wigstheone
Feb 7, 02, 3:56 am
When the soaring new Terminal 4 opened last spring at Kennedy International Airport, the mantra of its operators was "passenger service" — a nod to the wide array of shops, restaurants and other services that would cater to a growing surge of air travelers.
They were so confident of that surge that rather than setting fixed rents in their leases with tenants, they took the unusual step of letting the rents float, based solely on the number of passengers passing through the terminal.
But what happens when the passengers don't show up?
That is the question now facing the operators — a consortium of the Dutch firm Schiphol, the Wall Street financial company Lehman Brothers and the real estate company LCOR Inc.
http://www.nytimes.com/2002/02/07/nyregion/07AIRP.html
They were so confident of that surge that rather than setting fixed rents in their leases with tenants, they took the unusual step of letting the rents float, based solely on the number of passengers passing through the terminal.
But what happens when the passengers don't show up?
That is the question now facing the operators — a consortium of the Dutch firm Schiphol, the Wall Street financial company Lehman Brothers and the real estate company LCOR Inc.
http://www.nytimes.com/2002/02/07/nyregion/07AIRP.html