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FREMAUX TOWN CENTER

Interstate 10 and Fremaux Avenue | Slidell, Louisiana

 

THE WHAT AND THE WHY

Fremaux Town Center is a 635,000 square foot shopping center located on over 80 acres at the southwest corner of Interstate 10 & Fremaux Avenue in Slidell, LA. Slidell is the largest municipality in St. Tammany Parish on the northern shore of Lake Pontchartrain near the city of New Orleans. The area has experienced significant growth following Hurricane Katrina and Fremaux Town Center offers the area a one-of-a-kind retail experience to meet the increased demand, with many of the retailers and restaurants opening on the Northshore for the first time. With its interstate location and high-visibility, Fremaux Town Center has become a leading, regional shopping destination.

OUR CHALLENGE

Though not initially selected to develop the project, Stirling Properties was given a second chance to take over the development. We looked at what was started, then examined our core competencies and what we could do to make the project a success. We did not hesitate and seized the opportunity.

OUR STRATEGY

We formed a joint venture with CBL & Associates Properties, Inc. (NYSE: CBL) in which Stirling leads the development and management of the project and CBL and Stirling jointly lease and market the shopping center. From our start in mid-2012, we adapted the project’s initial vision and scope into what we believed could come to fruition and thrive in the market. Exemplifying a very cooperative public-private partnership, we worked closely with City, Parish, State and Federal leaders throughout the project.

OUR RESULTS

Anchored by Kohl’s, Dick’s Sporting Goods, Michaels, Best Buy, T.J.Maxx and LA Fitness, Phase I opened in March 2014 and is 100% leased and thriving. Phase II, anchored by a 128,000 square-foot Dillard’s, opened October 2015 with tenants Off Broadway Shoe Warehouse, Forever 21 Red, Pier 1 Imports and Victoria’s Secret among others and is 92% leased.

This project is seen as a barometer for East St. Tammany Parish. As it has been successful, the City of Slidell has seen growth in the City budget and in other areas, as well as economic opportunities for the citizens of Slidell, and the whole of St. Tammany Parish. With the opening of Town Center Parkway that connects Old Spanish Trail through Fremaux Town Center to Fremaux Avenue, the project will continue to grow as more than 200 additional acres are now accessible for future development of a mixed-use center. Multi-family residential options and hotel developments are coming soon.