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NEWS Last modified on October 10, 2014

San Francisco launches RFP for specialty retail stores lease

San Francisco International Airport has launched a request for proposals (RFP) for its Terminal 3 specialty retail stores lease.

The gateway is inviting interested businesses to attend the informational conference scheduled for Wednesday, October 22, 2014, at 10am at the Terminal 2 Partnering Room.

At the event, staff will discuss the desired concepts, minimum qualification requirements, address any questions relating to this lease and receive comments from participants.

The lease is intended to offer the non-exclusive sale of merchandise reflective of the proposed concepts, and is comprised of two retail locations totally approximately 2,196 square feet in post-security Terminal 3.

The lease term is five years with a single two-year option to extend, exercisable at the airport commission’s discretion, and the minimum acceptable proposal amount, which will also be the successful proposer’s minimum annual guarantee for the first year of the lease, is $150,000.

Annual rent will be the higher of the minimum annual guarantee or the sum of the percentage rent structured as follows: 12% of gross revenues achieved up to $500,000; plus, 14% of gross revenues achieved from $500,000.01 up to and including $1 million; plus 16% of gross revenues achieved over $1 million.

Visit http://www.flysfo.com/business-at-sfo/doing-business-sfo for more information.

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