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.
New Tenant Announced for Shoppes at University Town Plaza in Pensacola, Florida
Bubba’s 33 to join line-up in new BJ’s Wholesale Club-anchored retail redevelopment.
Stirling Properties and Seritage Growth Properties are pleased to announce that Bubba’s 33, a new-to-market restaurant concept, is coming to the Shoppes at University Town Plaza in Pensacola, Florida. It will join the tenant line-up in the new BJ’s Wholesale Club-anchored retail redevelopment located at 7171 Davis Highway.
Developed by Seritage Growth Properties, the 123,000-square-foot Shoppes at University Town Plaza is positioned at the corner of N. Davis Highway and Creighton Road, previously the site of Sears and Sears Auto.
Bubba’s 33 is a family-oriented sports restaurant and bar by the founder of Texas Roadhouse, featuring stone-baked pizzas, fresh-ground burgers, salads and sandwiches. The restaurant will occupy approximately 7,000 square feet of space on the corner lot of the redevelopment. This marks the first Bubba’s 33 in the Gulf South region. The original Bubba’s 33, which opened in 2013 in Fayetteville, NC, was recognized locally as the Best New Restaurant and Best Sports Restaurant.
Anchor-tenant BJ’s Wholesale Club will occupy roughly 100,000 square feet of retail space. Construction commenced this summer, and the store is expected to open in the first quarter of 2020. The membership warehouse club will feature an extensive selection of fresh foods, a full-service deli and household essentials like paper products, cleaning products, diapers, pet supplies and more. This is the first location for BJ’s Wholesale Club in the Florida Panhandle, and it is expected to bring about 140 jobs to the market.
The Shoppes at University Town Plaza will include 16,200 square feet of additional retail shop space positioned along Davis Highway. Stirling Properties’ commercial advisors Kyle Knight and Darryl Bonner are serving as the project’s listing brokers and are working to fill the remaining space with a great mix of local favorites and new-to-market retailers.
“The Shoppes at University Town Plaza is an exciting new Class A retail project located within a major growth node in Pensacola. We are targeting restaurant users, as well as soft goods and service providers for the residual space that will not only be great additions to the market but strongly complement the successful contiguous retail development,” said Knight. “This project is indicative of Pensacola’s dynamic economic development—from Downtown to the Northwestern areas—and illustrates its potential for sustained growth and evolution.”
Stirling Properties is located at 220 W. Garden St., Suite 802, in Pensacola at the SCI Building. For sales and leasing information, contact Darryl Bonner at 770-335-2828/ dbonner@stirlingprop.com or Kyle Knight at 251-769-8487/ kknight@stirlingprop.com.
Stirling Properties Hires Steadman Bethea as Advisor
Stirling Properties is pleased to announce that Steadman Bethea has joined its commercial real estate team as an Advisor. He will work from the company’s Mobile, Alabama, office located at 1 St. Louis Street, Suite 4100.
Before joining Stirling Properties, Steadman worked as a Real Estate Advisor with 30A Realty located on the Gulf Coast of the Florida Panhandle, where he was a member of one of the top-performing teams in the market.
He has also held the roles of analyst and account executive with Walton Funding, a private mortgage company. Here he garnered knowledge and experience with lending on investment properties and commercial loans, a skillset he uses to help guide his clients in making smart real estate decisions.
A native of Montgomery, AL, Steadman graduated from Samford University with a Bachelor of Science degree in Business Administration and Finance. He holds commercial real estate licenses in both Florida and Alabama.
He and his wife reside in Fairhope, AL, where he is a member of the Baldwin Commercial Exchange Club and an active volunteer as a YoungLife Leader.
Steadman Bethea can be reached at (850) 467-1047 or sbethea@stirlingprop.com.
Club 4 Fitness continues to flex its muscle across the Gulf South
Club 4 Fitness continues a rapid expansion effort across the Gulf South region with the addition of four new locations in Alabama and Louisiana. Justin Toomey, Broker Associate with Stirling Properties, and Kenneth Herring, Broker with Kerioth Corporation, worked with the all-inclusive fitness facility to identify and secure the latest retail locations.
Club 4 Fitness will occupy 47,061 square feet of retail space in McGregor Square located at 3930 Airport Blvd in Mobile, Alabama, and plans to open in the second quarter of 2019. Buff Teague and Leigh Dale Younce with JLL represented the landlord at McGregor Square.
The Club is also leasing 26,500 square feet of space in Wildwood Center located at 265 Lakeshore Parkway and 30,187 square feet at Brook Highland Plaza in Birmingham, Alabama, as well as 33,387 square feet at Country Club Plaza in Slidell, Louisiana. These three locations are expected to open in the fourth quarter of 2019 or early 2020.
The company currently has 14 fitness facilities operating or coming soon throughout Louisiana, Mississippi and Alabama, with more on the way. Plans are in place for an aggressive expansion effort across the southeastern region over the next few years.
“Stirling Properties is proud to work with Club 4 Fitness to bring its quality fitness concept to our local markets in the Gulf South,” said Toomey. “As consumers continue to prioritize health, the fitness industry is growing faster than it has ever before—a trend creating significant opportunity for the commercial real estate sector and property owners trying to backfill empty retail space.”
Fitness and health clubs have morphed into a more than $30-billion-a-year industry in the U.S., with growth by at least 3-4% annually for the last ten years. According to research, there are currently more than 36,000 health and fitness facilities across the country boasting more than 60 million members.
Spending in health clubs is growing
(Compiled data from ICSC)
“We anticipate these numbers to grow even more—possibly double over the next 10-15 years—further signifying a very successful future for Club 4 Fitness and other fitness facilities,” said Toomey.
For leasing information, contact Justin Toomey at jbtoomey@stirlingprop.com or (251) 342-7229.
Stirling Properties Awarded Management Contract of Schillinger Place
Renovations & exterior updates planned for the retail center.
Stirling Properties commercial real estate company has been awarded the management contract for Schillinger Place shopping center located at 2502 South Schillinger Road in Mobile, Alabama.
Stirling Properties previously handled the leasing for the center and will now assume daily operations and management responsibilities of the property. Angie McArthur, Broker Associate with Stirling Properties, is the leasing agent assigned to the project.
Schillinger Place is a roughly 69,000-square-foot neighborhood retail center located at the southwest corner of Schillinger Road and Cottage Hill Road. It is 70% leased. Tenants include Club 4 Fitness (coming soon), Pizza Hut, Mediterranean Sandwich Co., Port City MMA, New China One, Mediacom, Down South Native, Zeal Boutique, Vape-It, West Mobile Liquors, Brian Casey State Farm and Nail Express.
Planned landlord updates to the shopping center include renovated exterior façade offering a distinct and eye-catching entry, upgraded lighting, and parking lot sealing and striping. The former Winn-Dixie space is being sub-divided into two retail areas. Club 4 Fitness will occupy 30,000 square feet and plans to open in the spring; the remaining 22,181 square feet is available for lease.
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 Angie McArthur at amcarthur@stirlingprop.com or (251) 375-2481.
For asset & property management information, please contact Robin Hayles at rhayles@stirlingprop.com or (251) 342-7229.
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.
