Stirling Properties’ Commercial Agents Among Top Industry Producers In the Greater New Orleans Area
Stirling Properties commercial real estate agents were recently honored for outstanding industry achievements and transactions during the New Orleans Metropolitan Association of REALTORS® (NOMAR) Commercial Investment Division’s (CID) Annual Achievement Awards virtual ceremony.
Rhonda Sharkawy
Rhonda Sharkawy, Senior Retail Leasing & Development Advisor, was awarded top Retail Broker of the Year for the greater New Orleans area with a sales and leasing volume of more than $45 million in 2019.
Saban Sellers
Saban Sellers, Investment Advisor-Multifamily, was named top Multi Family Broker of the Year with a sales and leasing volume of more than $16 million in 2019. He was also awarded Land Broker of the Year with a total credit volume of $4.3 million. Sellers also received honors for top Land Lease of the Year and Multi Family Sale of the Year.
Carly Plotkin, Advisor, received the award for Retail Lease of the Year. Ryan Murphy, Senior Advisor, and Bradley Cook, Advisor, were the recipients of the Office Sale of the Year award.
Melissa Warren, CCIM, Senior Advisor, Lee de la Houssaye, Senior Advisor, and Bradley Cook, Advisor, were among Silver Production Award recipients for obtaining total commercial credit sales and leasing from $2.5 – $4.9 million.
Carly Plotkin and Ryan Murphy received the Gold Production Award for commercial credit sales and leasing from $5 – $9.9 million.
Rhonda Sharkawy and Saban Sellers were awarded Diamond Production Awards for total commercial sales and leasing volume of over $15 million.
With 53 agents and nine offices spanning the Gulf South region, Stirling Properties’ brokerage team specializes in all aspects of commercial real estate, including retail, office, industrial, healthcare and multifamily sectors. In 2019, our commercial brokers completed 787 transactions totaling 6.9 million square feet, with a total commercial volume of over $555 million.
Stirling Properties Announces Grand Opening of Chipotle at Hammond Square in Hammond, Louisiana
Shopping center nearing completion of multi-tenant retail redevelopment project.
Stirling Properties announces Chipotle Mexican Grill will celebrate its grand opening at Hammond Square shopping center on Thursday, August 27th. An official (socially distanced) grand opening and ribbon-cutting ceremony will be held in partnership with the Greater Hammond Chamber of Commerce.
The new fast-casual restaurant specializes in build-your-own tacos, burritos, salads and bowls, and will feature a Chipotlane, the brand’s drive-thru mobile/digital order pick-up lane, where customers can retrieve pre-placed orders without leaving their car. Chipotle will be located on Hammond Square Drive near the entrance to the shopping center.
Five Guys restaurant will also occupy 2,450 square feet of space right next door to Chipotle and is expected to open in early October of this year.
Stirling Properties commercial real estate company is nearing completion on the $15 million multi-tenant redevelopment project at Hammond Square. Demolition of the former Sears and Rite Aid buildings was completed last year to make way for the new retailers.
Five Below and PetSmart opened in the shopping center earlier this year. Michaels, HomeGoods and Walk-On’s Sports Bistreaux are also expected to join the tenant lineup with projected opening dates to be announced.
Rhonda Sharkawy, Senior Retail Leasing & Development Advisor with Stirling Properties, handled the lease transactions on behalf of the landlord.
Hammond Square is Tangipahoa Parish’s premier shopping destination, located on approximately 100 acres at the northwest corner of Interstate 12 and US Highway 51 Business (SW Railroad Avenue) in Hammond, Louisiana. It is the 2nd largest open-air center in Louisiana encompassing over 852,000-square-feet of more than 40 national and local retailers, shops and restaurants, including Dillard’s, Target, The Home Depot, JCPenney, Academy Sports+Outdoors, Best Buy, T.J.Maxx, ULTA Beauty, Books-A-Million and AMC Theatres. Stirling Properties redeveloped Hammond Square and currently manages and leases the center.
For more information on Hammond Square, visit www.hammondsquare.com or facebook.com/hammondsquare. For leasing and sales information, contact Rhonda Sharkawy at (504) 620-8145 or rsharkawy@stirlingprop.com.
New Tom Thumb Development Planned for The Wharf in Orange Beach, Alabama
Rendering courtesy of Stirling Properties/LK Architecture
Stirling Properties announces a new Tom Thumb development planned for The Wharf mixed-use property in Orange Beach, Alabama.
Tom Thumb recently purchased 3.94 acres of land located at the intersection of Canal Road and Wharf Parkway East in Orange Beach for the development of a Tom Thumb convenience store, gas pumps and car wash. Other planned improvements for the property will also incorporate a Burger King and Cinnabon. Construction is expected to commence soon.
Jeff Barnes, CCIM, Senior Advisor with Stirling Properties, represented the seller in the transaction. Lydia Franz, with Re/Max of Orange Beach, represented Tom Thumb.
