According to the public agenda for an upcoming Port Authority of New York and New Jersey board meeting American Express is in the process of finalizing a 15 year lease (with 5 year optional renewal) for an airport lounge at Newark Liberty International Airport (EWR). The lounge would be located on the third floor in the new 50,000 square foot expansion of Terminal A. The lounge itself would be 18,000 square feet (largest centurion lounge).
American Express would pay a total of $121.5 million over the term of the lease and would also invest another $100 million for the terminal construction expansion. The lease would start January 1, 2022 and be expected to open August 1, 2023 (this is when the lease payments start).
Hat tip to TPG