising; and bus shelters
Bus Shelters: Obtained 200+ new bus shelters at no capital or on-going maintenance cost to the MBTA to resolve
Title VI service issue, and obtained associated advertising sales revenues

Telecommunications Facilities: Identified undocumented telecommunications
installations and placed them under agreement, which will generate cumulative
payments of over $25 million to the MBTA over the lease term
Telecommunications Marketing: Developed an aggressive
telecommunications marketing strategy leading to new agreements which
tripled the MBTA’s telecommunications rental stream and obtained multi-
million dollar infrastructure improvements for the MBTA; developed a joint
program for marketing MBTA and MassDOT properties
Subway Wireless: Implemented one of the first neutral host transit subway
wireless systems in the country
Utility Rate Adjustments: Implemented higher utility rate schedules based
upon real estate principles, verified installations, and updated agreements with modern terms and conditions
Encroachments: Implemented a program of identifying and curing encroachments on right of way
Line by Line Review: Utilizing LandTracker™, completed a desktop review of 400 miles of right way resulting
in a pipeline of surplus property sales, TOD opportunities, and identified encroachments

 

Created State-of-the-Art Data Base Management Systems.

Complete GIS Mapping and Real Estate Inventory Database: Created LandTracker™, a multi-dimensional
web-based property inventory database for tracking the MBTA’s real property assets utilizing Geographic
Information System (GIS) technology
Tenant Management: Implemented new tenant management/AR database and collection procedures, reducing
outstanding receivables by seven figures and continue to maintain annual aged receivables at better than industry
standards of less than 2% per year
Document Updating: Updated over 800 existing out-of-date documents (more than 50% of which were more than
50 years old) to current market standards and market rents
License Procedures and Project Tracking: Updated licensing procedures and created a project database that
reduced the response time by 50%

 

Special Assignments.

Assisted in the acquisition and relocation activities for over 150 parcels of
land for the Greenbush Line; Silver Line, Indigo Line and other parcels
required for MBTA projects
Prepared bid documents and assisted with bid process for traditional transit
advertising procurement, website advertising and logo merchandising
procurements
Managed and wrote solicitation for power purchase agreement for solar
energy installations
Consulted on implementation of wind turbine development

Implemented a WiFi program on the Commuter Rail System

 

To learn more about TRA, visit us at TRAdvisors.com.
To learn more about TRA Brokerage, visit us at TRABrokerage.com.
For doing business with MBTA real estate, visit mbtarealty.com.