San Diego Port Extends Dole Lease To 2036 At Marine Terminal

The San Diego Unified Port District unanimously approved a long-term lease extension Tuesday with Dole Fresh Fruit Co. at the 10th Avenue Marine Terminal, dismissing objections that the action needed more community consideration for alternate uses.

The 20.7-acre property on the northern section of the terminal, originally leased to Dole in 2002, will be available to the company until 2036 at a starting rental rate this year  plus fees of $1.8 million, down from $2 million last year. Dole said it requested the 10 percent reduction to offset higher trucking costs.

Other concessions to Dole include $7 million for new electrical power connections, in compliance with state clean-air standards, and up to $8.5 million toward new gantry cranes if Dole decides to switch to a new system of unloading.

One expert pointed out that the new lease amounts to just 5.4 cents per square foot per month, while a hotel lease could generate up to 100 times that income to the port.

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