Peak Point, a Taiwanese restaurant on Telegraph Avenue, is scheduled to close at the end of this month.
After two years of operation in Berkeley, the self-described “mini hot pot” restaurant with a once-vibrant customer base will be moving to Los Angeles.
Carol Wang, Peak Point employee, said she has a job until the end of February.
“The owner wants to move,” Wang said. “But I’m not sure why.”
Tea Time bought the space at 2502 Telegraph Ave. and is expected to open in March.
Chris Nunan, store manager of Upper Playground, which is across the street from Peak Point, said businesses on Telegraph Avenue have experienced high turnover. Aspiring businesses in the area have the perception that they will flourish because of college students, according to Nunan.
“That’s false. Tuition price goes up, (so) college students have less money to spend. I was in college too — I was broke,” Nunan said.
Nunan suggested that the restaurant’s distance from campus interfered with business and said college students do not want to walk three to four blocks for food. Nunan added that increasing rents and low foot traffic also impede business.
Neighboring business owners also acknowledged the limited foot traffic because of their distance from campus.
“Some places do well. Many have failed,” said Owen Hill, a Moe’s Books employee and longtime Berkeley resident. Hill said he hopes for more businesses that will bring foot traffic farther down Telegraph Avenue.
“(Good destinations) lead foot traffic past our door,” Hill said. “Good places help everyone.”