When the Port of Seattle inked a 10-year lease with Washington D.C.-based Anton Airfood in January for development of a new restaurant in the Central Terminal, the plan was to license and open a McCormick & Schmick's restaurant. Without explanation, Port officials said late last week that Anton would instead license an Anthony's Restaurant.
Seattle-based Anthony's operates 18 restaurants in the Puget Sound area. Portland-based McCormick and Schmick Management Group operates a few dozen restaurants nationwide, with the greatest concentration in Oregon and Washington.
The owners of Anthony's were actually one of two competitors vying with Anton for the right to open an anchor restaurant in the Central Terminal. Neither Bill Anton nor Lane Hoss of Anthony's returned phone calls seeking comment. The owners of McCormick & Schmick's could not immediately be reached for comment Friday afternoon.
Pacific Marketplace will be in Sea-Tac's renovated central terminal area. The market is to open in early 2005.
Anton's lease agreement calls tenant improvements of $2.2 million and rent equal to 8% of gross sales. The minimum annual guarantee for the first year is $100,000. After that, the minimum annual guarantee is 85% of the previous year.
The 10-year-lease agreement includes two five-year extensions and a "relief for exceptional circumstances" clause that would reduce the minimum annual guarantee by a percentage equal to the drop in the number of planes flying into the airport in the event of something akin to the Sept. 11, 2001. The agreement also requires "street pricing," which means patrons will not spend more than they would if they went to an Anthony's outside the airport.
Anton currently operates 104 restaurants in 15 airports nationwide. In February, Anton inked a 15-year, 6,600-sf lease deal with the Port of Portland to open a McCormick & Schmick's at Portland International Airport this November. According to the agreement, Anton will spend upwards of $2 million on tenant improvements and pay rent equal to 8% of the restaurant's annual gross sales.
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