San Francisco Airport announces T1 F&B concession opportunities
San Francisco Airport Commission has begun the Request for Proposals (RFP) process for the Harvey Milk Terminal 1 food and beverage concession leases in Phases 3 and 4.
The RFP includes a Gourmet Grab & Go Market Lease, a Food Hall and Pop Up Food Program Lease, a Sit-Down Restaurant & Bar Lease, and two Small Business Enterprise Set-Asides for a Coffee Lease and a Japanese/Poke Lease.
The proposed Minimum Annual Guarantees (MAGs) range from US$275,000 to US$1,685,000.
Rent for the Grab & Go Market, Coffee, and Japanese/Poke Leases shall be the higher of the MAG or the sum of the percentage rent structured as follows: 8% of gross revenues achieved up to and including US$500,000.00, plus; 10% of gross revenues achieved from US$500,000.01 up to and including US$1,000,000.00, plus; 12% of gross revenues achieved over US$1,000,000.00.
Rent for the Sit-Down Restaurant & Bar Lease shall be the higher of the MAG or the sum of the percentage rent structured as follows: 8% of gross revenues achieved up to and including US$1,500,000.00, plus; 10% of gross revenues achieved from US$1,500,000.01 up to and including US$2,000,000.00, plus; 12% of gross revenues achieved over US$2,000,000.00.
Rent for the Food Hall and Pop-Up Food Program Lease shall be the higher of the MAG or the sum of the percentage rent structured as follow: 8% of gross revenues achieved up to and including US$2,000,000.00, plus, 10% of gross revenues achieved from US$2,000,000.01 up to and including US$2,500,000.00, plus, 12% of gross revenues achieved over US$2,500,000.00.
All leases shall have a term of 12 years with one two-year option to extend at the Airport Commission’s discretion.
Informational conferences will be held Thursday, October 3, 2019, 10:00am, at SFO Aviation Museum and Library.
Small, local and disadvantaged businesses are encouraged to participate.
See http://www.flysfo.com/business-at-sfo/current-oppo... for information or call Tomasi Toki, Principal Property Manager, Revenue Development and Management Department, at (650) 821-4500.
