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Restaurant Building SOLD – 2315 Clement Street, San Francisco

By in 2022 - Volume 24

JUST SOLD – Restaurant Building
2315 Clement Street
San Francisco

Andy Mirabell of Restaurant Realty sold 2315 Clement Street in San Francisco. 

A Family Legacy Passed On
by Andy Mirabell

Often brokers and agents are moving fast to sell as much as the can. With the speed of our industry and tasks on hand, it isn’t surprising that we can sometimes overlook or miss the storyline of each transaction. Given Restaurant Realty Company’s agents are, or have been restaurateurs, we tend to relish and enjoy our client’s history and experiences, as we have walked in their shoes.

In my case, I love meeting all the wonderful restaurant and bar owners that I get to engage with. As I entered my fourth year working with Restaurant Realty, I have seen the variety of businesses I get the opportunity to sell expand within our niche of Commercial Real Estate. Furthermore, I am now getting opportunities to sell the building, as well as the business.

I sold my first building, located at 2315 Clement Street in San Francisco, on December 2, 2022, for $950,000. This 827sf single-story building, built in 1913, has been the home of Bill’s Place for over 60 years. Although the building is somewhat nondescript as SF homes and buildings go, it houses a large story within.

The Miguel Family Trust, who owned Bill’s Place long ago and stilled owns the building, had finally decided it was time to sell the property. The Miguel family are true San Franciscans. They have been imbedded in the community, politics and deeply rooted in the Richmond District of SF since the early/mid 1900s. They have had multiple tenants over the years that operated Bill’s Place which has always been a classic burger joint. However, in 2016, the current owner of Bill’s Place sold the business to first generation immigrants from Palestine.

Rania Alhindi, and her husband Omar Jarrar moved their family to the Bay Area with the dream of owning their own business, and they couldn’t have picked a more classic piece of Americana with Bill’s Place. Since 2016, Rania and her two sons, Reda and Wally have successfully run this restaurant making many improvements and growing its profitability. When the Miguel family decided to list the building for sale, with me as their agent, the hope was that Rania and family would be able to purchase it at some point. Rania,is a strong and hardworking matriarch, and she was poised to get this deal done at all costs, as to further their family’s legacy in San Francisco.

I immediately reached out to my trusted SBA lender, Scott Cisneros, of City National Bank. With Scott’s ingenuity and Rania’s commitment, we were able to get her family approved for an SBA funded loan to buy this building. I, Scott, Rania, The Miguel Family Trust and Old Republic Title, worked through Fall 2022 to get this deal done.

The Sellers could not be happier that Rania and family are the new owners of the building. Very few families can say they own a building in San Francisco given the cost of real estate and cost of living here. Now this devoted, and hardworking family can plan on growing their roots here for generations to come.

The buyers of the building are the tenants of the building that operate Bill’s Place and they will continue to operate the business as Bill’s Place.

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