5th Avenue Mall
Anchorage 5th Avenue Mall is a five-level regional shopping center in downtown Anchorage, Alaska.
Last updated August 25, 2026
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Overview
Anchorage 5th Avenue Mall is a regional shopping center occupying a city block in downtown Anchorage, Alaska. Opened in 1987, the mall was developed by JCPenney and The Rainier Fund on a site that had previously contained mostly small two-story commercial buildings and surface parking. It was conceived as a substantial downtown retail destination and is closely associated with JCPenney, which remains the mall's sole anchor store and the only JCPenney location in Alaska. The property encompasses approximately 447,000 square feet, or 41,500 square metres, across five levels. Its interior design is more elaborate than that of many other Alaskan malls, with a skylit main arcade, broad galleria-style spaces, glass-panel elevators decorated with neon lighting, indoor bridges, and a food court on the upper level. Sky bridges connect the mall with nearby parking facilities and adjoining buildings, while the ground floor of the galleria serves as an indoor extension of D Street. These features allow the mall to function both as a retail complex and as part of downtown Anchorage's pedestrian infrastructure. The mall's early performance was affected by an economic slowdown in Alaska. Occupancy reportedly remained in the 20-to-30-percent range for much of its initial period. The property changed ownership in 1994, when it was sold to Northwestern Simon Inc.; Simon Property Group has operated or administered the mall since that transaction. A pre-existing Nordstrom store, originally built in 1975 and later linked to the mall by a sky bridge, served as a second anchor for many years. Nordstrom permanently closed on September 13, 2019, leaving a major former-anchor space whose redevelopment has become an important part of the property's later planning. The mall has also served as a launch point for several national retailers in Alaska. An Apple Store opened there on August 13, 2011, becoming the first Apple Store in the state. The center has been associated with Alaska's only locations of several prominent brands, including Victoria's Secret, Coach, and Michael Kors, although tenant rosters can change. Gap and Alaska's only Banana Republic store at the mall closed in 2022 and 2023, respectively. Lululemon replaced Banana Republic in 2023, adding a second Lululemon location in Alaska after the retailer's store at Anchorage's Diamond Center. The mall temporarily closed on March 18, 2020, during the COVID-19 pandemic and reopened on May 1, 2020. Its facilities are supported by two connected parking garages: one owned by the Anchorage Community Development Authority and another associated with the JCPenney operation. In 2024, the City of Anchorage took control of maintenance of the former Nordstrom building from Nordstrom. Plans announced in 2026 proposed converting the approximately 80,000-square-foot former anchor space into a mixed-use area containing housing and additional retail. Those plans remained in development and were not presented as a completed redevelopment. The mall continues to operate as a downtown Anchorage retail and pedestrian destination.
History
Anchorage 5th Avenue Mall opened in 1987 in downtown Anchorage on a city block previously occupied largely by small two-story commercial buildings and parking lots. JCPenney and The Rainier Fund developed the project as a major regional shopping center. The mall was built around JCPenney, which remains its sole anchor and has the distinction of being the only JCPenney store in Alaska. The property incorporated a pre-existing Nordstrom store into its design. Nordstrom had been built in 1975 and was connected to the later mall by a sky bridge, allowing it to operate as a second anchor. The center covers about 447,000 square feet and rises five levels. Its architecture includes a skylit main arcade, open galleria spaces, neon-decorated glass elevators, indoor pedestrian bridges, and an upper-floor food court. The mall's bridges also connect to two parking garages, reinforcing its role in downtown Anchorage's pedestrian network. The project opened during an economic slowdown in Alaska, and occupancy reportedly remained between approximately 20 and 30 percent for much of its early history. In 1994, the mall was sold to Northwestern Simon Inc. Simon Property Group has operated or administered the property since then. Over time, the mall became a venue for national retailers entering or expanding in Alaska. An Apple Store opened on August 13, 2011, near the connection to Nordstrom and became the first Apple Store in the state. The center has also been associated with Alaska's only stores for brands such as Victoria's Secret, Coach, and Michael Kors. Nordstrom permanently closed its store on September 13, 2019. The closure removed a long-standing anchor and created a large redevelopment opportunity. The mall also experienced a temporary pandemic-related interruption: it closed on March 18, 2020, during the COVID-19 pandemic, and reopened on May 1 of that year. Tenant changes continued in the 2020s. Gap left in 2022, followed by the closure of Alaska's only Banana Republic location at the mall in 2023. Lululemon replaced Banana Republic in 2023, giving the retailer a second Alaska store after its location at Anchorage's Diamond Center. In 2024, the City of Anchorage took control of maintenance of the former Nordstrom building from Nordstrom. Plans announced in 2026 called for the former anchor space to be redeveloped into housing and retail while retaining approximately 80,000 square feet of interior space. The proposal was still under development. The mall remains an active downtown Anchorage shopping and entertainment destination administered by Simon Property Group.
- 2026
Mixed-use redevelopment proposal announced
[1]Plans were announced to convert the former Nordstrom anchor space into housing and retail while retaining approximately 80,000 square feet of interior space.
