The original Gladstones was opened by Robert J. Morris on the site of the former Ted's Grill in Santa Monica Canyon in 1972[1] and then moved to its home on the beach at 17300 Pacific Coast Highway in 1981.

[4] In 2009, the private company SBE assumed day-to-day operations as part of a management contract with Riordan which expired in 2014.

[8] In 2018, Los Angeles County awarded the 40-year lease to new owners PCH Beach Associates LLC, while Riordan remained as the restaurant's concessionaire operator.

The new owners announced plans to demolish the existing restaurant and replace it with a new venue designed by Frank Gehry and operated by Wolfgang Puck.

[8] However, the County Board of Supervisors found that the property's permits were not in place, and that the venue could remain vacant for two years or longer.