Stirling Properties Announces New Tenants for Cornerview Plaza in Gonzales, LA
Redevelopment of former Kmart into multi-tenant retail center.
Stirling Properties commercial real estate company announces and welcomes new tenants to Cornerview Plaza retail center located at the corner of Airline Highway and Cornerview Street in Gonzales, Louisiana.
Marshalls, ULTA Beauty, Ross Dress for Less, Five Below and Aspen Dental will join the tenant lineup at Cornerview Plaza. The new retailers join AT&T, and anchor-tenant Rouse’s Market.
Ryan Pécot, Senior Retail Leasing & Development Executive with Stirling Properties, worked on behalf of the landlord in securing the tenants for the center.
Marshalls, ULTA Beauty, Ross Dress for Less and Five Below will backfill the 40-year-old, 86,000-square-foot former Kmart space into a fully renovated, upscale retail center. A 3,500-square-foot outparcel building is also being constructed on the property for Aspen Dental. Stirling Properties serves as the Asset Manager and exclusive leasing agent of the property, and is overseeing the redevelopment project. The company will also continue daily property management operations following completion.
Construction on the site has commenced. Upon completion of the redevelopment project, Cornerview Plaza will include nearly 124,000 square feet of total retail space.
“Stirling Properties is pleased to be a part of the redevelopment of Cornerview Plaza and to officially welcome these highly anticipated tenants to the Gonzales market,” said Grady Brame, Executive Vice President with Stirling Properties. “We are excited to work with the property owner to move this project forward and reestablish Cornerview as a major shopping destination for the surrounding Ascension community.”
“Cornerview Plaza is ideally situated in the heart of Gonzales’s primary retail corridor, drawing shoppers from numerous surrounding communities. This center offers great visibility and foot traffic for tenants—which helped us to secure these national retailers. Ross, Marshalls, ULTA and Five Below all have locations in nearby Baton Rouge, proving that this is a thriving multi-store region that can support high retail demand,” said Pécot.
For leasing information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com.
Stirling Properties Mobile Office Market Survey 2018
Stirling Properties is pleased to release our
Mobile Office Market Survey for 2018.
The assessment—compiled by Jill Meeks and Jack Conger, Sales & Leasing Executives with Stirling Properties—reiterates the continued growth rate of the Mobile area, particularly among the industrial sector. The office segment remains stable, with office investment activity for both the Central Business District (CBD) and West Mobile attracting attention. However, many new prospects are eyeing our region, and we anticipate a considerable increase in occupancy over the coming years.
Additionally, we are seeing the conversion of numerous historic buildings into new uses, such as retail and office space, which is another strong indicator of increased occupancy. Although many existing office buildings in Mobile are mature properties, owners who update or consider innovative uses for their assets may experience increased leasing activity and improved tenant retention.
These are exciting times for Mobile indeed! Companies, business leaders, and individuals with vision, who embrace the ability to adapt to changing times, will help to keep this momentum going! We say, “Let the good times roll!” Happy New Year and Happy Mardi Gras to all!
Click here to view and download the complete 2018 Mobile Office Market Survey.
Please contact Stirling Properties or one of our team members for any questions or comments.
We appreciate the information provided by all of the various property owners, leasing agents and other individuals that makes this survey possible. Thank you.
National Association of REALTORS® Names Stirling Properties’ Beth Cristina as Regional Vice-President
Stirling Properties’ Senior Broker Associate, Beth Cristina, ALC, has been selected by the National Association of REALTORS® (NAR) as 2019 Regional Vice President. She will oversee Region 10 which encompasses Louisiana and Texas.
In her new role as Regional Vice President, Cristina will be responsible for serving as a spokesperson for the association, identifying problems or opportunities within the region, and assisting wherever possible. She will also be accountable for attending state conventions and annual meetings of the National Association and chairing the regional caucus meetings to conduct business affairs and exchange information. Cristina will join 13 other elected individuals who are appointed to administer the work of the National Association in their respective regions.
