Glenn Square

Glenn Square is a power-center shopping complex in Anchorage, Alaska. It occupies approximately 25 acres in the Mountain View neighborhood and contains a combination of small shops, restaurants, and larger anchor stores. Its most prominent anchor is an approximately 80,000-square-foot Bass Pro Shops Outpost. The center takes its name from the Glenn Highway, whose western terminus is close to the southern edge of the property. Located across the highway from Northway Mall, Glenn Square was intended to supplement one of Anchorage’s established neighborhood shopping areas while contributing to the redevelopment of Mountain View. The property was developed by P. O’B Montgomery & Company, now identified as Benchmark Opportunity Partners LLC, after the developer acquired the land from the Municipality of Anchorage. The transaction was connected to a municipal redevelopment effort. Anchorage had established the Anchorage Community Development Authority in 2005 to negotiate sales of municipal land outside the city council’s usual process. The land sale was structured with limited profit for the municipality in light of the substantial environmental cleanup costs associated with the site, and the broader objective was to help revitalize the surrounding neighborhood. Development took place during a period of significant physical change in Mountain View. New housing construction to the north replaced some homes dating from the neighborhood’s early development in the 1940s. Clark Middle School, located east of the future center, was demolished and replaced with a new school building. Transportation infrastructure also changed when the at-grade Glenn Highway and Bragaw Street intersection was replaced by an interchange. These projects formed part of a wider transformation of the area around Glenn Square. Construction of the shopping center occurred in 2006 and 2007, but leasing was initially difficult. A competing retail development, Tikahtnu Commons, began construction a few miles east in 2007 and attracted potential tenants with a substantially larger project that included Alaska’s first Target store. Glenn Square remained largely vacant as late as 2011. The center had also planned a 12-screen Century Theatre, which would have been the chain’s second Anchorage location. Century withdrew after learning that Regal Cinemas planned a 16-screen multiplex at Tikahtnu Commons, weakening Glenn Square’s intended entertainment component. The opening of Bass Pro Shops in 2014 provided a major anchor and was followed by increased visitor activity and an influx of additional businesses. Later that year, JL Properties purchased Glenn Square from Kimco Realty Corp. The available reference material does not establish the center’s current ownership, tenant roster, operating status, or management arrangements. Glenn Square is best understood as a local retail and commercial real-estate property rather than a conventional consumer-goods brand.

Glenn Square was developed on a 25-acre parcel in Anchorage’s Mountain View neighborhood by P. O’B Montgomery & Company, now known as Benchmark Opportunity Partners LLC. The development followed the municipality’s sale of the land, a transaction pursued through the Anchorage Community Development Authority. Established in 2005, the authority was created to negotiate municipal land sales without the city council process normally used for such transactions. The property required pollution cleanup, and the municipality reportedly accepted relatively little profit from the sale in support of neighborhood revitalization. The project formed part of a wider redevelopment program in and around Mountain View. Housing construction north of the site replaced some older homes, including residences dating from the neighborhood’s formative period in the 1940s. Clark Middle School to the east was demolished and replaced with a new facility. Road improvements also altered access to the area: the former at-grade intersection of the Glenn Highway and Bragaw Street was replaced by an interchange. Glenn Square’s name reflects its location beside the Glenn Highway, near the highway’s western terminus. Construction spanned 2006 and 2007. The center was planned as a collection of smaller retail and food-service spaces supplemented by large anchors. Leasing, however, progressed slowly. Tikahtnu Commons, a much larger retail project several miles east, began construction in 2007 and offered a powerful competitive alternative, including Alaska’s first Target store. By 2011, Glenn Square was still reported to be substantially vacant. Entertainment was intended to be an important part of the original tenant strategy. Century Theatre planned a 12-screen cinema, which would have been the chain’s second Anchorage location. The plan was abandoned after the company learned that Regal Cinemas was planning a 16-screen multiplex at Tikahtnu Commons. The loss of the cinema reduced the project’s ability to generate routine evening and weekend traffic. Glenn Square’s position improved after Bass Pro Shops opened an approximately 80,000-square-foot Outpost in 2014. The anchor helped increase the center’s visibility and popularity and was followed by the arrival of additional businesses. In October of that year, JL Properties purchased Glenn Square from Kimco Realty Corp. The available reference does not provide later ownership information, a complete tenant list, or evidence sufficient to characterize the center’s present operating condition.

• 2014

  Bass Pro Shops Outpost opens

  [1]Glenn Squareen.wikipedia.org

  The opening of the large Bass Pro Shops Outpost helped improve traffic and tenant momentum.

• 2014

  JL Properties acquisition

  [1]Glenn Squareen.wikipedia.org

  JL Properties purchased Glenn Square from Kimco Realty Corp. in October.

• 2011

  Center remains largely vacant

  [1]Glenn Squareen.wikipedia.org

  Glenn Square continued to experience weak leasing and was still described as largely vacant.

• 2007

  Construction period concludes amid leasing competition

  [1]Glenn Squareen.wikipedia.org

  The center was completed during a period when the larger Tikahtnu Commons project was beginning construction nearby, creating competition for tenants.

• 2006

  Construction begins

  [1]Glenn Squareen.wikipedia.org

  Construction of Glenn Square began and continued through 2007.

• 2005

  Anchorage Community Development Authority established

  [1]Glenn Squareen.wikipedia.org

  Anchorage created the authority that negotiated municipal land sales connected with redevelopment projects, including the property later developed as Glenn Square.

A neighborhood-oriented power center intended to support Mountain View redevelopment and complement Northway Mall, with large-format anchors and convenient access from the Glenn Highway.

• Outdoor retail anchor · 2014

  Bass Pro Shops Outpost

  An approximately 80,000-square-foot outdoor-retail anchor and the most prominent tenant associated with Glenn Square. Its 2014 opening materially improved the center’s popularity and helped attract additional businesses after years of weak leasing.

• Retail and food service

  Small shops and eateries

  Glenn Square’s supporting tenant mix consists of smaller retail units, restaurants, and other local commercial offerings. The available reference does not identify the complete roster of businesses or indicate which tenants remain present.

• Entertainment

  Planned Century Theatre

  A proposed 12-screen cinema intended to serve as a major entertainment anchor. Century Theatre withdrew after a competing 16-screen Regal Cinemas project was identified at Tikahtnu Commons, and the theater was not completed as part of Glenn Square.

• 2014

  JL Properties acquires Glenn SquareM&A

  Background

  After years of difficult leasing and a subsequent improvement associated with the Bass Pro Shops opening, the center changed ownership.

  Action taken

  JL Properties purchased Glenn Square from Kimco Realty Corp. in October 2014.

  Aftermath

  The available reference identifies the transaction but does not provide purchase terms, later ownership changes, or detailed operating results.

  Source

1. 1Glenn Squareen.wikipedia.org