Positioned on 222 acres along the south side of the Intracoastal Waterway in Orange Beach, Alabama, The Wharf is one of the most dynamic and inviting mixed-use destinations along the Gulf Coast. Consisting of more than 380,000 square feet of commercial lease space, the current mix of tenants includes retail shopping, entertainment, bar and restaurant options, office and professional services, a 15-screen movie theater, a 10,000-seat amphitheater, a 112′ Ferris wheel, residential condominiums, convention space, meeting facilities, a 170-slip marina, and a 132-room SpringHill Suites by Marriott. Sites and land for additional development and build-to-suit also exist.
For information about available real estate at The Wharf, contact Jeff Barnes, CCIM at (251) 375-2496 or jbarnes@stirlingprop.com.
Stirling Properties Awarded Management & Brokerage Assignment for BB&T Building in Foley, AL
Renovations & exterior updates planned for the office/retail space.
Stirling Properties commercial real estate company was recently awarded the exclusive property management and brokerage assignment for the BB&T Building located at 200 West Laurel Avenue in Foley, AL.
The 21,403-square-foot building is positioned in downtown Foley’s historic business district, one block west of the intersection of Highway 59 and Highway 98. It is anchored by BB&T Bank.
Stirling Properties is working with the property owner on renovations to the building, including modifications and modernization of the interior to convert the former bank lobby into a flexible work/event space. It is anticipated that the second-floor former bank office will be a single office user or divided into smaller office suites. Other plans include the redesign of the landscaped area facing the intersection of West Laurel and South Alston Streets to create an outdoor plaza with seating.
Stirling Properties’ commercial advisors Amanda Goldman and Jason Scott are the leasing agents for the property and are working to fill the remaining office and retail space. Approximately 16,000 square feet of space is available for lease on the upper and lower levels.
“We are thrilled to be involved in the management and leasing of the BB&T Building. It’s a beautiful property offering prime commercial space in a high-growth area of Foley,” said Goldman. “This building will continue to play a vital role in downtown Foley’s live, work, play environment. Stay tuned for updates on renovations and the upcoming open-house to be announced soon.”
Stirling Properties is located at One St. Louis Centre, 1 St. Louis Street, Suite 4100 in Mobile, Alabama, and 220 West Garden St., Suite 802 in Pensacola, Florida. The company manages more than 20 million square feet of commercial property across the Gulf South region, including office, retail, industrial, medical, multifamily and mixed-use real estate assets.
For leasing information, contact Amanda Goldman at agoldman@stirlingprop.com / 251-375-2490 or Jason Scott at jscott@stirlingprop.com / 850-418-6792.
For asset & property management information, contact Robin Hayles at rhayles@stirlingprop.com or (251) 342-7229.
Studer Community Institute (SCI) Building Awarded NAIOP 2019 Rehab/Repurpose Development of the Year
Stirling Properties serves as Property Manager & Broker for the iconic office tower in Pensacola, FL.
The Northwest Florida Chapter of NAIOP, the Commercial Real Estate Development Association, recently presented its 2019 Rehab/Repurpose Development of the Year Award to the Studer Community Institute (SCI) Building in downtown Pensacola, Florida. Home of Studer Community Institute, the SCI Building has completed a dynamic renovation project that includes an upgraded exterior, enhanced common areas, and the addition of a café. Stirling Properties, which provides third-party property management and brokerage services at SCI, submitted the entry on behalf of the owner.
The award-winning project was the redevelopment of the former SunTrust Tower, an iconic 10-story, 96,300-square-foot office building. Having managed and leased the property since 2006, Stirling Properties helped facilitate the sale of the building in 2017 to Quint and Rishy Studer and continued management and leasing assignments under the new ownership.
Built in 1974, the tower’s geometrically shaped structure, outdated building systems and location on the periphery of Pensacola’s CBD presented leasing challenges (nearly 50% vacancy) for the new owners against the changing dynamics of the office market.
Over the course of the 14-month renovation, critical building systems such as HVAC, life safety, elevators and electrical were replaced, as well as upgrades to the roof, common areas, corridors and restrooms. While most of the building remained a multi-tenant office tower, the goal was to build on the uniqueness of the architecture by repurposing the 1st floor and outdoor plaza into a shared community space. These plans centered around the owner’s intent to convert the building into a community center focused on creating dialogue, hosting speaking engagements and events, and creating an open public space for citizens to meet and enjoy downtown Pensacola.
All existing tenants remained in place during construction. To cause as little business disruption as possible, the Property Manager and the General Contractor had to coordinate work on a case by case basis around tenant meeting schedules.
The new SCI Building provides tenants (both former and new) with an enhanced sense of place and ample added amenities. The redevelopment project also fills a niche in the local office product type. It has become a sort of incubator, opening the door for other planned mixed-use projects in the area.
The transformation of the property, along with Stirling Properties’ combined property management and leasing efforts have resulted in improved tenant satisfaction—all tenants have remained, with most having renewed their leases. The building is now at 95% occupancy.
