Details
Written by: RJ
Chase is opening another Sapphire Lounge, this time in Seattle-Tacoma International Airport. The new Sapphire lounge will be 16k square feet and be neighbors with the Delta Sky Club.
- 15-year lease term
- $500/SF per year
- 0% rent step in years 6 and 11
- Total tenant investment (Initial Capital Investment and Midterm
- Refurbishment): $70M
- Rent to the Port over the 15-year lease term: $135.6M
- No additional Port of Seattle investment
- 15-year NPV of over $36M with a four (4)-year payback period
First reported by VFTW
Thoughts
More options is always nice.
Advertiser Disclosure: Some of the card links and products that appear on this website are from companies which RJ Financial/Profitable Content may receive compensation when you click on links to those products.Terms apply to the offers listed on this page. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. See our Advertising Policy here.
Editorial Note:
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.