2017 Office Market Survey: Mobile CBD & West Mobile, AL
Stirling Properties is pleased to present the 2017 year-end Mobile Office Market Survey. This report, compiled by Jack Conger and Jill Meeks, Sales & Leasing Executives in our Mobile office, is intended to track average rental rates, occupancy rates, and average absorption rates 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.
All information provided in this report would not be possible without the cooperation of our staff and colleagues and we would like to thank all of those who contributed.
Here’s an excerpt from the Mobile Office Market Survey:
The last two quarters of 2017 saw an increase in investment activity in the area with many notable transactions, redevelopments and sales.
In leasing news, Armbrecht Jackson, LLP has subleased a portion of the Regions Bank space at RSA Battle House Tower and will be vacating the top two floors of Riverview Plaza. The CBD occupancy rates had a slight increase from 68.3% to 70.2%, average rental rate of $17.28, and an absorption rate of .25%.
There were also many exciting economic announcements for Mobile, such as the partnership of Airbus and Bombardier that could bring a second aircraft assembly line to the market, and the decision of steelmaker SSAB Americas to move the headquarters of its American division from Chicago to Mobile. Rest assured, there are more to follow in the coming months and years!
Please click here to view and download the PDF of the Mobile Office Market Survey.
Stirling Properties Highlights Leading Ladies In Commercial Real Estate!
Last month, several Team Stirling Properties members were acknowledged and awarded for their successes and contributions to the Gulf South commercial real estate industry.
Melissa Warren, CCIM, Sales & Leasing Executive, was selected by the New Orleans Metropolitan Association of REALTORS® (NOMAR) Commercial Investment Division (CID) as a member of its governing Board of Directors. Warren is one of only three women to hold this post. She will assume the position on January 1, 2018, and serve for a two-year term.
Warren has provided commercial real estate advisory services for more than 16 years, with a focus on industrial, office, and retail sales and leasing, as well as tenant and landlord representation. She was awarded the Top Producer Ruby Award by the Gulf Coast Association of Realtors (GCAR) for completing the largest number of commercial transactions on the Mississippi Gulf Coast, and inducted into the Top Producer Round Table for lifetime achievement. She is a graduate of Mississippi State University and holds a Bachelor of Arts degree. She is a member of the National Association of Realtors (NAR), NOMAR CID, CCIM Institute, Louisiana Chapter of CCIM, and ICSC (International Council of Shopping Centers).
Carly Plotkin, Sales & Leasing Executive, was awarded a $1,500 NOMAR CID Education Scholarship. The scholarships are designed to help individual CID members increase their knowledge and education in the fields of commercial and industrial real estate. The scholarship may be applied to courses from many different providers (i.e., CCIM, SIOR, IREM, LR, UNO, etc). She is one of only three recipients awarded this year.
Plotkin joined Stirling Properties in 2016. Her primary focus is on tenant and landlord representation, as well as a strong interest in the retail and hospitality market. She has worked with national, regional, and local clients in both marketing and leasing capacities. She was the recipient of the 2017 “Rising Star Award” at the NOMAR CID Annual Achievement Awards ceremony. She is an active member of ICSC and holds the position of Next Generation State Chair for Louisiana. She is also a member of the Retail Brokers Network (RBN), and serves as RBN’s NextGen Southeast Committee Chair. Plotkin is a graduate of Tulane University with a bachelor’s degree in Consumer Behavior/Marketing and Management.
Rhonda Sharkawy, Senior Retail Leasing & Development Executive, was recognized in New Orleans CREW (Commercial Real Estate Women) Network’s member spotlight for the month of November. New Orleans CREW Network is the premier commercial real estate association in the Greater New Orleans Metropolitan Area for women from all disciplines of commercial real estate.
Sharkawy joined Stirling Properties in 1998, and has commercial experience working with new retail developments, redevelopments, and leasing of existing shopping centers. In addition, she represents over a dozen national retailers throughout Louisiana. She is a graduate of Loyola University in New Orleans with a bachelor’s degree, and a master’s degree in Land & Real Estate Development. She also completed coursework for a master’s degree in Construction Science from Texas A&M University. Sharkawy is active in ICSC and serves on Loyola University’s Board of Trustees. She has been inducted into the National Association of REALTORS® Commercial Hall of Fame for having the highest volume of transactions in the marketplace for at least 5 years. She is one of only three inductees in the Hall of Fame, and the only woman to achieve this distinguished honor.
These women are truly leaders in the commercial real estate industry and are serving as trailblazers for others in the business. A recent study commissioned by CREW Network tracks 10 years of progress for women in a traditionally male-dominated industry. The report found that women in commercial real estate are more satisfied with their career progression than they were a decade ago, a substantial leap for the industry. Successes included more women filling senior vice president, managing director, and partner positions—even women starting their own real estate companies. Women in commercial real estate have achieved equal or close-to-equal standing as men in many aspects. (Read the full report HERE.)
