2022 Business of the Year - A&C Ventures
A&C Ventures (ACV) is a driving force behind Tiburon’s expansive downtown revitalization, drawing on decades as specialists in the acquisition, development, redevelopment, and management of single-tenant retail properties throughout the United States. Based in Sonoma, Ca, ACV opened a local Tiburon office in 2018, when they bought out their partner’s interest from a real estate deal that originally closed in December 2012 involving 35% of downtown’s mixed use commercial space. Since then, the ACV team has worked tirelessly to build a portfolio of tenants for several of the properties that either needed new tenants or were approaching lease maturities, investing upwards of $50 million in Tiburon and attracting a dynamic mix of new restaurants, entertainment venues and merchants to our community.
From the beginning, David Grieve, Chairman and CEO of ACV believed that the key to a successful downtown revitalization was a great restaurant, and the property that is now The Bungalow Kitchen by Michael Mina became the cornerstone of that strategy. Guaymas, the restaurant that originally occupied the space at Five Main Street, Grieve saw as an underutilized asset in a “perfect location,” so ACV eventually bought them out of their lease and began a search for the flagship partner that would set their strategic plan in motion. They talked to several restaurateurs but turned a corner when they met Brent Bolthouse while working on a project in Southern California. Brent, who now co-owns Bungalow Kitchen with famed chef, restaurateur and Marin resident, Michael Mina, already had two very successful restaurants of the same concept, and when ACV brought him and Michael together, the partnership potential was apparent to everyone.
After making a reported $12 million in tenant improvements, The Bungalow Kitchen by Michael Mina opened in November of 2021, giving pandemic-weary locals something to cheer about. The fully renovated restaurant has 12,000 square feet spread over two stories with open-air, bay-view dining for 300 plus a billiards room with private bar, fireplaces on each level, a DJ who spins until 2:00 AM on Fridays and Saturdays and a variety of spaces to accommodate private parties of various sizes. With late night ferry service to and from San Francisco, The Bungalow Kitchen has indeed become the cornerstone of Tiburon’s downtown transformation, serving as, in Mina’s words, “a vibrant community clubhouse.”
The Bungalow Kitchen has been transformative for downtown Tiburon since day one, but with its flagship success, ACV was just getting started. As a next step, they worked closely with the Servino family to take over the lease of their Main Street restaurant, Servino’s, and return to their origins on Ark Row, a move that the Servino family had desired for some time. They then partnered with Malibu Farm co-owners, Helene Henderson and John Stockwell (of original Top Gun fame!), to renovate that space for their hugely successful organic, farm-to-table venture that started as a stand on Malibu Pier and is now thriving in five locations (including Malibu; Pier 17, New York City; Tokyo, Japan; Lanai Island, Hawaii and Lido Island, Newport Beach). Malibu Farm Tiburon will make it six when renovations are completed and the much anticipated restaurant opens later this year. “Malibu Farm was a great fit for our vision of the property,” said Grieve. “There were so many similarities to the original restaurant in Malibu, and John and Helene recognized right away the opportunity to expand their concept to an idyllic waterfront property in Marin.”
There is so much on the near horizon in the ongoing transformation of downtown Tiburon, and ACV's unparalleled vision and commitment to this town has significantly contributed to the downtown revitalization and continued growth and livelihood of both our business and local communities. In addition to introducing The Bungalow Kitchen and Malibu Farm to Main Street, ACV has brought the other side of Main Street back to life with Squalo Vino Wine Bar, Caviar & Co., Perfect Provenance and the Tiburon Welcome Center. And later this month, Cinelounge Tiburon, Christian Meoli’s curated theatrical experience, is set to open in the fully renovated ACV property formerly known as the Tiburon Playhouse. This fall, Petite Left Bank (a brand new concept by Left Bank Brasserie) will round out the 2022 restaurant openings, with their first location in a brand new ACV building at the former New Morning Café location.
In addition, they are currently working on plans for the future development of Shark’s Deli and continue property management of Salt & Pepper, Caffe Acri, and Candy Store on Main. Despite the many pandemic-related challenges that have impacted the timing of development and business openings, Grieve continues to see so much development potential in Tiburon. “We remain steadfast in our long-term commitment to the revitalization of downtown Tiburon.” says Grieve. “And we demonstrate this commitment every day because ACV is not just a landlord but also an investor and owner of many of the businesses that already and will soon occupy these properties.”