HONOLULU -- Aloha Petroleum Ltd. sought to clear up any possible confusion regarding the news of the recent sale of 11 commercial properties in Honolulu on which Aloha Petroleum operates gas stations pursuant to long-term leases.
Aloha Petroleum has received numerous inquiries from people who misunderstood newspaper reports, thinking Aloha Petroleum has sold or otherwise given up its interest in its stations at these locations.
This is incorrect, the company said. Aloha Petroleum's leases simply transferred from one landlord to [image-nocss] a new landlord, Getty Realty Corp., and Aloha Petroleum will continue its station operations at those locations.
There is absolutely no impact on Aloha Petroleum from this transaction, except that we will now send our rent payments to a new landlord. Aloha Petroleum plans to operate our gas stations on the 11 properties for many years, said Aloha Petroleum president Bob Maynard.
Honolulu-based Aloha Petroleum's operations at the 11 locations date back to September 2005, when the company acquired the former Mahalo stations from Trustreet Properties. In the recently reported transaction, Trustreet Properties' successor sold the fee-simple interest in those properties to Getty Realty, subject to the long-term lease to Aloha Petroleum.
Aloha Petroleum's history in Hawaii dates back to the early 1900s. Today, Aloha employs approximately 300 Hawaii residents, and operates nearly 80 fueling locations on Oahu and the Big Island of Hawaii. In addition to its retail fuel network, Aloha provides fuel and lubricants to hundreds of commercial and government customers. Its operations are supported by a large fleet of delivery vehicles and two fuel storage terminals in Campbell Industrial Park on Oahu and in Hilo on the Big Island.
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