Lower Rental Rates Sought at John Wayne Airport
Commercial airlines operating out of John Wayne Airport may soon be paying lower terminal rents.
In a request submitted to the Orange County Board of Supervisors, airport Director O.B. Schooley has asked that rental rates for some portions of the terminal be reduced as much as 13.2% to reflect greater operating efficiencies at the airport, as well as savings from the early retirement of $3.8 million in debt.
“We’re passing cost savings along to the tenants,” said John Wayne spokeswoman Pat Ware.
Airport officials have proposed reducing rents on the passenger areas surrounding the gates by 13.2% to $95.30 per square foot from $109.77 per square foot. Rents for the concourse, security and public baggage claim areas would decline 9.4% to $57.11 per square foot, while rents for the interior baggage handling areas would drop 8.3% to $55.22 per square foot.
The lower rental rates, if approved by supervisors at their meeting Tuesday, would be retroactive to Monday.
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