BY JOY WHITE
Core Tech Development LLC has acquired the former Para Oceana Business Center in Dededo at the
intersection of Harmon Loop Road and Route 16. The company purchased the property from Para Oceana Ventures for about $6 million, Juno Eun, president and CEO of Core Tech Development, told the Journal.
The sale of the property was made official on July 12.
The building has been temporarily renamed the Core Tech Business Center, though Eun said a name-change may be in the future. The business plans to operate the property as is, a commercial building with leased units to businesses, but is renovating the building.
“We already started renovation and will install a new generator, do restroom upgrades, do exterior [renovations], [construct a] retaining wall [and other improvements],” Eun said.
The property comprises an 8,094-square-meter lot and about 33,000 square feet in retail space. Tenants of the building include Bank of Guam, Pacific Human Resource Services Inc., Garcia Optical, Angus Steakhouse and Watts Constructors LLC.
Core Tech Development is the real estate division of Core Tech International Corp. Its commercial properties include Core Tech Center on Route 1 in Tamuning, which houses its offices and those of its parent company. Core Tech’s residential properties include Summer Tower, formerly Emerald Oceanview; Summerville, Summer Sky Apartments, Summer Green and Summer Garden, all in Tamuning; and Summer Town Estates III and IV in Dededo. Mbj