GIA restaurant and car hire tenants see changes
Papa’s, a family restaurant and steakhouse near the A.B. Won Pat International Airport, Guam has decided to sublease the property to another restaurant.
The land the restaurant occupies is owned by the Guam International Airport Authority, and during an April 28 board meeting, the board unanimously voted to allow the sublease, subject to legal review.
Casey Castro, owner of Capitol Kitchen, will be taking over the space.
According to Journal files, Papa’s opened in December 2013, and is owned and operated by MITECO Pacific, which also operates Submarina and Marble Slab Creamery. The space is 8,000 square feet.
Capitol Kitchen currently operates at the Days Inn Guam. Capitol Kitchen started as a food booth at the 12th annual Festival of Pacific Arts, which was held on Guam from May 22 to June 4 in 2016. FestPac has been held every four years since 1972 as a cultural festival for people from different Pacific-island nations and territories.
The new Capitol Kitchen plans a café, banquet room and full-service bar in the space.
From a legal perspective, Papa’s will remain responsible, including making rent payment directly to the airport, with a monthly rent of $5,125.
Additionally, Premier Alliance Corp., which runs Avis Rent a Car, Budget Rent a Car, and Payless Rent a Car across six islands in Micronesia has been sold to Atkins Kroll Inc., as of April 27, which means the Avis and Budget sites at the airport will be operated by AK, on a month-to-month tenancy. Atkins Kroll Inc. will be subleasing the space from Premier, at a cost of $143,426 a year, or 10% of gross revenue, whichever is greater. Additional costs include $800 for the counter within the airport and $800 for all current stalls for cars.
In other airport news, business for May is expected to increase by 24%, with Air Busan and Air Seoul indicating flight resumption then.
“We see a positive effect coming through in the next few months,” said John “JQ” M. Quinata, the airport’s executive director.
He also said fiscal 2022 budget preparation is underway.
Two more big MACC orders
Gilbane SMCC ECC LLC was awarded April 29 CHamoru standard time a $62.87 million firm-fixed-price task order under a multiple award construction contract for “the construction of a Marine Expeditionary Brigade Enablers facility at Marine Corps Base Camp Blaz. The facility will have “administrative, supply, direct support and maintenance spaces to support the mission of the Third MEB.” Work is expected to be completed by September 2024 and is funded by fiscal 2022 military construction, (Navy) funds. Five proposals from MACC contractors were received for this task order, which was awarded by Naval Facilities Engineering Systems Command Pacific.
The same Gilbane JV was awarded a $40.36 million firm-fixed-price task order April 28 under the MACC contract for the construction of a two-story infantry battalion company headquarters at the Marine base. The work includes supporting facilities and utility infrastructure for the administrative functions of two infantry battalions and is expected to be completed by August 2024.
Five proposals were also received, and the award was also made by NAVFAC Pacific.
Cornerstone event shows potential of Guam for further development
Siska S. Hutapea, founder and president of Cornerstone Valuation Guam Inc., took to the stage at the Dusit Thani Guam Resort on April 29 on the 10th anniversary of the launch of Cornerstone with a wealth of information on real estate investment past, present and future – the theme of the packed morning event hosted by Cornerstone.
Hutapea – who also sits on the board of the Guam Economic Development Authority showed a decade’s worth of major commercial sales, of which she said, “During the last 10 years there have not been many.”
She was optimistic about the future of the hospitality sector, as well as the prospects for Guam’s diversification into other lucrative industries. “There’s new products in tourism,” she said. “I hope that will strengthen our tourism diversification.” As to diversification, she said, “It’s no secret Guam is very strategic as far as undersea cables.”
Hutapea also talked about training and development and Guam’s role as an education center for Micronesia. “If we don’t have the brainpower, we’re not going to be able to build that diversified economy, she said.
What Guam lacks is affordable housing – to which modular homes may provide a solution, Hutapea said. “The key is to make sure [they are] insurable,” she said.
After Hutapea spoke, two panels of experts took to the stage. David J. John, chairman of ASC Trust and chairman of the board of GEDA, addressed the ongoing issue of delayed permitting which holds up development at all levels, despite the appointment of Carl T.C. Gutierrez, president of the Guam Visitors Bureau as a “permitting czar.”
John said permitting needs constant attention. “It needs to be a fulltime job. It can’t be somebody who serves two masters.” He also talked of the possibility of permitting being managed in the private sector, even if there was a further charge. “I don’t think people would mind that.”
John would also like to see additional air line connections to additional Asian destinations, with potential for better connections to other destinations from Asia.
Ho Eun, chairman of Core Tech International, addressed why a venture such as Emerald Ocean View failed – allowing Core Tech to buy the property, which he said was due to the model of contractor guarantee.
“If you can hedge the construction risk, your project will be successful,” he said. Eun also discussed additional housing units in the area of Summer Towers, behind T Galleria in Tumon and the renovation of the Garden City Hotel. Eun plans additional Low Income Housing Tax Credit homes.
Due to federal funding, the Guam Department of Labor’s Dislocated Workers Program offers tailored training for career and job placement in business office automation, construction/heavy equipment, commercial truck and bus driver, construction craft laborer, medical billing and coding, certified nursing assistant, and communications technology tech, according to an April 29 release.
Eligibility requirements include that the applicant has been terminated or laid-off from prior employment; is 18 years or older; was self-employed, but is now unemployed as a result of general economic conditions; is a displaced homemaker; or is facing disrupted employment.
Contact the American Job Center at (671) 475-7000/7001 or [email protected] to schedule an appointment or register online at hireguam.com.
The board of directors of Matson Inc. announced April 29 a second quarter dividend of $0.30 per common share … will be paid on June 2 to all shareholders of record as of May 12.
The Consulate-General of Japan announced today that the Japanese government is offering the Research Students scholarship to qualified applicants who wish to study at Japanese universities under the Japanese Government Monbukagakusho [Ministry of Education, Culture, Sports, Science, and Technology Scholarship Program for 2023.
The Japanese government is also offering scholarships to qualified applicants for study at Japanese Universities as an Undergraduate Student.
For more information and an application form, please visit https://www.studyinjapan.go.jp/en/smap-stopj-applications-research.html.
For your diary:
Guam Unique Merchandise and Art, in partnership with CHamoru Village and Guam Green Growth, will be holding Trade Fairs on May 4, 11, and 18, from 5 p.m. to 9 p.m., in conjunction with CHamoru Village’s Wednesday Night Market. mbj