Whole Foods Market coming to Stirling Properties’ Premier Centre in Mandeville, La.
First Whole Foods Market location for Northshore New Orleans
Stirling Properties announces the addition of Whole Foods Market® to the tenant lineup at Premier Centre, a 273,000-square-foot shopping center near the intersection of U.S. Highway 190 and North Causeway Boulevard in Mandeville, Louisiana.
The approximately 40,000-square-foot Whole Foods Market store, the first for Northshore of New Orleans, will offer customers a large selection of natural and organic products with features tailored to the local Louisiana community.
“We are excited to bring such an in-demand, high-caliber retailer to the Northshore community,” said Donna Taylor, Stirling Properties’ Senior Vice President of Asset Management and New Business. “Whole Foods Market is a welcome addition to Premier Centre and will be a regional draw for the city of Mandeville.”
“On behalf of the city of Mandeville, we welcome the announcement that Whole Foods will be locating in Mandeville,” Mandeville Mayor Donald Villere said. “As mayor I have had requests for years to get Whole Foods to become a part of the city. I believe their opening will be the start of a long lasting relationship with the citizens of Mandeville.”
Whole Foods Market, projected to open in the first quarter of 2016, will be located in a portion of the space currently occupied by Albertsons. Twenty thousand square feet of adjacent space is available for lease. Premier Centre is situated in the heart of the Mandeville community on the Northshore of Lake Pontchartrain in St. Tammany Parish. This center has maintained 100 percent occupancy since opening in 1998, and sales per square foot are well above average for the national tenants in the center. Whole Foods Market joins Stein Mart, Bed Bath & Beyond, T.J.Maxx, Barnes & Noble, Old Navy and many other national retailers.
For more information, email dtaylor@stirlingprop.com or call (985) 898-2022.
For information about the adjacent 20,000 square feet available for lease email rsharkawy@stirlingprop.com or call (985) 898-2022.
Stirling Properties and CBL & Associates Properties, Inc. to Commence Construction on Ambassador Town Center in Lafayette, Louisiana
Development over 90% Leased Prior to Construction Start
Stirling Properties and CBL & Associates Properties, Inc. (NYSE: CBL) announced today a joint venture to develop Ambassador Town Center in Lafayette, Louisiana. The approximately 58-acre site is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. The retail center will be built in one phase and will be approximately 425,000 square feet with major retailers including Costco Wholesale, Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread and Freddy’s Frozen Custard & Steakburgers. The majority of the retailers committed to the project are either first-time locations within Lafayette or Louisiana, or both. Construction is set to begin this month, with a projected opening of March 2016.
“Stirling Properties is excited about our partnership with CBL to develop Ambassador Town Center and believes that this joint venture brings the best possible team together to build this project,” said Stirling Properties’ Senior Vice President of Development Townsend Underhill. “We know this site to be an excellent location for a retail development in this market and we are happy to continue our long and successful development history in the City of Lafayette.”
“Ambassador Town Center is well-located and is well leased with an outstanding retail line-up,” said Michael Lebovitz, CBL’s Executive Vice President – Development and Administration. “We are pleased to partner with Stirling Properties on this project and are looking forward to announcing additional retailers as the development progresses.”
Ambassador Town Center is expected to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the City of Lafayette.
“This project is a sign of Lafayette’s strong economy and our willingness to work with the private sector for needed infrastructure in our community,” stated Joey Durel, Lafayette City-Parish President. “Retailers like those that have committed will be a regional draw for Lafayette, and the public infrastructure that will be built with this project, providing a route parallel to Ambassador Caffery, is necessary for one of the fastest growing areas in the state of Louisiana. Companies make decisions on where to locate based on long-term projections. This decision says that they have confidence in the future of our area.”
Public infrastructure improvements are being funded through a payment in lieu of tax arrangement (PILOT), which includes a new connection between Frem Boustany Road and Kaliste Saloom Road and multiple improvements to the existing road system. Under the arrangement, The Industrial Development Board for Lafayette Parish has agreed to allocate a significant portion of the property taxes that will be created by the development of this project, for a period of up to 12 years, to build the public infrastructure.
For leasing information, please contact: Ryan Pecot, 337.572.0246 or rpecot@stirlingprop.com, or Rodney Gordon, 423.553.8704 or rodney_gordon@cblproperties.com.
Stirling Properties Welcomes Mike Bucher to the Development Team
Stirling Properties is pleased to announce the addition of Mike Bucher as Development Director.
As Development Director, Mr. Bucher will lead new and on-going development projects, including ground-up development, redevelopment and joint ventures. Based in the Covington office, he will plan, coordinate and direct personnel relating to Development and Redevelopment.
“Mike’s extensive background in Development will play a significant role in Stirling Properties’ continued expansion of our services across the Gulf South. We are ecstatic to be able to bring someone of Mike’s caliber onboard,” stated Townsend Underhill, Senior Vice President of Development.
