The Airport Commission has commenced the Request for Proposals (RFP) process for the Boarding Area C Retail Concession Leases. The RFP includes two retail Leases with the following proposed Lease specifications:
PROPOSED LEASE SPECIFICATIONS
Concepts:
Lease No. 1: Retail Marketplace
Lease No. 2: Newsstand
Premises:
Lease No. 1: Approximately 1,996 sq. ft.
Lease No. 2: Approximately 510 sq. ft.
Term:
Both Leases: Seven years commencing on the Rent Commencement Date, with two (2) one-year options to extend at the Commission’s discretion.
Minimum Acceptable Financial Offer:
Lease No. 1: $1,150,000.00
Lease No. 2: $535,000.00
Annual Rent:
Both Leases: For each Lease Year, the base rent shall be the higher of the Minimum Annual Guarantee (“MAG”) or the following tiered percentage rent:
- 12% of Gross Revenues achieved up to and including $500,000.00; plus
- 14% of Gross Revenues achieved from $500,000.01 up to and including $1,000,000.00; plus
- 16% of Gross Revenues achieved over $1,000,000.00.
An Informational Conference will be held on Thursday, July 12, 2018 at 10:00 a.m. at the Aviation Museum at San Francisco International Airport. This is a time when staff will discuss desired concept, minimum qualification requirements, address any questions relating to the Lease and receive comments from participants. Small, local and disadvantaged businesses are encouraged to participate.
Please see https://www.flysfo.com/business-at-sfo/current-opportunities for additional information or call Tomasi Toki, Principal Property Manager, Revenue Development and Management Department, (650) 821-4500.
