Time Equities Acquires Retail, Warehouse Portfolio in Anchorage for $44M

ANCHORAGE, ALASKA — Time Equities Inc. has purchased Midtown Mall and 5900 Old Seward Highway in Anchorage from Seritage Growth Properties for a $44 million. Totaling 252,663 square feet, the deals mark Time Equities’ entry to Alaska.

Midtown Mall is a 164,664-square-foot, grocery-anchored shopping center. At the time of sale, the property was 81 percent leased. Current tenants include Carr’s Grocery Store, Guitar Center, Nordstrom Rack and Planet Fitness.

Situated on 7.8 acres, 5900 Old Seward Highway is a 98,087-square-foot former Sears warehouse building, which is currently vacant.

Ami Ziff, Jonathan Kim and Grant Scott provided in-house representation for Time Equities, while Dino Christophilis of CBRE represented the seller in the deal.