This document is a First Amendment to a Lease and Concession Agreement between the Port of Seattle and SP-LW, LLC, shifting the concessionaire's food and beverage operation from Unit CC-6 to Unit NS-23 in the North Satellite Terminal at Seattle-Tacoma International Airport. The amendment updates key lease terms, including an approximately 1,800-square-foot premises, a ten-year lease expiring December 31, 2031, and an initial minimum annual guarantee of $180,000. The Port also agreed to reimburse the concessionaire $360,095.72 for costs already incurred at the original unit.Open full document
Notes
This First Amendment modifies the original Lease and Concession Agreement between the Port of Seattle and SP-LW, LLC, substituting the original premises (Unit CC-6) with Unit NS-23 in the North Satellite Terminal due to utility limitations at the original location. The amendment updates key lease terms including premises size, occupancy date, rent structure, and improvement requirements for the Poppa Woody’s burger restaurant concession. The Port also agrees to reimburse the Concessionaire $360,095.72 for costs incurred related to Unit CC-6.