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Committee approves new Terminal 3 newsstand lease, budget analyst cites lower MAG than existing tenant
Summary
The Budget and Finance Committee recommended approval of a competitive seven-year lease for a new Terminal 3 newsstand; staff said the selected proposer offers a minimum annual guarantee lower than an existing comparable tenant but that the RFP process weights local participation and other qualifications.
The Budget and Finance Committee recommended approval of a seven-year lease for a new newsstand in Terminal 3, after airport staff and the city budget analyst described a competitive RFP process and projected rent.
Kathy Weidner of San Francisco Airport said Paradis SFO LLC was selected as the highest-ranked responsive proposer for a roughly 1,062-square-foot retail space in Terminal 3…
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