Building 156A Air Cargo Term Lease

Item No. 8d supp

Meeting Date: October 14, 2025

Actions Requested

Request Commission authorization for the Executive Director to execute an

Airport Term Lease Agreement with Amazon.com Services, LLC. (Amazon) for

cargo building and related facilities at Seattle-Tacoma International Airport

(Airport). The proposed lease term is for ten (10) years.

Lease Overview

• Amazon has operated a portion of their air cargo operations

through their contractor (WFS-Express) within Building 156A

since 2021

• The Port has negotiated a direct lease with Amazon where

Amazon would take over the entirety of Building 156A and

associated yard/parking areas

• This lease will allow Amazon to consolidate their air cargo

operations from multiple SEA buildings into one, which aligns

with the Port’s broader space management plans.

• Over the 10-year term of this lease, the Port would collect

approximately $18,008,551 in rent revenue

Term Lease Details

Building 156A Term Lease Terms

Amazon.com Services LLCTenant Name

10 yearsTerm

Amazon will have a termination option at month 66 of the leaseTermination Option

$143,418.39 for the first yearMonthly Base Rent

Monthly Base Rent will increase 3% annually. At year 5 of the lease, Base Rent will

increase based on a Fair Market Rent Appraisal

Rental Rate Adjustments

Amazon shall use the Premises for aircraft cargo processing, ground

support/maintenance and related handling services performed by Amazon and its

affiliates, cargo handling, ground handling, equipment maintenance and general

offices in support of Amazon’s operations.

Permitted Use

6 months’ base rentSecurity Requirement

General Liability Coverage: $5 million per occurrence

Auto Liability Coverage: $5 million per occurrence for vehicles on AOA, $1 million

per occurrence for vehicles off of AOA

Insurance Requirement