The Airport Commission has commenced two Request for Proposals (RFP) processes for retail concession leases in Harvey Milk Terminal 1 and Terminal 2. The opportunities include 4 separate leases with the following business terms:
RFP 1 – Harvey Milk Terminal 1 Retail Concession Leases Phases 3 and 4
Harvey Milk Terminal 1 Retail Concession Lease – Traveler’s Retreat: Rent is the higher of the Minimum Annual Guarantee ($135,000.00) or
12% of Gross Revenues for service, plus
14% of Gross Revenues for retail merchandise.
Harvey Milk Terminal 1 Retail Concession Lease – Apparel: Rent is the higher of MAG ($365,000.00) or
12% of Gross Revenues achieved up to and including $1,000,000.00; plus
14% of Gross Revenues achieved from $1,000,000.01 up to and including $2,000,000.00; plus
16% of Gross Revenues achieved over $2,000,000.00.
Harvey Milk Terminal 1 Retail Concession Lease – Bookstore: Rent is the higher of MAG ($230,000.00) or
8% of Gross Revenues achieved up to and including $2,000,000.00; plus
10% of Gross Revenues over $2,000,000.00.
RFP 2 – Terminal 2 Market and Harvey Milk Terminal 1 Specialty Retail Stores Lease Rent is the higher of MAG ($1,000,000.00) or
12% of Gross Revenues achieved up to and including $2,500,000.00; plus
14% of Gross Revenues achieved from $2,500,000.01 up to and including $5,000,000.00; plus
16% of Gross Revenues achieved over $5,000,000.00.
All Leases shall have a Term of twelve years. The Informational Conference will be held on Thursday, October 3, 2019 at 10:00 a.m. at the Aviation Museum and Library at San Francisco International Airport.
Please see http://www.flysfo.com/business-at-sfo/current-opportunities for additional information. The Principal Property Managers for these opportunities are Clarissa Mamaril for RFP 1 and Veronica Zamani for RFP 2. Both can be reached at Revenue Development and Management at (650) 821-4500.
