San Francisco’s Airport Commission has released a Request for Proposals for San Francisco International Airport (SFO) Terminal 1 food and beverage concession leases. The RFP includes leases for five quick-serve restaurants, two sit-down restaurant and bars, one café and market, and one café.
Proposed minimum financial offers range between $240,000 and $620,000 for a ten-year term. Quick-serve restaurants and the café will rent for either the minimum annual guarantee or the sum of the percentage rent, whichever is higher. The percentage rent will follow this structure: 8 percent of gross revenues achieved up to and including $500,000, plus 10 percent of gross revenues achieved from $500,000.01 up to and including $1,000,000, plus 12 percent of gross revenues achieved over $1,000,000.
Sit-down restaurants and bars and the café and market will rent for either the minimum annual guarantee or the sum of the percentage rent, whichever is higher. The percentage rent will follow this structure: 8 percent of gross revenues achieved up to and including $1,500,000, plus 10 percent of gross revenues achieved from $1,500,000.01 up to and including $2,000,000, plus 12 percent of gross revenues achieved over $2,000,000.
The airport commission will hold informational conferences about the RFP on Wednesday, Jan. 24, 2018 at 10:00 a.m. and 1:30 p.m. at the Aviation Museum at San Francisco International Airport. Interested parties should only attend one session, as the same information will be presented at both.
Additional information on this RFP and other opportunities is available on SFO’s website.
