“We have no way of accounting for all the transactions because Alaska is not a public-disclosure state,” said Champion, who works for Coldwell Banker Race Realty. “I don’t know that even building permits would be a good indicator of total transactions.” Regardless, Champion feels that the demand for and inventory of commercial property are pretty well in balance. The properties that are available primarily fall into two main categories: retail buildings and warehouses. In terms of the climate for commercial real estate, there hasn’t been a big shift in the area’s requirements for codes and zoning over the last few decades, Champion says. Recently, the CBJ has seen the opening of several national chain stores. In January, a new Petco opened in Nugget Mall. Soon after that, OfficeMax moved in next door to Petco. These mega stores are a positive addition to the retail community because they provide steady, year-round jobs for local residents. Last year, a quasi-commercial project went up near the airport in “the Valley.” The property creatively combines commercial and living spaces to cater to a broader market. The first floor features a storefront, while the second floor has trendy 1,200-square-foot condos. Tenants have easy access to commercial services and the convenience of living within walking distance of trails, parks, elementary schools and other amenities.
The CBJ residential real estate market is doing well, reports Mimi Rothchild, a Realtor with Re/Max of Juneau. Home sales are picking up, she says. As of Jan. 26, there were 71 singlefamily properties, townhouses and condos on the market, according to Rothchild, who served as the 2011 president of the Southeast Alaska Board of Realtors. Those properties were priced from $199,000 to $1.5 million, with 13 of them being more than $500,000. About 50 of the 71 listings were for stand-alone, single-family homes. The demand for houses in Juneau seems to be running greater than the supply, according to Rothchild. “This year, we have more buyers who are looking, but we don’t’ have a whole lot of property on the market,” she said. “Maybe people are waiting to put their www.akbizmag.com • Alaska Business Monthly • April 2012
Published on Apr 1, 2012
Alaska Business Monthly’s 2012 Corporate 100 annual special section begins on page 86. Top citizens of industry are highlighted in this annu...