“I am honored to be elected as the NAR 2019 Regional Vice President for Louisiana and Texas,” said Cristina. “I am very motivated and will continue to be a driving force in all of NAR’s efforts to serve its members.”
Cristina has over thirty-eight years of successful experience in commercial real estate sales, leasing, development, and investments. Her qualifications include retail and office market analysis, tenant/landlord and purchaser/seller representation, marketing sales, leasing strategies, and consulting services. She has earned numerous awards and recognition throughout her career, including Outstanding Achievement in Commercial Real Estate (2011), Realtor of the Year (2010), and Woman of the Year (2005).
She is affiliated with several business and professional organizations, including Realtor Land Institute (RLI); Louisiana Realtors (LR), where she served as 2015 President; New Orleans Metropolitan Association of Realtors (NOMAR), where she served as 2005 President; and Commercial Investment Division (CID) of NOMAR, where she served as President for 2000 and 2008. Most recently, she served as NAR’s 2018 Commercial Committee Chair and assumed the position for one year.
The National Association of REALTORS® is America’s largest trade association, representing over 1.3 million members, including NAR’s institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. Membership is composed of residential and commercial realtors who are brokers, salespeople, property managers, appraisers, counselors, and others engaged in the real estate industry. Members belong to one or more of approximately 1,200 local associations/boards and 54 state and territory associations of REALTORS®.
Beth Cristina can be reached at (504) 620-8127 or bcristina@stirlingprop.com.
‘Tis the Season for Giving!
For it is in giving that we receive. –Francis of Assisi
Team Stirling Properties once again teamed up with Volunteers of America to participate in the Christmas Wish “Angel” Project. For the 7th year, our company donated Christmas gifts and other essential items to local families in need across our Gulf South region.
The annual Christmas Wish Project helped bring joy and holiday cheer to families and individuals who might not have had a Christmas this year. Through Volunteers of America (VOA), participating families submitted “wish list” gift items for each individual. The wishes were noted on paper angels and hung on the company Christmas tree where Stirling Properties and employees could select and grant them. In all, 11 families and more than 60 children, adults and seniors received Christmas gifts.
Stirling Properties’ Stewardship Committee organized the company-wide events by partnering with Volunteers of America in Greater New Orleans, Greater Baton Rouge and the Southeast to serve the New Orleans Northshore and Southshore, Baton Rouge, Lafayette, and Mobile communities.
In addition to donating gifts to the Christmas Wish Project, Stirling Properties hosted its fourth annual Northpark Christmas Bazaar, Bake Sale & Raffle on Thursday, November 29th. Local vendors, as well as employees of the Northpark office complex sold baked goodies, crafts, jewelry, ornaments, artwork, beauty products and many other great gift items.
The Christmas Bazaar raised $3,000 which was also donated in full to Volunteers of America to assist more families in our area with emergency holiday needs.
Team Stirling Properties also held a ‘Tis The Season Day,’ where employees donated money for the opportunity to wear their favorite Stirling gear to work (or Saintsmas gear, of course!). The day raised $315 that will benefit the VOA Christmas Wish Project as well.
The Holiday Season is a time for gratitude, generosity and giving back to our region. Stirling Properties is committed to supporting the communities where we live and work, and we will continue to support local nonprofits, community groups and charitable organizations throughout the year and beyond.
Thank you to all of the vendors, donors and shoppers who made this project a huge success. On behalf or Stirling Properties, we wish you and yours a joyous Holiday Season and a Happy New Year!
For more information about Stirling’s Stewardship Committee, please visit our website or contact us by email at stewardship@stirlingprop.com.
“The Halo Effect” shines light on significance of physical stores
Brick-and-mortar stores have a bright future in the retail industry, and now we have data to prove it. We’ve heard the widely drawn-out debate of clicks vs. bricks—or the speculations that e-commerce will cause the demise of physical stores. However, according to a recent report by ICSC, “The Halo Effect: How Bricks Impact Clicks,” brick-and-mortar stores are essential to the success of retailers.
