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HAMMOND SQUARE

I-12 & SW Railroad Avenue | Hammond, Louisiana

 

THE WHAT AND THE WHY

Hammond Square is an award-winning redevelopment of a smaller, functionally obsolete indoor mall into an over 700,000 square foot combination power and lifestyle center.Originally Hammond Square Mall was anchored by Sears, Dillards, and Rite Aid, all of which remained in operation throughout the redevelopment process. Stirling Properties acquired an additional 50 acres of adjacent land and partnered with the City of Hammond to turn the obsolete property into a firstclass lifestyle and power center that is again the cornerstone of retail activity for area residents.

OUR CHALLENGE

The former Hammond Square Mall was a quickly failing indoor mall. With a fast-changing real estate landscape, the two-story indoor mall was losing tenants, while the City of Hammond lost valuable sales tax dollars and jobs. The mall and overall site required significant infrastructure and capital improvements, as well as a revamped management strategy. While redeveloping the property, we worked around Sears, Dillard’s, and Rite Aid in order to allow them to continue to operate. Due to the obsolete design, construction and expansion was a significant undertaking and involved a high degree of risk and coordination.

OUR STRATEGY

We knew we had a great site at a strategic intersection, in a good market, and in our own backyards. Our goal was to build a project that would make the City of Hammond and area residents proud. Through commercial real estate, we saw an opportunity for economic development. We worked, in conjunction with the City of Hammond, to provide over 900 permanent jobs, increase sales tax revenue and implement over $15 million in infrastructure improvements. Having successfully developed other shopping centers in the region with a similar group of national retailers, we leveraged our relationships with these national tenants to attract them to Hammond Square.

OUR RESULTS

We transformed a struggling indoor mall into an extremely successful redevelopment project which is providing the City of Hammond with a significant return on their investment through increased retail sales and tax revenue. While the mall had lost numerous tenants, we used our vision to create value resulting in the return of JCPenney to Hammond Square. Along with JCPenney, retailers such as Target, T.J.Maxx, Best Buy, ULTA Beauty, Books-AMillion, and Academy Sports + Outdoors operate successful stores in Hammond Square, Tangipahoa’s first-class power and lifestyle center.

Visit Website - www.hammond-square.com