GNO, Inc. awarded the Mac Conway Award for Excellence in Economic Development by Site Selection Magazine
Site Selection Magazine awarded Greater New Orleans, Inc. (GNO, Inc.) the Mac Conway Award for Excellence in Economic Development. The Mac Conway Award for Excellence in Economic Development recognizes the top economic development agencies of the previous year in both metropolitan and micropolitan areas. The criteria used to select the recipients includes the total number of jobs created and the total amount invested as well as per capita investment and jobs created in the region. Site Selection also looks at unique ways economic development organizations are addressing critical issues in their communities.
A few of GNO, Inc. and the Greater New Orleans area successes:
- $4 billion in capital investments in 2015
- 1,988 new jobs created in 2015
- Knowledge industry jobs grew 37% in 2015
Congratulations to GNO Inc. for this prestigious and well- deserved honor! This award is yet another testament to the level of economic development, job creation and investment occurring in our 10-parish region.
GNO, Inc. was recognized along with 10 other groups in the nation. To see all the EDOs recognized, please read Site Selection’s article.
Mobile Office Market Assessment 1st Quarter 2016
Stirling Properties is pleased to present the 2016 first quarter Mobile Office Market Survey. This report, compiled by Jack Conger and Jill Meeks, Sales and Leasing Executives of our Mobile office, is intended to track the direction of the office market by establishing an absorption rate, a market occupancy rate and an average rental rate for West Mobile and the downtown Central Business District (CBD) on office buildings greater than 20,000 square feet. It was created to be a resource for agents, as well as tenants, landlords, developers, lenders, fellow brokers and anyone else looking for information about the Mobile Office market.
Jack Conger is our newest Sales and Leasing Executive in our Mobile office, focusing on industrial and office brokerage. Jill Meeks has over 27 years’ experience in commercial real estate.
Here’s an excerpt from Jack and Jill’s Market Assessment:
Since the Q3-15 survey, the office buildings surveyed in this report in West Mobile experienced a very modest increase in average occupancy rate from 80% to 80.1%, and the average rental rate decreased from $15.61 to $15.45/per square foot. West Mobile has a fair amount of older, unimproved office space available at below-market rental rates that contributes to low rental rates. We have seen several new Healthcare related expansions in West Mobile and expect that this trend will continue around the hospital campus.
In the CBD, there was a decrease in the occupancy rate from approximately 72% to 65.9%, and average rental rates decreased from $17.42 to $17.29/per square foot. The decrease in the occupancy rate is due in part to a few notable transactions: Regions Bank’s consolidation of its St. Francis Street and Water Street branches, Servis1st Bank’s relocation to the redeveloped Phelps Dunbar office at Royal and Dauphin Street, and lastly, BBVA Compass Bank and Phelps Dunbar’s move into RSA’s recently completed Van Antwerp renovation.
Overall leasing activity in updated CBD office buildings continue to be solid, along with demand for smaller renovated historic properties.
Please click here to view and download the PDF of the Mobile Office Market Survey. This survey provides a good summary of the Mobile office market and my hope is that it becomes a valuable resource in the market.
Stirling Properties Brokers Sale Of 16.1 Acres For Walmart Supercenter In Carencro, Louisiana
Carencro will soon have a WalMart Supercenter! Stirling Properties commercial real estate company has brokered the sale of 16.142 acres to Wal-Mart Real Estate Business Trust for the development of a WalMart Supercenter. The 182,000-square-foot store is expected to hire up to 300 workers.
The soon-to-be supercenter will be located at 3810 NE Evangeline Thruway in Carencro, South Louisiana, near the northwest corner of Interstate 10 and Interstate 49 intersection, just outside the City of Lafayette.
Ground was broken earlier this month, with anticipated opening in early 2017.
Stirling Properties Sales and Leasing Executive, Seth Citron and Senior Retail Leasing and Development Executive, Ryan Pécot handled the transaction.
“We are excited to be a part of the growing community in Carencro. Residents here have anxiously awaited the arrival of a WalMart, and now they are finally getting it,” said Seth Citron, Stirling Properties Sales and Leasing Executive. “Stirling Properties is happy to continue our long and successful relationship and brokerage history in South Louisiana and surrounding areas.”
Since 2011, Stirling Properties has handled 2,255 transactions, with $1.3 billion in commercial sales volume, and currently has more than 81 million square feet of property and land for sale or lease, almost exclusively in Louisiana. Stirling Properties management and development projects in the Lafayette area include Ambassador Town Center, Ambassador Row, Stirling Lafayette, Village at Southpark, Retreat at Acadian Point and Pinhook Office Center, just to name a few.
Stirling Properties is located in Pinhook Office Center at 1819 West Pinhook Road, Suite 200 in Lafayette, Louisiana. For more information regarding our services, please visit us at stirlingproperties.com.
