Premier Commercial Development LLC to finalize purchase of GPO by end of 2025
BY MAUREEN N. MARATITA
Journal Staff
Premier Commercial Development LLC, a subsidiary of EC Development, is finalizing the purchase of Guam Premier Outlets.
Jennifer A. Calvo, CEO of EC Development, told the Journal, “We have the contract to purchase, and are working through the other details.”
Completion is imminent, she said. “We do intend to close this year.”
The seller is S199 SPE LLC, which acquired GPO in November 2012 from the Mills Group of Hawaii, according to Journal files.
S199 SPE has been managed by Chaney Brooks of Hawaii.
Guam Premier Outlets. Photo by Skyler Obispo
The purchase does not include Tumon Sands Plaza.
The Mills Group purchased GPO for $85 million from Servco Pacific, also headquartered in Hawaii, according to Journal files.
GPO — the region’s first outlet mall — opened in October 1997. The property had its beginnings as Gibson’s Department Store.
GPO is located on approximately 20.1 acres of land. It has 228,000 square feet of gross leasable floor area and addition 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. mbj
The Guam Legislature adjourned a special session on Wednesday, Sept. 10 without taking action on Gov. Lourdes A. Leon Guerrero’s compromise budget proposal, prompting sharp criticism from the administration and a clash among senators over funding for the Guam Memorial Hospital.
The Guam Economic Development Authority has launched the State Small Business Credit Initiative Surety Bond Assistance Program, in partnership with Moylan’s Insurance Underwriters, Inc.
Major military exercises are often assigned as bundled contracts for companies that put the necessary logistics together – to include accommodation and catering services.
Gov. Lourdes A. Leon Guerrero vetoed the nearly $1.4 billion fiscal year 2026 Government of Guam budget bill on Sept. 5, stating that the proposed measure underfunds the Guam Memorial Hospital and provides tax cuts to the “favored few.”
