PGIM serves eviction notice on rent-paying SF restaurateur

Landlord cites sales below threshold as it aims to redevelop Financial District mall

Insurance giant Prudential is looking to evict one of the few remaining tenants at the Crocker Galleria in San Francisco’s Financial District, pegging the move on low sales rather than missed rent.

The insurer’s PGIM Real Estate unit, working through an entity registered as Post-Montgomery Associates, gave notice to Julie and Jisoo Yoo, who have operated the 2,000-square-foot Julie’s Kitchen buffet-style eatery for about 10 years, according to the San Francisco Chronicle.

“Despite the challenges of the pandemic, we’ve faithfully paid our rent and maintenance fees in full and on time, even during the state and local mandates against buffet-style restaurants,” a letter photographed by the Chronicle at the restaurant states. “Thanks to your unwavering support, our business has rebounded close to pre-pandemic levels.”

The landlord claims that Julie’s Kitchen has a minimum for annual revenue that’s now set at $500,000 under terms of a lease set to expire next year, when the tenants would have an option for a five-year renewal.

The Yoos said sales have taken steady hits since the pandemic, dropping below the $500,000 threshold and below $200,000 so far this year.