Port Authority of Guam, Black Construction ink $10.5M lease deal for Hotel Wharf site

By Pacific Island Times News Staff

The Port Authority of Guam has signed a $10.5 million lease agreement with Black Construction Corp., covering more than 374,000 sq ft of port property, which the company will use while fixing the glass breakwater in Apra Harbor.

The contract was executed on May 1 following approval by the Port Authority Board of Directors during its regular meeting on April 30.

The four-year lease is valued at $10,567,340.16 and includes the following terms:

·       $75,950.15 monthly will be paid for use of the Hotel Wharf site.

·       $144,202.77 monthly will be paid for the former Hawaiian Rock site.

·       $220,152.92 total monthly rent to be paid.

Lease will begin June 1 with a one-year automatic extension unless either party opts out with 90 days’ notice.

Black Construction will invest in vital infrastructure improvements, including road paving from the 76 Circle K gas station to Family Beach, resurfacing of the Hotel Wharf, and installation of security lighting and fencing.

 Additional upgrades will include the construction of warehouse and office facilities, the installation of concrete slabs, and utility infrastructure improvements.       

“This lease agreement is a win on every front—for the Port, for the people of Guam, and for our island’s role in national security,” said Rory J. Respicio, ther port's general manager. “We are generating substantial revenue, enhancing Port security, and preparing our facilities for future growth.”

In addition to revenue generation, the lease strengthens Guam’s strategic readiness and includes environmental safeguards, a baseline condition assessment, and clear provisions on compliance, indemnification, and use restrictions—ensuring responsible development and stewardship of Port lands. The agreement underscores the Port’s commitment to supporting Guam’s long-term economic growth and reinforcing the island’s critical role in national defense operations.