Over the past several months, the University of West Florida’s Center for Cybersecurity has moved from its campus location into 9,948 square feet (SF) of office space at the SCI Building, and Pen Air Federal Credit Union occupied another 3,828 SF in the Atrium. The global engineering firm of Mott MacDonald has renewed its lease and expanded its footprint by 4,364 SF for a total of 21,617 SF. SunTrust Bank’s (now Truist after a merger with BB&T) commercial lending group has occupied 4,406 SF. Most recently, we welcomed the law offices of Morgan & Morgan, which leased 9,432 SF of space on the top floor, and Berkeley Research Group, a global corporate consulting firm, recently signed a lease on 2,305 SF. Stirling Properties’ commercial advisor, Jason Scott, represented the landlord in these lease transactions.
With a full tenant roster, there is little doubt that the building is not only an upgraded version of itself but is now a place where the community can gather—where ideas are formed and implemented.
Congratulations to the Studer Community Institute for this esteemed honor and your leadership and vision in the Pensacola community and surrounding region.
For more information on Stirling Properties’ leasing and property management services, contact Jason Scott at jscott@stirlingprop.com or (850) 418-6792.
Major Renovations Coming to Pan American Life Center in New Orleans’s CBD
Pan American Life Center Lobby Rendering
New cafe and food options, state-of-the-art conference center and upgraded lobby.
Stirling Properties announces major renovations to the Pan American Life Center, a 673,000-square-foot premier office building located at the corner of Poydras Street and St. Charles Avenue in New Orleans, Louisiana. Construction is currently underway for a $7 million redevelopment project that will include a renovated café, state-of-the-art conference center and upgraded ground floor lobby to better position the building in the evolving office landscape. The café and conference center will continue to be managed by Sodexo.
The café-style restaurant will be located on the 11th floor, offering professional food service and enhanced menu options for building tenants, users of the conference center and surrounding customers. The renovation work on the 11th floor will feature a modernized dining area, upgraded furniture, new flooring, LED lighting and an exciting new menu. Construction began in early January and is expected to be complete in the summer of 2020.
Pan American Life Center Cafe Rendering
During the renovation, the existing café is closed; however, a new Café Micro Market has been opened in the lobby on the first floor adjacent to Smoothie King. The Micro Market is open daily, offering hot menu items such as breakfast, soups, salads, grab-and-go sandwiches and gourmet entrees.
A modern state-of-the-art conference center will be constructed on the 11th floor featuring high-tech audio/visual equipment, a tiered-seating auditorium and a variety of attractive catering packages. Following national trends of space utilization and the desire for open, collaborative work environments and flexible seating arrangements, the new conference center will offer multi-purpose meeting space available in various sizes and configurations. Conference room reservations are expected to begin in the second quarter, with the re-opening of the conference center early in the third quarter.
Renovations to the main lobby and building entrance began late last year and are nearing completion. Upgrades include a modernized, inviting lobby with brighter wall finishes, new furniture, LED lighting, renovated restrooms and installation of an electronic directory. Renovation work is expected to be complete just in time for Mardi Gras festivities.
“The renovations underway at the Pan American Life Center will uniquely position the office tower as one of a kind in the New Orleans CBD, offering new and improved amenities for existing and future tenants. These building enhancements will make our workplace more enjoyable, and also attractive in recruiting and retaining employees,” said Jose S. Suquet, Chairman of the Board, President & CEO of Pan-American Life Insurance Group.
“IBERIABANK is looking forward to the upgrades coming to the Pan American Life Center. As a major occupant of the building, we know that these improved amenities, along with the enhanced co-working and common areas, will be a huge benefit to the tenants, our existing and future workforce, and our customers,” said Hunter Hill, New Orleans Market President for IBERIABANK.
“Stirling Properties recognizes the changing office environment. Users want more collaborative, open floor plans, ample amenities and innovative trophy projects. These trends in the commercial industry increase the need for more curated properties,” said Grady Brame, Executive Vice President with Stirling Properties. “This renovation will better position the Pan American Life Center for long-term sustainability. It’s an investment in the future workplace that will make our building more attractive and functional for current tenants and new prospects.”
Pan American Life Center is recognized as one of New Orleans’ most prestigious office towers, boasting high-quality tenants in addition to housing the national and regional headquarters of many premier corporations. Built in 1980, the granite-clad, Class A trophy tower encompasses roughly 673,000 square feet of office and retail space, as well as an eight-story parking structure. Office tenants include Pan American Life Insurance Group, IBERIABANK, Morris Bart Law Offices, McGlinchey Stafford, Merrill Lynch and Stirling Properties. First-floor retail tenants include Smoothie King, Starbucks, Tsunami and IBERIABANK. Stirling Properties’ affiliates own the property and are the exclusive management and leasing agents for the Pan American Life Center.
For more information on the Pan American Life Center, visit www.panam-neworleans.com. For leasing information, contact Gaines Seaman at gseaman@stirlingprop.com or (504) 523-4481.
