The Journal has learned there are three interested buyers for the Guam Premier Outlets "" Hawaii-based real estate companies the Dowling Co. and A&B Properties Inc. and a local business.

Everett Dowling told the Journal via long distance phone call from Hawaii that the Dowling Co. has looked at several properties on Guam but is not interested in the Guam Premier Outlets.

Richard B. Stack Jr. vice president of development for A&B Properties Inc. told the Journal that because of A&B’s policies he could neither confirm nor deny any interest in GPO. He could not talk about any transactions until it was complete. Stack did say "We are looking at a number of properties on Guam." He would not however say if GPO was one of the properties Alexander & Baldwin was considering.

In an earlier interview with the Journal Monte M. Mesa president of GPO said that GPO received numerous offers from groups interested in the property because of the value. "Servco Pacific [the owner of GPO] is in discussion with any potential buyer or purchaser that may be interested in the Guam Premier Outlets (See "Premier property and retail facility taking serious inquiries" in the Nov. 13 edition of the Journal.)."

Mesa would not say which companies had submitted serious inquiries.

W. Nicholas Captain president of the Captain Co. said GPO "Is probably one of the best managed commercial facility on Guam. You’ve got a combination of sophisticated ownership and professional management that has resulted in very high retail sales volume and a quality tenant mix."

Captain said that from a mainland perspective "" mainland rates of return "" GPO would be able to drive a very high value because of the success of the property. He said that from the sale of GPO one could expect "At or above the high end of the range that hotels have been selling for."

GPO began development in phases in 1975. It is located on approximately 20.1 acres of land. It has 228 000 square feet of gross leasable floor area and additional pad sites. The GPO component of the property has 140 000 square feet of gross leasable area. It has an 11 000 square-foot food court and about 36 000 square feet of theater area. In 2005 the property was appraised for government tax purposes at $42.08 million. MBJ