The MBTA has awarded a five-year, $355,000 management contract for the South Station bus terminal to Avison Young’s New England property management division.

Avison Young began managing the 312,000-square-foot terminal at 700 Atlantic Ave. in February. The terminal previously was managed by Newmark Knight Grubb Frank, MBTA spokesman Joseph Pesaturo said.

The property manager’s responsibilities include maintenance and repairs, construction supervision, tenant services, management of vendor contracts and preparation of annual budgets. The facility serves more than 12,000 passengers daily on 10 bus companies operating out of South Station.

The Avison Young team will be led by Steve Prozinski, principal and director of property management for the New England region.