Real estate developer Calvo Enterprises Inc. is converting the former Guam Power Authority headquarters in Harmon, Guam, into a $1.5 million self-storage facility. The property on Route 16 is ideal for self-storage, according to Leonard Calvo, vice president.
"It's quite a big investment, but we think it's an industry that's going to take off on Guam, especially all the renters up there, the high-end housing,” Calvo said. “We're just excited about it. We think it's going to be a pretty good future with a lot of growth potential.”
Renovation of the building will begin early next year. Once complete, the facility will include about 40,000 square feet of climate-controlled storage space on two floors, Calvo told the source. A portion of the parking area will be converted to 60,000 square feet of drive-up self-storage.
Founded more than 30 years ago, Calvo Enterprises owns and operates a number of Guam businesses in several industries, including banking and finance, entertainment and media, insurance, real estate and construction, retail, and wholesale distribution. The company is owned by the Calvo Family.
- Calvo Enterprises Inc.: Website
- Kuam News: Former GPA HQ Being Converted Into Self-Storage facility