GTJ REIT is a fully integrated, self-administered and self-managed, public, non-listed REIT engaged in the acquisition, ownership, management and operation of commercial real estate in the Northeast and Mid-Atlantic areas.
Our roots trace back to the 1920s, when the New York City’s street railways were dismantled in favor of bus franchises. GTJ REIT evolved from a diverse group of surface transportation companies that had operated independently throughout New York City for decades. Entrepreneurs combined themselves into one company, Green Bus Lines, Inc. (“Green”). Green grew quickly, absorbing several bus companies. The Company purchased the Manhattan & Queens Transit Company, providing Green with routes connecting Jamaica and Manhattan. Other acquisitions included Triboro Coach Corporation, Jamaica Buses, Inc., and Command Bus Company, Inc.
During the 2005-2006 time period, bus lines were all acquired by the city as a result of changing dynamics in the industry. The Company evolved into a real estate company. GTJ retained ownership of seven real estate properties, and entered into long-term leases with the City on four properties to accommodate the City’s need for bus depots and maintenance facilities. As part of that transformation process, the Company elected to be treated as a real estate investment trust, or REIT. To complete the evolution, the Company underwent a process of shedding all businesses and assets that were no longer compatible with its real estate focus.
In January 2013, the Company closed on a transaction with a privately held joint venture in which the Company acquired ownership interests in a portfolio of 25 commercial properties located in New York, New Jersey and Connecticut. As a result of subsequent acquisitions, the company owns 47 properties, approximately 5.6 million square feet on approximately 350 acres of land.