8n. Presentation

Mad Anthonys P66 Third Amendment to Lease

Item No.  8n _supp
Meeting Date: November 14, 2023
Mad Anthony’s Pier 66
Third Amendment to Lease

           Seattle waterfront construction
2019 - 2025





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         Anthony’s Pier 66 gross sales history
Seattle waterfront construction began in 2019, so the year 2018
is used as the baseline.
Year                                   % of 2018
2018                               100%
2019                               95%
2020                               20%
2021                               41%
2022                               62%


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               Key Amendment Terms
Original         First           Second          Third        After Third
Amendment   Amendment  Amendment  Amendment
Minimum Rent   $30,670/mo     None         None         None      $30,670/mo
Percentage Rent    6.00%        6.50%         6.50%         6.50%         6.25%
Rate
Effective period  Prior to First  June 1, 2020 –  June 1, 2022 –  May 1, 2023 –  Through lease
Amendment May 31, 2022  April 30, 2023  earlier of 2-   expiration of
way traffic on  December 31,
Alaskan Way   2041
or December
31, 2024

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