After a contentious 2016, it seems that things are still all systems go at Gladstone’s near Malibu. The almost 50-year-old waterfront property was originally told by the County of Los Angeles that its days were likely numbered, owing to declining sales and some much-needed repairs. At least for now, that’s no longer happening.
Reached for comment, a spokesperson for the County of Los Angeles says that Gladstone’s has been re-upped as a tenant while the search for a new leasee continues. Requests for proposals were open through this past September, and now the county is sorting through the names to find a winner. The spokesperson declined to say who had submitted, or even the number of proposals they received.
In the meantime, Gladstone’s is still up and running, well past their previous October 2017 closure date. In fact, the Department of Beaches and Harbors has given Gladstone’s a new 2-5 year lease while they sort through the application list and devise plans for moving forward. It is possible that pile also contains plans from Gladstone’s themselves, meaning those necessary updates could get pushed through and the property could be extended for another long-term lease.
Whoever wins the right to plunk down a property at the tony Will Rogers State Beach is likely to make some serious cash, though revenues have been declining at the aging Gladstone’s property over the years. The restaurant reportedly brought in over $7.7 million last year alone, down from $9.8 million in 2013/14.