Artillery Park boasts sleek look, affordable rents

Wednesday, September 30, 2015 - 10:48
  • STAR PHOTO BY MARY LOCHNER - Pacific Rim Athletics is one of two new businesses already occupying space at the new Artillery Park commercial real estate buildings in Eagle River.

When it comes to space for local businesses, there’s a new kid on the block. Artillery Park, a commercial real estate project of Eklutna, Inc., opened in September with two new store fronts, Odd Man Rush Brewing and Pacific Rim Athletics, already in place.

Greg McDonald, real estate manager for Eklutna, Inc., said they envision the new two-building development as a future destination shopping center in Eagle River, similar to the Eagle River Mall.

Located on the corner of Mausel Street and Artillery Road, it’s across the Glenn Highway from the main drag, behind Eagle River Academy, or what used to be the local roller skating rink.

The municipal zoning for the location means many different types of businesses could be housed there, McDonald said.

“The I-1 light industrial use is acceptable for a really wide variety of business, from restaurants to retail to obviously a brewery, office professional, light manufacturing.”

The overhead rear door access for units in both buildings allows for large back-of-store deliveries, the floor plans are open with no columns intruding on the space, and the store front design is meant to have a clean, modern look. The south building has eight tenant spaces at 2,100 square feet each, and the north building has eight spaces at 1,800 square feet each, but the units are meant to be customizable to a larger or smaller size.

Eagle River businesses have for several years faced a financial pinch as local commercial rents have continued to climb. McDonald said Eklutna, Inc. hopes to relieve some of that pressure by offering additional space at affordable rates, at $1.50 per square foot.

McDonald said a relative paucity of light-industrial zoned commercial real estate in the municipality is one factor that tends to drive rents up for some businesses.

“There’s not any being built, because the rent that people would have to charge in order to build new light industrial makes it too high for tenants to occupy that space,” McDonald said. “We’re able to offer the rent as low as it is for two reasons – one, we own the land the building sits on, and, the construction company that built the buildings is our construction company.”

Depending on what the market bears when, a phase 2 of commercial development is planned for the adjacent 2.5 acres.

 

Contact Greg McDonald at 907-696-2828 for information.

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