Offer on the table to purchase Hilo Lanes

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Hilo Lanes, which has sat vacant since May 2014, could soon have a new owner.

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Hilo Lanes, which has sat vacant since May 2014, could soon have a new owner.

Lorraine Shin, a Hilo businesswoman, said Wednesday that she has made an offer to buy the building at 777 Kinoole St., and the deal is going through escrow.

“If it all goes smoothly, hopefully April or May of this year” the sale will be finalized, she said.

Shin, who owns rental properties, said she would like to save the building but added future uses are “up in the air” when asked if the property would be used again for a bowling alley.

“We’re still working with different people,” she said. “I cannot say right now who would be leasing the space.”

Shin said she is considering using the location for a mix of residential and commercial spaces.

She said the purchase would be done through M.S. Petroleum Corporation, which she owns.

The 3.7-acre property, which was used as a bowling alley since 1960, was listed for sale for $3.75 million.

The property is less than a block from Penn Training &Fitness Center, owned by her son, famous mixed martial arts fighter BJ Penn.

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M.S. Petroleum Corporation also is listed as the property owner for that site.

Email Tom Callis at tcallis@hawaiitribune-herald.com.

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