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Well-known San Pedro fish market indicators 49-year lease to remain in West Harbor

whysavetoday by whysavetoday
December 29, 2024
in Real Estate
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Well-known San Pedro fish market indicators 49-year lease to remain in West Harbor
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Homeowners of San Pedro Fish Market and Restaurant, a top-grossing restaurant that after sprawled throughout a picket pier within the Port of Los Angeles, have signed a 49-year lease to rebuild at their historic waterfront residence.

For many years the market was a part of Ports O’Name, a vacationer attraction that was razed in recent times to make approach for a regional attraction referred to as West Harbor that’s now beneath building.

The restaurant constructed a loyal following of consumers who spent about $30 million a 12 months earlier than the pandemic on its heaping trays of shrimp, lobster and different seafood shared at spare steel tables on the weathered pier.

Members of the Ungaro household, the restaurant’s homeowners, deliberate in 2021 to maneuver the operation to a different location within the port however have now dedicated to staying in West Harbor as an anchor tenant.

The restaurant will stand subsequent to the brand new growth’s amusement park, which can embrace a Ferris wheel that’s anticipated to be as a lot as 50% greater than the Pacific Wheel at Pacific Park amusement heart on the Santa Monica Pier.

San Pedro Fish Market at present is working with cellular kitchens in non permanent outside quarters within the parking zone subsequent to its former web site, the place it served 450,000 diners and grossed $16 million final 12 months, Chief Govt Mike Ungaro mentioned.

Earlier than transferring into its new digs, the restaurant will relocate to a different non permanent house on part of the West Harbor web site that’s supposed to ultimately maintain a resort. It’ll function there for about three years, serving as many as 1,600 folks at a time, whereas the market’s everlasting house is constructed.

Ultimately it is going to be one of many largest eating places in the US, Ungaro mentioned, spanning 55,000 sq. toes and able to serving 3,000 diners at a time — about the identical capability as its authentic location. Almost 90% of the eating house will probably be on an out of doors patio overlooking the waterfront.

Deliberate options embrace occasion areas, personal eating choices and areas for podcasters and different content material creators to conduct reside broadcasts, Ungaro mentioned. The market has appeared on lists of essentially the most Instagrammed eating places within the U.S., with posts sometimes displaying folks tucking into mammoth trays of seafood.

“They’re an establishment in San Pedro,” mentioned Eric Johnson, senior challenge government for the West Harbor growth. “It’s actually necessary that we’ve been capable of present them a long-term residence.”

Artist rendering of West Harbor's amusement park.

San Pedro Fish Market and Restaurant may have a long-term residence subsequent to the amusement park at West Harbor.

(Studio One Eleven)

The $155-million first section of West Harbor, which can embrace eating places, bars and outlets, is about to open late subsequent 12 months. Its builders introduced in October plans to expedite building of the following section, which requires the amusement park, extra meals tenants and an array of out of doors pickleball and padel courts. The everlasting residence for the fish market will probably be a part of the second section.

San Pedro Fish Market additionally introduced that it’ll open a 17,000-square-foot restaurant at Outdated Fisherman’s Wharf in Monterey in Northern California in 2026.

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Tags: 49yearFamousfishHarborleaseMarketPedroSanSignsStayWest
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