Locally based Pacific Coast Restaurants Inc. has signed a 15-year lease for 6,800 sf that will house its Stanford's Restaurant & Bar chain. It will be located at the south end of the terminal in a new concessions space developed during the third phase of the south terminal expansion project.
The upscale-casual restaurant features wood-fire grilled specialties. Its opening is scheduled for December. Rent will be 8% of gross receipts during the first two years and, in years three through 15, the greater of 80% of the second year's rent or 8% of gross receipts. Pacific Coast Restaurants will be responsible for tenant improvements.
In the other lease, locally based Sandoval's Restaurant Inc. committed to 5.3 years in a 634-sf space for his third Sandoval's Mexican Grill eatery in the region. Featuring fresh grilled ingredients and a traditional Mexican menu, the restaurant replaces Macheezmo Mouse in the Oregon Market Food Court. An opening is scheduled for April 1.
Sandoval's rent will be 12% of gross sales in year one and, thereafter, the greater of 80% of the first year's rent or 12% of gross sales. Sandoval's is responsible for its own tenant improvements.
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