Stirling Properties Welcomes 1st Northshore Sephora and Announces Updates to River Chase in Covington, Louisiana
Stirling Properties commercial real estate company is pleased to welcome the 1st Sephora to Northshore New Orleans, and announces new updates to River Chase mixed-use development in Covington, Louisiana. 
- The popular national beauty-retail chain, Sephora, will occupy 2,100 square feet inside JCPenney department store. Utilizing a smaller footprint, the retail chain will feature the signature Sephora look and beauty assortment. This will mark the fifth Sephora location in Louisiana, and the first for the Northshore. A grand opening is scheduled for June 17th.
- Pre-leasing opportunities have begun for Phase 1 of the Offices at River Chase, a new Class-A office building that will be located at the southwest corner of Brewster Road and Stirling Blvd. The site is now being cleared, and construction of the first 45,000-square-foot, two-story office building is anticipated to begin in the summer of 2016, with initial tenant occupancies planned for 10 to 12 months later.
- Site work has commenced on the new 36,000-square-foot Rooms-To-Go next to Zoe’s Kitchen. The furniture retailer is relocating from its current store on Hwy. 190 in Covington, and is on track to open in the first quarter of 2017.
- Construction has begun on Springs at River Chase, through a joint venture with Continental Properties. The new 296-unit luxury apartment community will be located at the southwest corner of Interstate 12 and Brewster Road. The property will feature floor plans ranging from studio to three-bedroom, and community amenities will include a clubhouse, resort-style pool, 24-hour fitness center, dog park, attached and detached garages, car care center and a pet spa. The first units will be available in August 2016, with anticipated fully built out completion in first quarter, 2017.
- Plans are also underway for the development of 182 single-family luxury homes, adjacent to Springs at River Chase apartment community, through a joint venture with Southern Lifestyle Development. Phase I will include the completion of 81 luxury homes.
- Salon by InStyle is open inside JCPenney, as part of an exclusive collaboration with the editors of InStyle magazine to reinvent its salons nationwide. The new concept salon features the latest in haircare, styling and products. A grand re-opening was held last week.
- Five Below, a new-to-market bargain retailer, which sells everything for $5 or less, celebrated its grand opening earlier this month. This is one of only three stores located in Louisiana.
River Chase is the premier mixed-use development on the Northshore, located amidst 253 acres of prime interstate property adjacent to the Tchefuncte River, with direct access to Interstate 12 via two interchanges that bound the eastern and western borders of the development and Louisiana Highway 21. The center includes retail, restaurants and entertainment options, as well as a Holiday Inn Express, 14-screen stadium style Regal Cinema and residential apartment units. Additional residential and office developments are coming soon. Anchored by Target, Belk, JCPenney, Best Buy, Marshalls, Ross Dress For Less and Sam’s Club, River Chase shopping center occupies 945,000 square feet, and is the largest open air retail center in Louisiana. River Chase continues to be a leading regional shopping and restaurant destination, as well as a vital economic contributor to the region. Additional tenants include John V Salon & Spa, Carter’s, Cato, Charming Charlie, Chuck E. Cheese’s, Cost Plus World Market, Dickey’s Barbecue Pit, Family Cuts, Fidelity Homestead Savings Bank, Five Below, GameStop, Hibbett Sports, Holiday Inn Express, In Style Salon, Justice, Lane Bryant, Maurices, Men’s Wearhouse, Michaels, Nevada Bob’s Golf, Oreck Vacuums, Pink & White Nails, Regal Cinemas, River Chase Cleaners, rue 21, Sephora (open July 2016), Shoe Carnival, The Children’s Place, ULTA Beauty, Verizon Wireless, Which Wich and Zoe’s Kitchen. Outparcel tenants include Chick-fil-A, LongHorn Steakhouse, Regions Bank, Taco Bell, Texaco and Wendy’s. “Stirling Properties has been at the forefront of commercial real estate investment and development in St. Tammany Parish and surrounding areas of South Louisiana. We were instrumental in bringing large-scale retailers here,” said Townsend Underhill, Stirling Properties Senior Vice President of Development. “St. Tammany remains one of our most important areas and we are proud to call the parish home to our Corporate Office.” Stirling Properties developed River Chase, with Phase I beginning in 2002, and currently holds the contract for management and leasing of the center. Stirling Properties has developed more than 3.7 million square feet totaling $465 million since 2010, and manages nearly 17 million square feet of property, almost exclusively in Louisiana. Other Stirling Properties management and development projects in St. Tammany Parish include Fremaux Town Center (Slidell), Stirling Slidell, The Crossing (Slidell), Premier Centre (Mandeville) and Northpark Corporate Center (Covington), just to name a few. Stirling Properties was also influential in creating supporting infrastructure, such as the I-12 corridor connecting River Chase and Brewster Road to Hwy. 21 in Covington. For more information, please visit stirlingproperties.com. For information on River Chase, visit river-chase.com. For retail leasing and sales, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com. For office leasing and sales, contact Ryan Murphy at (985) 246-3771 or rmurphy@stirlingprop.com.
