The Paradies Shops wins contract extension at Palm Beach

Nicole Mezzasalma

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The retailer will now operate stores at the airport until 2022

Retail operator The Paradies Shops will continue to operate shops at Palm Beach International airport until 2022. The board of county commissioners said that the company submitted the only “responsive, responsible proposal” in response to the request for proposals (RFP) issued by the airport on May 10. Paradies, which has operated stores at Palm Beach airport since 1987, offered a minimum annual guarantee (mag) of $1.35m and promised an initial capital investment of more than $4.5m.

The retailer also proposed to build four new concession locations at the airport in addition to proposing concepts for the existing locations. New concepts would include a FAO Schwarz/Beach Fun playground, two 10-Minute Manicure locations and a Tropical News kiosk. Paradies offered rent of 22% of gross annual receipts for the kiosk and a minimum percentage rent of 12% for the other three concessions. The agreement also provides for 25% participation by disadvantaged business enterprises.