TMC Success Story – Sam’s Anchor Café
Sam’s Anchor Café; Tiburon, California; Brian Wilson, Co-owner; Stephen Sears, Co-owner
• SBA 504 Financing
• Total Project Cost: $7,440,000 (Including Tenant Improvements)
• Jobs Retained and Created: 27
• TMC Lending Partner: Presidio Bank
Everyone in the San Francisco Bay Area knows Sam’s Anchor Café. The iconic landmark is one of only a handful of restaurants accessible by boat with a large, sunny deck that offers unobstructed views of Angel Island, Alcatraz and the San Francisco skyline.
Sam’s has been a popular destination point since the days of Prohibition, when, rumor has it, founder Sam Vella operated a still down in the harbor. Today, Sam’s is owned and operated by Brian Wilson and Steve Sears, who are only the third owners in the restaurant’s 92-year history.
When Wilson and Sears had an opportunity to purchase the property, which includes the restaurant, leased retail space, two floating docks and anchor piers, they turned to TMC for assistance.
“TMC’s David Griffis made it easy, and it was a fairly complicated situation,” says Wilson. “Throughout the process, we felt we were working with partners who actually cared about us and our business.”
“As owners, our fate is in our own hands,” says Wilson. “Our customers and employees know Sam’s will be there for the long run.”
As part of the tenant improvements financed with the SBA loan, Wilson and Sears had solar panels installed.
“Restaurants are heavily dependent on electricity because of the need for refrigeration,” explains Wilson. “We’ve been able to cut our electric bill by two-thirds, and the panels will pay for themselves within two years.”
Read more about going green here.