Atlantic City tenders 3,097sq ft news, gifting and speciality retail lease

By Luke Barras-hill |

Atlantic-City-Airport

Atlantic City Airport handled 1,164,937 passengers last year. Source: SJTA.

The South Jersey Transportation Authority (SJTA) is requesting proposals from qualified parties to manage and operate a 10-year travel convenience and speciality retail & food concession at Atlantic City International Airport.

The successful bidder will be granted the non-exclusive right (with certain exceptions and privileges) to finance, design, construct, operate and manage at its expense four locations.

These are at Pre-Security/Ticketing (1,060sq ft), Post-Security-Concourse (480sq ft), Post Security-Concourse (1,457sq m), and Post Security-Concourse (100sq ft).

SCOPE FOR GROWTH

In addition, the concession offers scope for expansion and development with a 3,780sq ft unfurnished space situated between gates seven and 10 (the current F&B provider has right of first refusal).

The contract begins on 1 February 2020 and ends on 31 January 2030.

“SJTA desires to select a Concessionaire(s) that will provide the travelling passengers with a variety of services, top quality products and prompt, courteous in a clean environment,” read a statement.

A minimum capital investment of $700,000 is required to renovate the travel convenience and speciality retail and food concession locations.

YEAR-ONE MAG

The deadline to receive proposals is 17 October at 14:00pm, with the award of the concession anticipated to take place in November.

A minimum annual guarantee (MAG) of 10% in year one is asked for in submissions. SJTA says no proposer is mandated to make a deposit in excess of $20,000.

The MAG for year one is set at $200,000, with subsequent years at 85% of the previous year’s gross receipts.

MAG-Atlantic-City

Source: SJTA.

The successful proposer will pay the greater of a monthly prorated MAG or a percentage of the concessionaire’s monthly gross revenue.

Site visits must be requested and conducted before 30 September.

Atlantic City Airport is located 10 miles from downtown Atlantic City, a gaming and resort community that draws more than 24 million visitors per year.

The current airport terminal is approximately 185,000sq ft and handled 1.2m passengers in 2018.

Those wishing to make a site visit can contact the airport business manager at 609-573-4710.

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