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SFO seeks rent relief for struggling airport food vendors; committee forwards reset for 18 leases
Summary
San Francisco International Airport proposed a program to reset minimum annual guarantees for 18 food & beverage leases, lower percentage rent for seven pre‑security leases, and change the annual MAG adjustment methodology; the Budget & Finance Committee forwarded the resolution with a positive recommendation after BLA analysis of fiscal impact.
San Francisco International Airport told the Budget & Finance Committee on Jan. 7 it is seeking authority to implement a food‑and‑beverage rent relief program that would reset minimum annual guarantees (MAGs) for 18 of 69 airport leases, reduce percentage rent for seven pre‑security locations and change how MAGs are adjusted annually.
An unidentified airport representative said the package would support approximately 25 tenants and preserve locally owned concepts and employment at the airport. Under the proposal, post‑security MAGs would be set at 12%…
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