Alaska Legacy Partners Purchases Twenty-Seven Acres in Heart of Juneau
Real estate group buys third Juneau property
Panoramic view of Mendenhall Business Park in Juneau.
JUNEAU–Real estate investor and developer Alaska Legacy Partners acquired the Mendenhall Business Park, better known locally as the “Mendenhall Mall and Super Bear area.” Alaska Legacy Partners, which now has three active projects in Juneau, purchased the commercial hub this May.
“Paul (Simpson) and I are thrilled to further our investment into this community. We are passionate about revitalizing commercial properties and creating innovative development opportunities throughout Juneau,” said Garrett Schoenberger, co-founder of Alaska Legacy Partners. “We have a talent for recognizing properties with untapped potential and are taking action to bring some energy and life back into areas of the community that need it most.”
The 27-acre site, set up as a master land lease structure, was previously owned by the Robinson family, and represents one of Juneau’s most popular year-round commercial centers. Situated in the heart of the Mendenhall Valley, the park provides retail amenities to Juneau’s largest population base. Mendenhall Business Park is comprised of 18 long-term land leases, Mall Road, and over 243,000 square feet of buildings. Stretching from Asiana Gardens to Tesoro gas station, and from McGivney’s to the office annex at the end of the mall, the project is one of the largest properties on the City and Borough’s tax roll, valued at more than $18 million.
“Our plan for the business area is long term in nature and we intend to work with all business owners to improve and revitalize the business park. Our goal is to create a clean, safe and modern environment that facilitates more traffic and growth to every retail business,” said Simpson. “We are currently working with several building owners who are planning major renovations and in the coming months will make this information public.”
Bordered by Egan Drive, Riverside Drive, and Loop Road, the site represents the epicenter of year-round commercial activity for Juneau. From a traffic count perspective and access to population base the site provides a major opportunity for local businesses. According to Schoenberger, there are vacant parcels available. “We are seeking businesses looking for the opportunity to join a vibrant community of retail and service providers. Constructing a new professional medical and office building is being considered and the feedback we’ve received thus far has been strong. The valley is under ammenitized and is ready for fresh retail, restaurants, office and medical services housed in state-of-the-art facilities.”
Bird’s eye view of Mendenhall Business Park.
Aerial shot of Mendenhall Business Park.
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