Oceanfront Concession Lease at Avon-by-the-Sea

The Borough of Avon-by-the-Sea is soliciting bids for a concession lease at its oceanfront location, specifically the property situated at 600 Ocean Avenue, between Woodland and Norwood Avenues. This opportunity involves leasing the existing structure and adjacent deck area for operation as a full-service restaurant, a walk-up takeout food concession, and a retail boutique, all subject to Borough approval. The lease term is for an initial five years, from January 1, 2023, to December 31, 2027, with a potential for one additional five-year extension based on performance review. The minimum acceptable bid for the annual lease year is set at $60,000.00, with a five percent yearly increase commencing from the second through the fifth year of the initial term, pending extension approval. Prospective contractors must demonstrate a minimum of five years' experience in operating a restaurant or food service business to qualify. All bidders are required to submit a deposit of Ten Thousand Dollars ($10,000.00) via certified or bank check or cash to the Borough Clerk by November 10, 2022, at 4:00 p.m. Additionally, bidders must provide proof of sufficient unencumbered funds or assets, such as a line of credit or real property equity, totaling an aggregate amount of $200,000.00. The leasable premises can be viewed by appointment with the Borough Administrator, and it is mandatory for all bidders to review the non-negotiable form of Lease Agreement available at the Municipal Clerk's office prior to submitting a bid. The public bidding auction for this lease will be held on November 16, 2022, at 5:00 p.m. at the Marina Building located at 2 Main Street in Avon-by-the-Sea. The deposit submitted by unsuccessful bidders will be returned within thirty days of the bid award. The successful bidder must execute the lease agreement within five business days of acceptance by the Board of Commissioners and pay the balance of the first year's lease price (bid amount less deposit) at that time. A performance bond equivalent to five times the annual rent is required at lease execution, along with comprehensive general liability insurance in the amount of $5,000,000.00, naming the Borough as an additional insured. Contact for viewing appointments is the Borough Administrator at 732-502-4510. UNLOCK