Manu and Anita Melwani have completed a $6 million acquisition of three commercial buildings on Marine Corps Drive in Upper Tumon.
Improvements to the buildings are on the way. Construction begins in January 2006 on the Star Building. The Melwanis closed the purchase agreement on April 22 with former owner Yong Abraham for Eva 1 and 2 and the Star commercial buildings. The buildings are 100% occupied commercial properties.
Manu P. Melwani said “This is one of the best deals on Guam. The best strip mall with the largest amount of parking and finding pearls like these with large parking space is not easy.”
Anita said the property was already very well maintained and they plan to make improvements to the structures “curb appeal.” Consisting of about 35 000 square feet combined Eva 1 and 2 interior tiling will be changed and a new coat of paint will be applied to help enhance the properties.
“It’s one of the few prime properties in upper Tumon that has Marine Drive frontage ” she said.
An architectural company is designing a new addition and renovation upgrade to the Star Commercial Building. The project will be the new location of Sherwin Williams Paint also owned by the Melwani’s. President of RIM Architects Eric R. Nelson said a second-floor addition will be constructed and will house approximately 18 650 square feet of new office lease area. Construction is scheduled to be complete in September 2006.
The architectural design completely transforms the building to accomplish a new updated contemporary look.
Nelson said “A new curved entrance structure will be constructed of glass and concrete giving the complex a strong sense of entry. This entry will house the elevator core for vertical circulation. The new second-story office lease spaces will be provided with large windows each with spectacular views of Tumon Bay.”
Nelson said the resulting building will offer a bold new architectural look and an impressive functional facility for retail and office tenants.
The Melwani’s have been in business on Guam since 1989 with the opening of Pacific American Title Insurance & Escrow Co. in Maite. The Melwanis’ business holdings include Safety 1st and Rainbow Paint Supply both located in the Harmon Industrial Park; Sherwin Williams Paint and Frazee Paint & Wall Coverings both located along Marine Corps Drive in Tamuning; and they are part owners of United Pacific Collection Agency in Upper Tumon.MBJ