COMPLEMENTARY BLEND OF RETAIL,
RESTAURANT & OFFICE

The original concept when Pacific Place was conceived was to create a facility with multiple complementary uses; specifically, tourist-oriented retail shops on the ground floor, quality restaurants on the second floor that would attract tourists and local residents alike, and high quality office space on the third floor. This concept has proven to be highly successful for all involved. Pacific Place’s mix of retail and restaurant tenants provides an ideal situation for our tenants: a sufficient number of businesses to create a highly attractive destination with each tenant having a unique (i.e., not competitive) product.Pacific Place opened in 1997 and since that time it has become a landmark. Furthermore, the mix of tenants has made Pacific Place a frequent destination for both residents and tourists. The tenant mix creates an atmosphere of continuous activity that has fulfilled our original intent of creating a high quality facility with a distinctive, casual and relaxing character. Much of Pacific Place is still leased to original tenants. These successful businesses have found the location and amenities ideally suited to their needs and have consistently achieved sales superior to other locations.

EXCEPTIONAL TENANT PERFORMANCE

Based on the gross revenue information that we get from our tenants and the estimated dollars spent per transaction, we can closely estimate the number of transactions per day (i.e., buying customers) at Pacific Place. On average, this number is approximately 2,000 transactions per day. Presumably, the actual foot traffic is much higher as not everyone that enters or passes by actually purchases something.
The success of Pacific Place is ultimately measured by the success of the tenants. In general terms, the following examples demonstrate their success.
• highest grossing Loco Boutique store on Guam (higher than GPO, Micronesia Mall, or Tumon Sands Plaza)
• highest grossing Capricciosa Restaurant on Guam (higher than Royal Orchid or Agana Shopping Center)
• highest grossing Outback Steakhouse in Asian International Region
• second to third highest grossing ABC Store on Guam (out of 7)