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 (MAG) of $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 the MAG of $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 the MAG of $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 the MAG of $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:
- When: Thursday, October 3, 2019
- Time: 10:00am
- Location: SFO Aviation Museum and Library