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Port lease with Everett and Jones for 300 Jefferson approved by committee
Summary
The Budget and Finance Committee voted to forward a Port Commission lease for Everett and Jones Barbecue SF International LLC to the full board. The lease covers roughly 4,400 square feet at 300 Jefferson Street for a 10‑year term with two 5‑year options; tenant allowances and percentage rent provisions were included.
The Budget and Finance Committee on March 26 voted to forward to the Board of Supervisors a resolution approving a Port Commission lease with Everett and Jones Barbecue SF International LLC for a restaurant space at 300 Jefferson Street in Fisherman’s Wharf.
Scott Lancel, Deputy Director of Real Estate at the Port, said the 4,400‑square‑foot two‑story restaurant would be leased for a 10‑year term with two five‑year options to renew. Lease terms include a free rent period (the lesser of 180 days or the opening date), percentage rent equal to 5 percent of gross revenues in the first year (floor $10,000 per month), escalating base minimums in subsequent years with 3 percent annual increases thereafter, and a tenant improvement allowance of roughly $800,000 to meet code and equipment needs.
Lancel said Everett and Jones, an Oakland‑based operator with long family roots, was selected through a competitive brokered leasing process and the port included a mutual termination clause to provide flexibility if the lease does not perform. Family members representing Everett and Jones addressed the committee and thanked the port and city for the opportunity.
Supervisor Chan and Vice Chair Matt Dorsey praised the leasing strategy and said the agreement is a step toward restoring commercial activity in the Wharf. The committee forwarded the resolution to the full board with a positive recommendation; roll call recorded Dorsey, Engadio, and Chan voting aye.
