Former Northway Mall Site Attracts Buyers as Anchorage Commercial Values Rise 7.7%

The former Northway Mall, now called North Pointe in Airport Heights, is listed for sale as a redevelopment opportunity for industrial, retail, office or hotel uses. This listing provides Anchorage buyers with a specific neighbourhood site to evaluate against current market conditions.

Airport Heights Site Details for Buyers

Buyers considering Airport Heights gain direct access to a property that supports multiple uses. The site sits in a neighbourhood where redevelopment interest has surfaced through the North Pointe offering. Local information centres on the listed property's flexibility for industrial, retail, office or hotel projects rather than single-purpose restrictions.

Industrial Vacancy and Value Trends

Anchorage's industrial sector recorded vacancy under 1 percent in mid-2025. Commercial property values across the Municipality of Anchorage increased an average of 7.7 percent for 2026, with some individual properties seeing adjustments of 30 percent to 50 percent. Retail vacancy stays in the low single digits at approximately 5 percent or less with strong tenant demand, while Class A office vacancy registers 12 to 13 percent with positive net absorption.

Recent Acquisitions Provide Context

Time Equities expanded its Anchorage portfolio through a 9.1 million dollar acquisition of an industrial site at 501 West 58th Avenue and a 44 million dollar purchase of the former Sears properties at Midtown Mall and 5900 Old Seward Highway. These transactions illustrate activity levels in industrial and retail segments that buyers in Airport Heights can reference when assessing comparable opportunities.

Prospective buyers should examine the North Pointe listing documents and consult local assessment records to understand how the 7.7 percent average value increase applies to sites with redevelopment potential. Review of current vacancy data and recent portfolio expansions supplies the practical details needed for neighbourhood-level decisions.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.