The Airport Commission has commenced the Request for Proposals (“RFP”) process for the Terminal 3 Boarding Area F Retail Concession Leases (“Leases”). The RFP includes three retail Leases with the following proposed Lease specifications: Lease 1 – Three locations that include a Newsstand, Beauty Specialty Store, and a Gourmet Market; Lease 2 – Sunglasses Specialty Store; Lease 3 – Sports Apparel or Candy Specialty Store.
The Minimum Acceptable Financial offer for the Leases are: Lease 1 – $1,100,000.00; Lease 2 – $145,000.00; Lease 3 – $150,000.00. which will be the successful Proposer’s minimum rent for the first year of the Lease. Annual Rent shall be the higher of the Minimum Annual Guarantee or the following percentage rent: For Lease 1: 10% of Gross Revenues achieved up to and including $500,000.00; plus 12% of Gross Revenues achieved from $500,000.01 up to and including 1,000,000.00; plus 14% of Gross Revenues achieved over $1,000,000.00. For Leases 2 and 3: 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.
All Leases: Seven years with two (2) one-year options to extend at the Commission’s discretion.
An Informational Conference will be held on Thursday, November 15, 2018 at 10:00 a.m. at the Aviation Museum at San Francisco International Airport. This is a time when Staff will discuss desired concepts, minimum qualification requirements, address any questions relating to the Leases 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 or via e-mail at [email protected].