Stirling Properties Commercial Real Estate Agents Among Top Producers At Annual NOMAR CID Awards Ceremony
Stirling Properties commercial real estate agents were honored during the New Orleans Metropolitan Association of Realtors (NOMAR) Commercial Investment Division (CID) 23rd Annual Achievement Awards ceremony, held Friday, April 8th at the Audubon Tea Room.
Chris Abadie, Rhonda Sharkawy, Gaines Seaman
Leading the way was Rhonda Sharkawy, Senior Retail Leasing and Development Executive, with more than $28 million in sales volume for 2015. Sharkawy was inducted into the CID Hall of Fame after having received the prestigious F. Poche Waguespack Award for highest volume of sales and leases in the greater New Orleans area for the last five consecutive years. She is one of only a handful of women to receive this esteemed award since its inception in 1964.
Gaines Seaman, Sales and Leasing Executive, received the Overall Top Landlord Office Lease, Top Tenant Rep Office Lease and the Overall Top Office Producer, with nearly $19 million in production for 2015.
Joe Gardner, Sales and Leasing Executive, Beezie Landry, Senior Investment Sales Advisor, Sharkawy and Seaman were also among Achievement Award recipients, for obtaining total commercial credit sales and leasing in excess of $2.5 million.
The goal of the Commercial Investment Division (CID) Awards is to review and recognize individual achievement among commercial real estate practitioners who are members in good standing of the New Orleans Metropolitan Association (NOMAR) of REALTORS®.
Stirling Properties Awarded Management Contract For Fern Marketplace In Shreveport, Louisiana
Stirling Properties commercial real estate company was recently awarded the management contract for Fern Marketplace in Shreveport, Louisiana. Stirling Properties handles leasing opportunities for the center and will now take on daily management.
Fern Marketplace is a 29-acre retail project anchored by Whole Foods Market, consisting of roughly 275,000 square feet. The shopping center is located at the northeast corner of East 70th Street and Fern Avenue, near the intersection of Youree Drive, which is the most heavily populated corridor of retail and services in Shreveport and Northern Louisiana. National retailers located within one mile of this center include Super Target, Belk, Bed Bath & Beyond, Old Navy, JCPenney, Kohl’s, Dick’s Sporting Goods, Barnes & Noble, Lowe’s, Cost Plus, World Market, T.J.Maxx, and Sam’s Club, just to name a few. The area growth rate, high income level and location will be sure to allow the tenants at Fern Marketplace to experience substantial retail sales. Most of the retailers committed to Fern Marketplace are either first-time locations within Shreveport or Louisiana, or both.
Currently, the only business open at the shopping center is GRUB Burger, which opened in January of this year marking its second Louisiana location. Whole Foods Market is scheduled to open in the Fall of 2016. This will be the sixth Louisiana location for the organic food chain store.
Fern Marketplace Phase I consists of roughly 75,000 square feet and tenants include Grub Burger (now open), Lee Nails (opening Spring 2016), Whole Foods Market (opening Fall 2016) and much of the remaining square footage is in different stages of negotiation with announcements to occur over the coming months. Phase II consists of roughly 200,000 square feet of which various type uses will add to the mix of the first phase.
“We are confident in the future and prosperity of this area. Fern Marketplace is positioned in an excellent location that is experiencing tremendous growth and attracting new retailers,” said Donna Taylor, Stirling Properties Senior Vice President-Asset Management & New Business. “We are happy to continue our long and successful brokerage and property management history in the Shreveport/Bossier City market.”
Stirling Properties has been at the forefront of commercial real estate management, investment and development in Shreveport/Bossier City and surrounding areas of North Louisiana, and is committed to bringing quality development and retailers to the area. At completion, Fern Marketplace is expected to be a premier regional shopping and entertainment destination, as well as a vital economic contributor to the area.
Stirling Properties currently manages almost 17 million square feet of property, with 81 million square feet of property and land for sale or lease, almost exclusively in Louisiana. Other Stirling Properties management and development projects in Shreveport/Bossier City include, Stirling Bossier Shopping Center, Eastgate Shopping Center and Old River Marketplace, just to name a few.
For more information, please visit stirlingprop.com.
For leasing or sales information, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com. For asset management information, contact Donna Taylor at (985) 898-2022 or dtaylor@stirlingprop.com.
