Art Machado and Dan Sylva, owners of the Kailua bowling alley Pali Lanes, issued a statement on the recent lease agreement reached with Alexander & Baldwin, the real estate company that owns the property.
The statement is as follows:
“Alexander & Baldwin recently offered Pali Lanes what the local news media have termed a lease ‘extension.’ Technically that’s true but A&B’s offered extension is only a month-to-month lease to replace the current annual lease.
Even so, Pali Lanes remains committed to its stated future Plans for the property. We recognize the win/win character of this plan allows A&B several methods to improve its own bottom line, not the least of which by increasing its lease incomes due to additional leasable office spaces.
As A&B begins to appreciate how this Plan thus serves its own needs, aligns them with Kailua’s stated desire to maintain the Lanes, and allows them to honor the act and spirit of the State’s Historic Places Designation, the Lanes anticipates A&B will in time grant the required long term lease, allowing them to lock-in these business advantages.
Meanwhile, the Lanes continues to fine-tune its building plans, to write its business plan, and to recruit the local expertise needed to move ahead.
Pali Lanes also wants to express its deep gratitude to the windward community for its continuing support.”