The “halo effect” is defined as the tendency for an impression created in one area to influence another. ICSC’s study, the largest of its kind, explores and quantifies how physical store locations impact a brand’s digital presence. Here are a few of its key findings:
- Opening one new physical store in a market results in an average 37% increase in overall traffic to that retailer’s website and increases its share of web traffic within that market by an average of 27%.
- The opposite is also true as web traffic tends to fall when stores close. In one case, the share of web traffic across the markets where a store closed declined up to 77%.
- For emerging brands, defined as those less than 10 years old, new store openings drive an average 45% increase in web traffic following a store opening. For comparison, established retailers experience an average 36% boost in web traffic.
These findings confirm the direct correlation between a retailers’ physical and digital presence. When retailers invest in brick-and-mortar stores, their online presence thrives. The opposite is also true: closing stores causes a drop in the share of web traffic.
Furthermore, the study shows that not only do physical retail locations drive digital engagement, but also positively impact brand perception and help to attract new customers. Markets where retailers have a physical presence perform better on brand health metrics (including awareness, consumer perceptions, and willingness to recommend) compared with national benchmarks.
Today’s digitally empowered, high-maintenance consumer expects convenience and choices in how, when, and where they shop. They want an assortment of options to make purchases—aka omnichannel buying. However, physical stores remain the dominant method for building, growing, and sustaining brands.
Physical stores allow shoppers the ability to see, feel, taste, and truly experience a brand or product that they’re buying. Engagement and social connection in a physical store also play a vital role in the satisfaction level of the consumer and overall experience. Most importantly, physical stores allow retailers the unrivaled opportunity to interact with consumers and gain in-depth data and insight far beyond what online shopping could ever allow.
In the retail game, successful stores are marrying e-commerce and physical components, giving consumers purchasing options like click-and-collect, click-and-ship, and showroom models, enhancing the brick-and-mortar shopping experience and boosting sales at physical stores.
So much so that many once pure-play online retailers are moving into brick-and-mortar stores. E-commerce retailers plan to open 850 physical stores across the U.S. in the next five years. Many online brands have already started a push for physical stores, including Warby Parker, Rent The Runway, Glossier, Adore Me, Allbirds, even giants like Amazon and Wayfair are realizing the importance of a brick-and-mortar retail strategy. Both new and established brands are investing in stores and transforming clicks into bricks.
Brick-and-mortar stores should be a part of any retail strategy because they drive web traffic, improve brand health, and encourage in-store shopping. Still, retailers must continue to evolve to be successful and stay relevant in today’s fast-paced landscape. Retailers that provide more in their stores than the opportunity to make purchases will likely flourish—from the home improvement store that offers DIY workshops to the athletic store that offers simulated sporting games.
So, physical stores do matter—and the findings of this report confirm that. As e-commerce sales continue to grow year over year, those retailers that adapt and create a true multi-channel experience, leveraging both the assets of physical and digital, will come out on top.
Thank you to ICSC for compiling this insightful report. Hardcore data can’t be disputed. The retail apocalypse is over; let’s move on to the Renaissance!
To read the entire report, click here.
Stirling Properties Celebrates Groundbreaking of Dana Incorporated Service and Assembly Center in Slidell, Louisiana
Marks 1st of industrial expansion efforts in Fremaux mixed-use development.
