San Francisco International Airport (SFO) has launched a request for proposals (RFP) for a trio of retail concessions at the Terminal 3 Boarding Area F.

All the leases carry a term of seven years with a two-year extension option and feature news and convenience, beauty, fashion, confectionery and speciality retail opportunities over a total area of approximately 2,936sq ft.

The airport will begin accepting proposals from 23 January, with a submission deadline set at 30 January. The estimated concession award date is March.

MAG/RENT OFFERS

Lease one includes lots for a newstand (1,130sq ft), beauty speciality store (1,062sq ft) and gourmet market (774sq ft) at three locations; lease two is for a sunglasses speciality retail unit (313sq ft); and lease three features one space (947sq ft) for either a sports apparel or candy speciality shop.

The minimum acceptable financial offer for the leases is as follows: Lease one, $1,100,000; Lease two, $145,000; and Lease three, $150,000, with annual rent the higher of either the MAG or percentage rent levels.

Percentage rent is broken down as follows: Lease one, 10% of gross revenues up to and including $500,000 plus 12% of gross revenues from $500,000.01 up to and including $1,000,000 and 14% of gross revenues over $1,000,000.

Source: SFO. Click to enlarge.

TERMINAL 2 OPPORTUNITY

Leases two and three are calculated as follows: 12% of gross revenues up to and including $500,000 plus 14% of gross revenues achieved from $500,000.01 up to and including $1,000,000 and 16% of gross revenues on income over $1,000,000.

Proposers for all leases must have a minimum three years’ experience in the past five in owning or managing the proposed concept(s).

Concepts, qualification criteria and questions will be addressed at an information conference due on 15 November at 10:00am (local time).

Separately, SFO has issued another RFP for vendors interested in operating a single speciality retail lease at Terminal 2.

The unit spans approximately 765sq ft and is located at the Boarding Area D in Terminal 2

The submission entry, deadline and estimated award date is as above.

Click here for further information on the T3 RFP.

Click here for further information on the T2 RFP.