Following the announcement that it had purchased the Bank of Hawaii building in Hagåtña, Citadel Pacific Ltd. said it is enhancing another well-known property under its management - the Guam International Trade Center in Tamuning.
According to a statement from the company, work is underway to modernize the ITC building’s first-floor lobby with new flooring, upgraded elevators, LED lighting, renovated restrooms, an improved security booth, and digital directories and message boards.
Citadel Pacific Ltd. is a private holding company and parent company of IT&E, IP&E and Fujita Properties Inc. On Thursday, it announced it has purchased the Bank of Hawaii building on Soledad Avenue in Hagåtña.
The company will continue to lease office space in the bank building and plans to further improve the building.
The 62,000-square-foot Hagåtña property features quality office space, covered parking, and is highly visible from Marine Corps Drive
“The opportunity to acquire an exceptionally well-known building in the heart of Hagåtña is very exciting," said Jim Beighley, CEO of Citadel Pacific Islands. "The building is within walking distance of a range of restaurants, retail outlets, businesses, and popular historical sites, as well as being conveniently nearby the Supreme and District courts. This investment fits directly in our strategy as we expand our portfolio and explore the dynamic markets in the Pacific region.”
Citadel Pacific Ltd. has operations in the Philippines, Hong Kong, Macau, Palau, the CNMI and Guam. Its holdings range from controlling stakes in companies engaged in telecommunications, retail, renewable energy, petroleum and gas distribution, commercial, and industrial property, in-flight catering, and manpower services.