The owner of Guido’s Italian Restaurant said he sent in an October rent check to his leaser, KRE Capital, in a last-minute bid to stay open.
Matt Khoury, who owns KRE Capital and the Malibu Village, said he did not know if the check was processed, but said he would not agree to a deal with Guido’s owner Antonio Castanos. Khoury has instead entered negotiations with a potential new tenant who he described as a Malibu local who would open another restaurant in Guido’s place.
“We’ve gone out and found someone else who we think is going to be a better tenant, a better operator and who’s going to be better-liked in the community,” Khoury said.
Technically, Castanos was supposed to vacate his space at the Malibu Village at the beginning of October. However, Castanos is keeping doors open until logistics such as the sale of the liquor license are resolved.
News of a possible new tenant taking Guido’s place comes on the heels of Point Pizza Malibu announcing it is closing its doors at the end of December after 26 years of business at Point Dume Village.
Point Pizza owner Hyesong Oh said she was unable to work out a lease agreement with Zan Marquis, the owner of Point Dume Village.
Marquis Property Company sent Oh an email last week letting her know she could not continue her lease past December.
“I couldn’t afford what he wanted,” Oh said. Oh said she would have been able to afford a proposed increase in rent, but Marquis made other requests during negotiations that Oh could not meet right away.
Charles Lee, Oh’s son-in-law who was involved in negotiations with Marquis, said Oh was asked to change her menu and serve organic food.
“We told them we could do all organic toppings. They wanted us to do all organic crust as well. We told them it was too expensive,” Lee said.
Oh eventually found an affordable organic pizza crust supplier and offered Marquis a counterproposal, but negotiations broke down between the two sides a few weeks ago.
“Everything that they wanted her to do, she agreed to most of it,” Lee said.
But Oh did not hear back from Marquis until receiving an email ending negotiations last week. Marquis is out of the country and could not be reached directly for comment.
The property manager for the shopping center said the pizza chain D’Amore’s Famous Pizza would open its second Malibu location—D’Amore’s Naturally—in Point Pizza’s space next year.
“It’s not that we’re kicking Point Pizza out,” property manager Kathryn Natalia told The Malibu Times. “They don’t have any further options to extend.”
D’Amore’s currently has one location on Pacific Coast Highway in Malibu. The second D’Amore’s will offer organic pizza, according to Natalia.
“They’ll have better pizza offered with all organic, all natural ingredients,” Natalia said.
Oh, who took over the business in 1989, said Point Pizza customers and community members in Point Dume have expressed their sadness and frustration over the loss.
“I’ve talked to customers and they are upset,” Oh said. “I’ve been serving them for 23 years. The decision’s already made and it’s very hard to say.”
Councilman Skylar Peak said that Point Pizza has provided more than food to Malibu since 1986.
“Point Pizza closing is a crusher,” Peak said. “That was a staple. Hyesong has been nothing but supportive of our youth in helping at the schools and providing them jobs.”
The Preserve Malibu group is trying to plan a community rally for Point Pizza similar to one held last year in an effort to save Trancas Canyon Nursery, according to Preserve Malibu member Carla McCloskey. The owners of the nursery ended up signing a five-year lease extension.
“I think it’s really sad if this continuously happens to all our small businesses,” McCloskey said. “We are definitely trying to raise the community’s consciousness, and we don’t have to try too hard because people are up in arms.”