Mr. Bucher was previously with Federal Realty Investment Trust in Boston, MA, where he worked as a Development Associate and previously as a Development Financial Analyst.
Mike Bucher can be reached at 985-898-2022.
President’s Message: Alibaba and the Sales Tax Thieves
Over the last year and a half, I have written several messages about the pressing need for passage of the Marketplace Fairness Act. In those messages, I have cited numerous reasons including:
- To level the playing field.
- The government shouldn’t be choosing winners and losers by providing unfair tax advantages to some.
- The taxes are owed so this is not a new tax – just a loophole in the law (which over 98% of people don’t choose to pay).
- Lost sales tax revenues are crippling our state and local governments who depend on this revenue and this will only get worse unless this trend is reversed – either services will be cut or taxes will be raised in other ways.
Now, you can add yet another reason to the list – Alibaba (a Chinese company larger than Amazon and eBay combined) – recently launched the largest IPO in Wall Street history. The current loophole in the internet sales tax law will allow foreign companies, like Alibaba, to unfairly compete with our U.S. retailers who employ people here, pay taxes here, and have brick and mortar presence here. That is unfair. Watch the latest commercial that is now being run by the Alliance for Main Street Fairness.
Recently, I was in Washington, D.C. with a small group of CEOs representing the International Council of Shopping Centers. We met with key members of Congress to urge them to pass Efairness legislation. This ICSC article offers more details about our meetings.
The good news is that they are listening, but we need to continue to have our voices heard. This link offers an easy method to take action by phone, email or tweet. I encourage you to contact your members of Congress today.
Stirling Properties Opens New Office in Pensacola, Florida, To Further Expand Gulf South Presence
Stirling Properties is pleased to announce the opening of a new office in Pensacola, Florida, in SunTrust Tower at 220 West Garden Street, Suite 802. As the company’s first location in Florida, the office joins 12 other offices located in Louisiana, Mississippi and Alabama to further strengthen Stirling Properties’ presence in the Gulf South. Will Barrois, Vice President and Regional Manager of Alabama/Florida, oversees all business development throughout the region.
“Stirling’s expansion into the Panhandle of Florida is yet another important step in the long-term strategic plan of servicing the entire Gulf Coast market,” stated Marty Mayer, President and CEO of Stirling Properties.
Stirling Properties will continue to handle the full-time management and leasing of SunTrust Tower. The 9-story, 95,000 square-foot office tower has been the premier office address in the downtown market for 40 years. Jason Scott, Senior Sales and Leasing Executive/Property Manager, transferred from Stirling’s Mobile office to the Pensacola office, where he will oversee the management and leasing of SunTrust Tower. Holding a broker’s license in both Alabama and Florida, Mr. Scott will also be responsible for expanding third party brokerage and management opportunities in Northwest Florida. With over 35 years’ experience in commercial real estate, Mr. Scott began his career in Pensacola and is excited to be part of Stirling’s expansion into Florida.
“Handling the management and leasing of SunTrust Tower gives us a great opportunity to expand Stirling’s footprint into the Florida Panhandle,” stated Will Barrois. “We are looking forward to serving our existing clients and expanding the full complement of property management, brokerage, acquisitions and development from our new Pensacola office.”
For your commercial real estate needs in Florida, contact Stirling Properties at the new office located at 220 West Garden Street, Suite 802, Pensacola, Florida, or call (850) 418-6792.
Pan-American Life Insurance Group Renews Poydras Street Lease and Reaffirms Commitment to New Orleans
Stirling Properties and Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services throughout the Americas, announced this morning that they have renewed the lease on their 601 Poydras Street corporate headquarters office space through 2024.
“601 Poydras has been home to Pan-American Life’s corporate headquarters since 1981,” explained José S. Suquet, Chairman of the Board, President and CEO of Pan-American Life Insurance Group. “And while our business has grown to include operations all over the Americas, New Orleans remains an essential cornerstone of our corporate identity as well as our business strategy.”
The lease renewal is a reflection of Pan-American Life’s commitment to the city in which it was founded, more than 100 years ago. “We strive to have a positive impact on all the communities that we serve and that’s especially important here in our home city whether it is by creating Louisiana based jobs through our domestic business or being a socially responsible corporate citizen,” Suquet added. “You can see through our partnerships with the Louisiana Philharmonic Orchestra; United Way; and the Hispanic Heritage Foundation, that we are dedicated to investing in the arts, education, community development and public safety thereby making significant contributions to the growth of New Orleans and the wellbeing of all its residents.”
“Pan-American Life’s renewed lease of their headquarters is further testament of the commitment they have to the City of New Orleans,” stated Marty Mayer, President and CEO of Stirling Properties. “Stirling Properties is proud to have worked with them as we continue to expand and increase the tenancy at Pan-American Life Center.”
Pan-American Life will also retain the building’s naming rights, ensuring that the Pan-American Life Center will continue to be a landmark in the Central Business District.