While there is still much work to do, progress is happening. We are proud of our Stirling Properties’ team and all the women who are making a difference in commercial real estate!
#StirlingProud
Stirling Properties Is Stepping Up To The Plate
Team members lead fundraising efforts to support The Miracle League Northshore
We are gearing up for the First Annual Miracle League Radio-thon that will be held on Tuesday, November 14th from 7am-7pm on the Lake 94.7! The event will celebrate a day of fundraising by community businesses and partners who are stepping up to the plate to help The Miracle League Northshore build its first playing field that will provide mentally and physically disabled children and young adults with a safe playing environment. The special field will be able to accommodate wheelchairs and other walking-assistance devices that, along with appropriate support facilities, is designed specifically for use by individuals with disabilities.
Team Stirling members—Bradley Cook, Sales & Leasing Executive, and Griffin Lennox, Investment Sales Analyst—have been active volunteers and ambassadors with The Miracle League, and are leading our company’s charge to support the organization.
“Everyone deserves the opportunity to be cheered on and rooted for, and The Miracle League opens up that chance for so many children and young people with all types of special needs,” said Cook. “Since I started working with special needs individuals, I have learned that every heart has the same emotions and desires, regardless of physical capability. I have connected with and developed true friendships with some of the participants that I have had the pleasure to know and coach over the years. No other place do I personally feel as honored and accepted as when I am with these kids.”
Lennox also serves as a “buddy” for participants with The Miracle League to help encourage learning and fun in sports. “I have had the honor of working with several organizations that focus on creating opportunities for children and adults with physical and mental disabilities, but none quite like The Miracle League. I live and breathe sports, and The Miracle League gives me a place where I can combine my love of sports with my desire to contribute to the mission of amazing organizations like this one. I can’t really describe the environment. The excitement and determination you see on our players’ faces is truly inspirational,” said Lennox.
Last year, Stirling Properties selected The Miracle League as the beneficiary of our annual Stirling Olympics fundraiser. Through the event, we were able to raise $28,000 for the organization to help fund the construction of the new playing field. Our contributions helped to push the organization over the halfway mark to move forward with the project—and we are committed to seeing it through to completion!
Stirling Properties is sponsoring a 30 minute on-air timeslot during The Miracle League Radio-thon where company representatives will be apprising the community of the great things that we are doing in commercial real estate across our region, while also raising funds for the new field. You can help us reach our goal by tuning in and making a donation! Listen on the Lake 94.7 FM (St. Tammany Parish and surrounding areas) or stream the station live. To learn more about The Miracle League or to make an online donation, visit their website. (Donation checks should be made out to The Miracle League Northshore. Please notate “Stirling” in the memo line. Payment can be mailed to: The Miracle League Northshore, 13505 Hwy. 1085, Covington, LA 70433.)
The Miracle League works to provide disabled children and young adults, regardless of their level of disability, the opportunity to play league games and enjoy the emotional and physical benefits of being part of a team. The mission of Miracle League of Greater New Orleans and The Miracle League North Shore is to promote the health and well-being of children with disabilities, provide opportunities for non-disabled children to learn about and interact with children with disabilities, and develop community awareness and support for the child athlete with disabilities through organized sports leagues.
#StirlingProud
Stirling Properties To Manage and Lease Hardy Court Shopping Center in Gulfport, Mississippi
Stirling Properties commercial real estate company has assumed the property management and leasing contract for Hardy Court Shopping Center located at 105 Hardy Court in Gulfport, Mississippi.
Hardy Court Shopping Center is a 225,400-square-foot neighborhood center situated at Pass Road and Courthouse Road, across the street from Gulfport High School. It is a historic retail hub that has provided goods and services to the Gulfport community for more than 50 years. The Center is currently 70% leased. Tenants include a great mix of national and local retailers including Big Lots, Froogel’s Cost + Foods, Badcock &more, Dollar General, Goodwill, Hibbett Sports, Cricket Wireless, and Subway.
Over the last couple of years, the Shopping Center has received a facelift to enhance the value and appearance of the Property. The building exterior was painted, the parking lot was repaved and restriped, and LED lights were installed to improve lighting in the parking area. New signage and additional improvements are in the works.
Stirling Properties manages more than 18 million square feet of commercial property with 120 million square feet of property and land for sale of lease. Other Stirling Properties management projects in the area include Handsboro Square and Orange Grove Shopping Centers in Gulfport, Choctaw Plaza in Waveland, Parkway Plaza in D’Iberville, and the Gulf Coast Non-Profit Center Building in Gulfport, just to name a few.
For leasing information, contact Melissa Warren, CCIM, at mwarren@stirlingprop.com or (504) 620-8148. For asset & property management information, contact Donna Taylor at dtaylor@stirlingprop.com or (985) 898-2022.
