Juneau, Alaska: Retail Service Hub and Top Visitor Destination

Juneau, the state capital, is a regional service and retail hub for much of Southeast Alaska. Within the past five years, a surge of interest in the area's economic growth has resulted in the opening of Walmart and Home Depot, joining other national stores located in Juneau such as Costco and Fred Meyer. OfficeMax and PETCO are currently negotiating Juneau lease arrangements.

Home to over 31,000 people year-round, Juneau also serves neighboring communities with combined populations exceeding 20,000. During the May through September visitor season, the community is one of the top tourist destinations in Alaska, attracting nearly one million cruise ship visitors and approximately 120,000 independent travelers.

Projections indicate that visitor numbers are now on the rise following a few years of flat growth.

Strategic Benefits

At the very center of Juneau's central business district
Two cruise ships tie-up adjacent to the property throughout the visitor season
Immediately adjacent to the municipal parking garage and library

Nearby projects in the final planning stages include:

Two floating "Panamax" docks, positioned in front of the property
The existing dock will then be tied into the waterfront "seawalk"
Upon completion, the property will be bordered by the two principal foot-traffic corridors: S. Franklin St. and the waterfront seawalk

Cruiseship dockings & planned Panamax Docking Facility

Cruiseships docking in Juneau currently carry approximately 2,000 passengers per ship. The next generation of ships, sized to Panamax dimensions (the largest that can transit the Panama Canal), will carry 3,000 and more passengers. The Panamax dock facilities (Project 16-b), soon to be constructed along this stretch of the Juneau waterfront, will accommodate two of the giant cruise ships.

Strategic Benefits

The site is located within a mixed-use development zone that permits retail, residential, and other compatible uses. The property is sub-dividable. Negotiations are being concluded with the City regarding a 17,000 sq. ft. public right of way through the property, with discussions centering on a public plaza (see site map) that would abut the waterfront seawalk.

Site Characteristics

Once an extensive wharf, the site of Archipelago Property was long ago filled-in with rock from the A-J Gold Mine.

Borders on the 300 and 400 blocks of South Franklin Street
Permanent, unrestricted easement to the fronting dock
Recently received a clean environmental assessment

Property Values

Comparable undeveloped properties have sold at prices between $150 to $175 per square foot. Neighboring buildings have sold for $400 to $600 per square foot. Retail businesses in the vicinity report annual sales of $300 to $1,000 per square foot.

The sale price is negotiable, with most favorable consideration given to comprehensive purchase offers.