The Real Deal Los Angeles

LA County will court tenants for Gladstones site after 20-year lease extension

The seafood restaurant's lease expires in October of next year

August 15, 2016 10:30AM

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Gladstones Malibu restaurant at 17300 Pacific Coast Highway

Gladstones Malibu restaurant at 17300 Pacific Coast Highway

L.A. County may be giving struggling seafood restaurant Gladstones Malibu the boot come October 2017.

The county board of supervisors voted last week to create a long-term lease for the Pacific Palisades beachside property, doubling the current limit to 40 years.

The extension of the lease is intended to set off a competitive bidding process, in which the California Department of Parks and Recreation would pick a tenant to redevelop the Will Rogers State Beach site.

“Because the existing facility is seriously deteriorated and outdated, the Department desires the successful bidder to construct an entirely new facility,” supervisor Sheila Kuehl wrote in a motion to the board on Tuesday.

Gladstones, a landmark seafood restaurant, has occupied the state-owned property since 1972. The eatery typically pays about $1.7 million in rent every year, but the county reduced the rate to $900,000 this year because of Gladstone’s “financial difficulties,” according to the motion. [LABJ]Cathaleen Chen