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- Following the acquisitions by CB Richard Ellis of Insignia/ESG in 2003 and Trammell Crow in 2006, oversaw the New York Tri-State Region’s integration of staff, systems and facilities.
- Led negotiations for successful net lease of World Trade Center, valued at $3.2 billion. Closed July 2001. Directed the administration and coordination of net lessee and Port Authority property interests in World Trade Center site redevelopment.
- Following September 11, 2001, oversaw relocation of 2,300 agency employees and managed the build-out of 650,000 square feet of World Trade Center replacement space in New York and New Jersey.
- Directed leasing of commercial properties, including World Trade Center, Newark Legal Center, Teleport, and transportation and industrial facilities (about 700 leases). Since 1997, executed leases for 5.8 million square feet in the World Trade Center, and 850,000 square feet at other properties. Raised World Trade Center’s office occupancy from 78% in 1996 to 97% in 2001. World Trade Center won BOMA-NY’s 2000 Building of the Year award.
- Achieved successful market repositioning of World Trade Center’s retail mall. From 1996 to 2000, sales increased from $100 million to $190 million, or about $900 per square foot, placing the mall among the most productive in the country. Lease revenues increased commensurately. Received 1999 Downtown-Lower Manhattan Association’s Business Hero award for World Trade Center’s retail renaissance.
- Initiated new programs to support visual and performing arts at the World Trade Center, including artist residency program in unleased space, and free outdoor summer festival. In 2002, co-chaired the initiative to develop the first annual Downtown NYC River to River Festival, designed to help revitalize Downtown Manhattan.
- Managed disposition of properties no longer required by the Port Authority (e.g., Yonkers Industrial Park, net lease of Newark Legal Center), and acquisition of properties required for expansion of facilities and new endeavors (e.g., Airtrain). The 2001 net lease of the Newark Legal Center won New Jersey’s NAIOP Deal of the Year Award.
- Managed the Port Authority’s corporate real estate and facility requirements, including leasing, fit-out, capital improvements, operating and maintenance of 500,000 square feet of Port Authority-occupied space in New York, and 600,000 square feet in New Jersey. Balanced operational needs of internal clients with short- and long-term costs. Maintained constantly evolving master space plan. Operating budget in 2001: $29 million, including construction, maintenance and service contracts.
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Cherrie Nanninga
Chief Operating Officer
New York Tri-State Region
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