Lowe's to add South Anchorage store
Officials from Lowe’s Home Improvement stores have purchased property in South Anchorage and plan to begin building the retailer’s second Anchorage store this spring.
The Wilkesboro, N.C.-based chain completed its acquisition Jan. 9 of 21.5 acres at the southwest corner of the Old Seward Highway and O’Malley Road, said company spokeswoman Suzanne McCoy.
"We anticipate construction could begin in May," she said.
The store is expected to open in January 2002, she said.
A new $15-million Lowe’s store should total about 150,000 square feet, including 28,000 to 30,000 square feet for a lawn and garden center, McCoy said.
Stores of this size typically employ 175 to 200 people with 85 percent of those employees working full time, she said.
Loyal customers at the current store prompted the company to consider a second store in the market, she said.
This store will be the first Alaska Lowe’s designed after company models, she noted. Lowe’s acquired Eagle Hardware and Garden, including its Midtown Anchorage store, in April 1999. After the acquisition, Lowe’s made alterations to Eagle stores.
"For Lowe’s it’s an opportunity to have a Lowe’s prototype store in the market," she said.
Lowe’s prototype stores are designed to look less like a warehouse store and feature wide aisles and bright lights, McCoy said. The stores also include a home decor section with specialists who can assist in design, she said.
Competitor Home Depot, based in Atlanta, also plans to build its second Anchorage store this year in East Anchorage. Construction could begin this year and the store could open in late 2001.
The new Anchorage retailer will weigh in at 133,000 square feet and include a 15,000-square-foot garden center.
Alaska Sales and Service buys Wasilla dealership
Anchorage-based car dealership Alaska Sales and Service has purchased Valley Pontiac /GMC in Wasilla.
The deal, completed Jan. 1, allows the 56-year-old dealership to build a presence in the fast-growing Matanuska-Susitna valleys market, company officials said.
"We’re the oldest dealership in Alaska, and we have many customers in the Valley," said Alaska Sales and Service general manager Diana Pfeiffer. "It is going to allow us to work more closely with customer relationships we do have as well as develop new ones."
The purchase permits Alaska Sales and Service to sell Pontiac and GMC vehicles in the Wasilla area, she said.
Terms of the deal were not disclosed.
The acquisition includes a three-acre lot at Mile 38.5 of the Parks Highway, plus assets and inventory. Alaska Sales and Service plans to continue employing existing staff, Pfeiffer said. Existing personnel at the Wasilla dealership total 30 full-time staff, said Lynn Harriman, general sales manager in Wasilla.
"As we grow the business we’ll probably have more employees," said Harriman, who has worked 20 years for Alaska Sales and Service.
Valley Pontiac/GMC now operates as Alaska Sales and Service Inc. - Wasilla.