- 2024
Anchorage assumes maintenance responsibility for former Nordstrom building
[1]The City of Anchorage took control of maintenance of the former Nordstrom building from Nordstrom.
- 2023
Lululemon enters the mall
[1]Lululemon replaced Banana Republic, becoming the retailer's second store in Alaska.
- 2020
Pandemic closure and reopening
[1]The mall closed on March 18 during the COVID-19 pandemic and reopened on May 1.
- 2019
Nordstrom closes
[1]Nordstrom permanently closed its store on September 13, 2019.
- 2011
First Apple Store in Alaska opens
[1]Apple opened a store at the mall on August 13, establishing Alaska's first Apple retail location.
- 1994
Ownership changes to Northwestern Simon Inc.
[1]The property was sold to Northwestern Simon Inc., while Simon Property Group continued as its operator or administrator.
- 1987
5th Avenue Mall opens
[1]The five-level regional mall opened in downtown Anchorage after development by JCPenney and The Rainier Fund.
- 1975
Nordstrom building constructed
[1]The building that later served as the mall's second anchor was constructed for Nordstrom before the main shopping center opened.
Products and positioning
A centrally located regional shopping mall and downtown pedestrian destination serving Anchorage and the wider Alaskan market, with a mix of department-store, national specialty, fashion, technology, food, and lifestyle retailers.
Department store · 1987
JCPenney
JCPenney is the mall's sole anchor store and the only JCPenney location in Alaska. Its department-store format contributes apparel, accessories, home merchandise, beauty products, and other general retail categories to the center's tenant mix.
Consumer electronics · 2011
Apple Store
Opened in 2011, the Apple Store became the first Apple retail location in Alaska. It provides the mall with a technology-focused flagship tenant centered on Apple hardware, accessories, software, and customer services.
Fashion retail
Fashion and luxury specialty stores
The mall has hosted or continues to host nationally recognized specialty retailers, including Victoria's Secret, Coach, and Michael Kors. These stores give the center a premium and fashion-oriented component in addition to its department-store offer.
Athletic and lifestyle apparel · 2023
Lululemon
Lululemon replaced the former Banana Republic location in 2023. Its arrival added athletic apparel and lifestyle merchandise and represented the retailer's second Alaska store after its Anchorage Diamond Center location.
Food service · 1987
Food court
The mall's upper level includes a food court serving as a dining and gathering area within the five-level shopping complex.
Brand decisions
2026
Former Nordstrom space redevelopment planStrategyBackground
The former Nordstrom anchor building had remained a major unused or underused asset after the retailer's 2019 departure. Anchorage assumed maintenance responsibility in 2024.
Action taken
Plans were announced to convert the approximately 80,000-square-foot interior into housing and retail space.
Aftermath
The proposal remained in development, with no completed conversion reported in the reference material.
2023
Banana Republic space replaced by LululemonGeneration changeBackground
Banana Republic's Alaska location at the mall closed in 2023 after Gap had also departed in 2022.
Action taken
Lululemon took over the former Banana Republic space.
Aftermath
The tenant mix shifted toward athletic and lifestyle apparel, and Lululemon established its second Alaska store.
2019
Nordstrom anchor closureOtherBackground
Nordstrom had operated a major store connected to the mall since the pre-mall building was constructed in 1975.
Action taken
Nordstrom permanently closed the store on September 13, 2019.
Aftermath
The closure left a substantial former-anchor space requiring new uses and redevelopment planning.
2011
Apple Store launchProduct launchBackground
Apple selected the mall for Alaska's first Apple Store.
Action taken
The store opened near the sky bridge connecting the mall with the former Nordstrom building on August 13, 2011.
Aftermath
The opening added a nationally prominent technology retailer and made the mall the first Apple retail location in Alaska.
Recent events
- 2026
Plans announced for former Nordstrom space[1]
Other
Plans were announced to convert the approximately 80,000-square-foot former Nordstrom anchor space into housing and additional retail. The proposal remained in development.
- 2023
Gap and Banana Republic locations leave the mall[1]
Other
Gap closed in 2022 and Alaska's only Banana Republic location closed in 2023, changing the mall's fashion-retail mix.
- 2023
Lululemon replaces Banana Republic[1]
Product launch
Lululemon took over the former Banana Republic space, becoming the retailer's second Alaska store after its Anchorage Diamond Center location.
- 2020
5th Avenue Mall closes during the COVID-19 pandemic[1]
Regulation · Other
The mall closed on March 18 because of the COVID-19 pandemic and reopened on May 1.
- 2019
Nordstrom closes its 5th Avenue Mall location[1]
Other
Nordstrom permanently closed its Anchorage store on September 13, ending the mall's long-running second-anchor arrangement.
- 2011
Apple opens Alaska's first Apple Store at 5th Avenue Mall[1]
Product launch
An Apple Store opened near the sky bridge linking the mall with the former Nordstrom building, becoming the first Apple Store in Alaska.
Sources2 sources
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