Airport Concession Leases

Location, location, location; the golden rule of real estate. If you were to ask any owner of real estate what the driving force behind the value of their property is, they would likely answer the location. Leasing space is no different. A business, especially a business that sells goods and foods, can either succeed or fail solely based on the location of the business; put simply, if a restaurant opens in a quiet or dangerous part of town, the chances of that restaurant succeeding are very low. Concession stands are a prime example; a concession stand in Times Square will have a lot of foot traffic and will probably succeed – so long as the rent is not astronomical – while a concession stand in the heart of Midwood would likely not. A unique location for concession stands is an airport. While it is undeniable that there is a tremendous amount of foot traffic in airports, leasing a space in an airport can be complicated, and is often highly regulated.