Commercial real estate flat in Anchorage, up in Fairbanks
Commercial real estate professionals throughout the state said 2002 was a good year for the industry, but their opinions are split over the outlook for next year.
Sales and leases in Anchorage leveled off this year after a record-setting 2001, according to Chris Stephens, an associate broker
Stephens said that's because slow markets discourage companies from expanding. When the economy is good, businesses are more likely to grow and expand into new spaces. Periods of slow growth, however, have the opposite effect.
"Commercial real estate moves with the economy," Stephens said.
Bill Gee, president of Alaska Chapter 97 of the Institute for Real Estate Management, said he prepared for 2003 by monitoring market activity within the state and news of Outside companies expanding into Alaska.
He said those indicators don't promise much impending activity within the Anchorage area.
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