The service runs between 164 Newbury St., on Route 1 South, to Logan Airport. The current contract with McGinn Bus Company, Inc., ends on Aug. 31, 2014.
The Peabody facility includes a 9.66-acre lot of land as well as an 8,500 square-foot building that houses the ticket office, waiting area and customer amenities.
The operator will be responsible for all aspects of operating and managing the bus service.
The agreement will be for seven years ending on or about Aug. 31, 2021 with a three-year option possible.
Sealed proposals are due by May 1.
McGinn Bus Company, Inc., of Lynn, currently runs the Peabody Logan Express. On weekdays, the bus leaves Peabody once an hour between 3:15 a.m. and 10:45 p.m. and leaves hourly from Logan between 6:15 a.m. and 11:15 p.m. The bus travels to and from Logan less often on the weekend.