The Fish Market to remain in Palo Alto despite sale of property to developer
The restaurant says it intends to stay the course of its lease at its El Camino Real location, sold this week to a Bay Area developer.
The Fish Market has no plans to depart from its Palo Alto location on El Camino Real, the company confirmed in the wake of the property’s recent sale to the Bay Area developer Acclaim Companies.
“I do not anticipate there being any change in our operations for the foreseeable future,” President Dwight Colton said. “Our lease goes on for several more years. It’s been in place prior to the sale, and we expect that it will continue, and that we’ll operate in Palo Alto as long as we can.”
The Fish Market recently reopened its Palo Alto location to the public after a temporary, four-month-long closure. The restaurant made the decision to shut its doors ahead of the second wave of pandemic-prompted shutdowns amid the winter spike in coronavirus cases at the end of 2020; it is currently operating Wednesday through Sunday, Colton said.
“We made a good size investment in reopening the Palo Alto restaurant, and our intention is to get a return on that investment,” he said. The Fish Market has yet to speak directly with Acclaim Companies, Colton said, but expects to do so soon.
The property leased by The Fish Market’s San Mateo location was also recently sold; upon hearing news of that sale, customers “assumed we were going out of business immediately,” Colton said. “That was certainly not the case” in San Mateo, nor is it in Palo Alto, he added. In light of the sale of the El Camino Real property, which was first reported by the Mercury News, The Fish Market has received inquiries from customers and team members alike about the status of the restaurant.
“My belief, having talked extensively with our former landlords up until a few days ago, is they wanted (our lease) to continue on under the new ownership as well,” Colton said. “We can assure the public there’s no risk of The Fish Market Palo Alto, or any other location, going away any time soon.”
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