Pictured L to R: Michael Unrein, Dave Hunt, Craig Nichols, Ed Greif, Mayor Greg Cromer, Parish President Pat Brister, Don Shea, Councilman Val Vanney, Councilman Kenny Tamborella, Councilwoman Leslie Denham, Debe Levis, Townsend Underhill
Stirling Properties and St. Tammany Parish community leaders celebrate the groundbreaking of the new Dana Incorporated (NYSE: DAN) Service and Assembly Center at Fremaux Park in Slidell, Louisiana. A formal turning-of-the-dirt ceremony was held with Honorable Pat Brister, St. Tammany Parish President; Honorable Greg Cromer, Mayor of Slidell; Ed Greif, General Manager of Off-highway for the Americas with Dana Incorporated; Don Shea, CEO of East St. Tammany Chamber of Commerce; and Townsend Underhill, President of Development with Stirling Properties. Fremaux Park is the mixed-use property surrounding the Fremaux Town Center retail development.
Stirling Properties is developing the nearly 32,000-square-foot industrial facility located at the corner of Town Center Parkway and Old Spanish Trail for Dana. The new site will house the relocation and expansion of its service and assembly center, which specializes in repairing and refurbishing large-scale industrial gearboxes. The company’s current operations in Slidell will transition to the larger facility to meet the growing demand for industrial gearbox service, repair, and refurbishment.
Construction on the site began in November and is expected to be completed in the summer of 2019. Bradley Cook, Sales & Leasing Executive with Stirling Properties, worked with the company to identify and secure the location.
Bradley Cook, Debe Levis, Marc Bourgeois, Billie Semmes, Townsend Underhill, Cher Levis Hunt, Dick Cyr, Patrick Malik
Dana is a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery. Dana supports the passenger vehicle, commercial truck, and off-highway markets, as well as industrial and stationary equipment applications. Founded in 1904, Dana employs more than 30,000 people in 33 countries on six continents.
“Dana in Slidell has a highly experienced team of service and repair professionals who are committed to meeting the needs of our customers,” said Dave Hunt, director of service and manufacturing operations for Dana Off-highway Drive and Motion Technologies. “This new facility will grow our service and repair business, while expanding our capabilities to manufacture gears on-site, reducing lead times for our customers.”
“A project of this scope—with projected growth to double in size and employment—this is a tremendous opportunity for Slidell and the entire parish,” said Greg Cromer, Mayor of Slidell. “Fremaux Park is a great development with retail, residential, and business all combined. It’s what we want to do—live, work, and play in one place. This is exactly how we want to grow our community, and this is how we are going to do it. We thank Dana for helping to lift up our community and becoming a good corporate partner, and we look forward to a long relationship with them.”
“I want to thank Dana Incorporated for choosing Slidell — and St. Tammany Parish, to locate this facility. We know you have a choice and we appreciate you choosing us. We look forward to the economic invigoration and diversity this facility will spur,” said Pat Brister, St. Tammany Parish President. “We appreciate the upcoming employment opportunities for our educated and ready workforce. We look forward to a good working relationship with Dana.”
“Stirling Properties is thrilled to welcome Dana to Fremaux Park and celebrate the groundbreaking of this site,” said Townsend Underhill, President of Development with Stirling Properties. “This is a huge economic win for Slidell and the surrounding greater New Orleans region. Dana is a world-wide company with a global footprint. This new facility will be a unique operation nationally—and the building was designed with ample flex space to allow for future expansion. We look forward to working with Dana and having them as an anchor tenant in the Fremaux Park development.”
Fremaux Park is part of the roughly 350-acre regional mixed-use development located at the southwest corner of Interstate 10 and Fremaux Avenue in Slidell, Louisiana. It includes Retreat at Fremaux Town Center’s 296 luxury residential apartment units, Saltgrass Steak House (coming soon), and Springhill Suites by Marriott soon under construction. Additional phases are coming soon with added residential, retail, industrial, and office park. The adjoining Fremaux Town Center, anchored by Dillard’s, Dick’s Sporting Goods, Kohl’s, and Best Buy, includes more than 640,000 square feet of retail and restaurant options.
For leasing or sales information, contact Ryan Pécot at 337.572.0246 / rpecot@stirlingprop.com or Bradley Cook at 985.246.3720 / bcook@stirlingprop.com.
