With plans to expand and improve San Francisco’s Ferry Terminal in the works and Sinbad’s days numbered, a number of readers have wondered what’s to happen to One Ferry Plaza, the 18,300 square foot waterfront building behind the Ferry Building. We now have the answer.
According to the Business Times, the Tom family which is a little more than halfway through their 66-year master lease for the former World Trade Club building has engaged Kidder Mathews to market the property, seeking to attract “a major international restaurateur that could do north of $20 million in annual sales.”
One Ferry Plaza is currently subleased to a Thai restaurant on a month-to-month basis.
This property seems to be a white elephant unable to attract a worthy tenant. The Ferry Bldg. has proposed an outdoor venue on the present parking lot. It would be nice if this property could be incorporated into their plan.
I’ve been inside, back when it was the World Trade Club. Place is a dump, and the architecture gives one a vaguely uncomfortable feeling. Was it built in the 60s or 70s, anyone know?
Anyway, if it can’t attract better than an unknown Thai restaurant in its current state, then how about someone buys out the Tom family, tears it down, and puts something nice there on the waterfront?
Oh, I know why. This is San Francisco.
World Trade Club opened in 1957.
Could not find the age of the building, though.
The WT Club opened in 1957 *inside* the Ferry Building. It was pushed out to this location in 2000 when the Ferry Bldg renovated. This building was built in the early 70s along with the transbay tube, which runs directly underneath. I can only hope the new tenants can do something to renovate the building, as much as it is possible to redeem a concrete box.
With the Ferry Building Market bustling, you think the merchants could have a better use of the neglected space.
The Toms and Kidder best do some restaurant research. Insiders tell me that there isn’t a restaurant in this City that does $20m+. Scoma’s and Slanted Door probably are the two biggest grossers and do nothing like that.
This used to be Gabbiano’s back in the 1990s before the WTC moved in. More recently, it was Carnelian by the Bay for a while run by some veterans from the Carnelian Room.
Tricky location in spite of the views. On most days, the Ferry Plaza looks like a deserted parking lot (as in the picture), so there is not much to encourage foot traffic. And on Saturday mornings when the Plaza is crowded, they have competition from gazillions of Farmers Market food vendors who are the real reason the Plaza is bustling. North of $20 million in annual sales sounds extremely optimistic and would set new records for San Francisco. But this place needs a killer concept or it will likely plod along as an event space.
Even Sinbad’s, which is much closer to the Embarcadero, usually seems pretty empty except for a few addled tourists and some commuters having after-work drinks while waiting for the ferry.
The Slanted Door recorded $15.9 million in sales and 350,000 meals served; that’s more than 950 meals a day. And while most other restaurant revenues have declined, theirs went up slightly from 2008.
Scoma’s on Fisherman’s Wharf holds the 30th ranking with sales of about $14.5 million and 400,000 meals served. That’s followed by Boulevard, again nominated for a James Beard Best Restaurant award this year, with $12 million in sales and 123,500 covers. In 64th place is the Cliff House with $11.5 millon in sales and 325,000 meals served.
http://insidescoopsf.sfgate.com/blog/2010/04/01/the-top-grossing-restaurants-in-san-francisco/